This copy is for your personal, non-commercial use only. To order presentation-ready copies for distribution to your colleagues, clients or customers visit http://www.djreprints.com. Everyone knows about the good old days, when hardworking Americans were able to enjoy a comfortable, worry-free retirement thanks to their healthy pension. But like many tales from decades ago, the reality wasn’t as sweet as recalled, and the situation facing many of today’s retirees isn’t necessarily much worse—though it may feel like it.