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Article: Putnam CEO Reynolds Calls for 2010 to Be the Year of Retirement Reform, with a "New Generation" of Workplace Savings Plans.
- Article from:
- Investment Weekly News
- Article date:
- November 21, 2009
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While 2009 has been the year of healthcare reform in Washington, Putnam Investments President and Chief Executive Officer Robert L. Reynolds today called for 2010 to be the year when major retirement reform is finally enacted to make possible a new generation of workplace savings plans that generate more dependable sources of lifetime income.
Reynolds said that, with reforms he is proposing, annuities and other non-annuity assured income products could play a greater role in generating retirement income, with the market for such products perhaps growing to more than $5.5 trillion by 2020, compared to today's fixed and variable annuity market, which is estimated to ...