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Rating:Putnam's Reynolds: Retirement Mandates Now, Please Not Rated 0.0 Email Routing List Email & Route  Print Print
Friday, August 2, 2013

Putnam's Reynolds: Retirement Mandates Now, Please

News summary by MFWire's editors

BlackRock's Larry Fink recently called for mandated retirement savings and now Robert Reynolds, president and chief executive of Putnam Investments [profile], is raising the issue again.

As quoted by InvestmentNews reporter Mark Scheoff Jr., Reynolds said the U.S. should go "full-auto, auto-enrollment, auto-re-enrollment annually, auto-escalation to higher deferrals plus automatic default to qualified target date or balanced funds…" in a speech at the National Press Club.

It's a statement Reynolds has made throughout the years, Scheoff writes. The question is, will his statements hit home in Washington? Scheoff reports that a mandate faces strong opposition from Republicans, who aren't eager to ask anything of business owners after the passage of Obamacare.

Reynolds recently launched a think tank, the Putnam Institute to study retirement issues, and make an impact on the conversation on 401(k)s, presumably in the media and in DC.

To read more, click here

Edited by: Casey Quinlan

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