Millions of Americans are facing a huge problem: how to create sufficient income in retirement. Putnam CEO Robert L. Reynolds presented a solution at the National Investment Company Service Association’s October conference.
Review his presentation to see how Putnam is making workplace plans less volatile and helping people achieve more successful retirements.
Solving America's Lifetime Income Challenge
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If action is not taken to boost retirement savings — and substantially — a generation from now, millions of people could be short on funds to pay for food, medicine, and housing. Fortunately, the framework for a solution already exists in the form of America’s workplace savings plans.

The Defined Contribution system has been at the center of attention from Congress — and according to Putnam CEO Robert Reynolds, it can be made a much more robust, reliable part of solving America’s retirement challenge.

75 million American workers still lack any access to workplace retirement savings plans.

The decision to give up some control of assets is hard for many people to make and needs incenting.

Employers have little incentive to match workers’ contributions to 401(k) plans, and many are, in fact, canceling or reducing company matches.

Alternative investment strategies are offered on only a limited basis in many 401(k) plans, depriving workers of valuable solution strategies.

90% of plan participants are interested in embedded options to provide protected and insured lifetime income.

“Auto-pilot” 401(k) plans work: 90% of auto-enrolled employees have stayed in their plans. But, since “auto-pilot” provisions are optional, many employers have not adopted them.

Employers are concerned about their liability if they offer employees access to advice or guidance.