Putnam Investments Empowers 401(k) Participants to Further Drive Lifetime Income Through Asset Allocation Actions
June 08 2010 - 3:35PM
Business Wire
Putnam Investments today announced it has significantly enhanced
the Putnam Lifetime IncomeSM Analysis Tool, its innovative
retirement planning platform, with the addition of a robust new
asset allocation application, which enables 401(k) plan
participants to model changes to the mix of assets in their
retirement savings account and implement the changes in
real-time.
Launched in January, the Lifetime Income Analysis Tool redefines
the way investors view their current retirement savings activities,
by placing greater focus on helping 401(k) plan participants
project how much income their current retirement savings may
generate in retirement to determine if they are on track to achieve
their desired lifestyle. The new asset allocation function takes
participants a step further by providing them with an analysis of
likely investment outcomes for their account based on their asset
class mix, and gives them the ability to instantly reallocate their
portfolio to better align with their retirement income goals.
“The financial crisis made it painfully clear that investors
need to change the way they view the retirement savings process by
shifting their focus away from simply amassing assets to
specifically planning how much actual income will be needed – and
can be expected – in retirement,” said Jeffrey R. Carney, Putnam
Investments Head of Global Products and Retirement. “The most
critical factors in determining a successful retirement outcome are
an individual’s level of savings and striking an appropriate asset
allocation. Putnam’s enhancement to its Lifetime Income Analysis
Tool directly addresses the crucial asset allocation element.”
The new asset allocation function of the Lifetime Income
Analysis Tool provides plan participants with the option of
building their own portfolio to achieve their target asset
allocation using the existing funds in their plan. In some cases,
participants may have the option to choose from a variety of
professionally managed, pre-diversified solutions is they are part
of the plan option. No matter what asset allocation method a
participant chooses, the reallocation of their portfolio can be
made directly from the tool in real-time.
“While asset allocation is one of the most important decisions
that plan participants make when it comes to determining whether
their retirement savings plan will meet their income needs in
retirement, it is often woefully overlooked due to its perceived
complexities,” said Edmund F. Murphy, III, Managing Director, Head
of Defined Contribution, Putnam Investments. “By providing
investors with an intuitive, simplified and easy-to-use approach to
assessing and impacting their retirement readiness, we believe they
will employ greater consideration to the driving factors behind
securing a dignified retirement.”
Commitment to the Retirement Market
The Lifetime Income Analysis Tool is part of a deepened
commitment by Putnam Investments to the retirement market. This
year, Putnam has launched a series of retirement initiatives,
including groundbreaking fee transparency disclosures in its effort
to provide the clearest, most complete overview of fees and
expenses in the workplace savings industry. (For more details on
Putnam’s approach to transparency, please visit
www.theretirementsavingschallenge.com.)
Putnam also has expanded the services it offers to 401(k)
retirement plans and developed products to meet the needs of those
planning for or already in retirement. The firm has created a
platform that provides flexible and scalable services and solutions
for advisors, consultants, and their plan sponsor clients in every
segment of the retirement market.
Putnam RetirementReady® Funds, the firm's suite of 10
target-date/lifecycle retirement funds, added target Absolute
Return Funds* to its mix of underlying investments. RetirementReady
Funds became the only suite of lifecycle funds to integrate
absolute return strategies, which seek positive returns over a
period of three years with less volatility than more traditional
mutual funds. Employed in retirement portfolios, Putnam Absolute
Return Funds are intended to pursue positive returns in up and down
markets, to protect against the harmful effects of adverse
investment returns and to reduce volatility, particularly for
investors in or near retirement.
About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money
management firm with over 70 years of investment experience. The
firm was recently ranked #1 out of 61 fund families, based on its
funds’ performance during 2009, in a Lipper/Barron’s Fund Families
Survey. Putnam is a leader in product innovation, and is the first
mutual fund family to offer a full suite of Target Absolute Return
Funds and a complete suite of Global Sector Funds. At the end of
May 2010, Putnam had $112 billion in assets under management,
including mutual fund assets of $62 billion and institutional
assets of $50 billion. Putnam has offices in Boston, London,
Frankfurt, Amsterdam, Tokyo, Singapore, and Sydney. For more
information, visit putnam.com.
Putnam mutual funds are distributed by Putnam Retail
Management.
* Putnam's target Absolute Return Funds are not intended to
outperform stocks and bonds during strong market rallies.
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