Putnam Investments President and CEO Robert Reynolds has been a consistently vocal advocate of retirement reform.

Reynolds believes that the retirement planning landscape requires revamping so that annuities and other sources of guaranteed retirement income play a more prominent role.

During a recent industry conference, Reynolds discussed the notion of a "product allocation" in the context of retirement finances:

A crucial part of the reform effort is helping to protect workers` savings as they reach retirement in order to allow for a dependable source of lifetime income. In addition to stock and bond mutual funds, asset allocation funds and absolute return strategies, Reynolds said that assured income options should become part of a "lifetime financial product allocation" glide path that adjusts throughout life to protect assets and ensure a dependable "retirement paycheck."

Source: Reuters

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