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Products March 25, 2009
Putnam Launches New DC Platform
Putnam Investments unveiled a new defined contribution platform for advisers and their plan sponsor clients.
Reported by Rebecca Moore
According to a press release, the offering will serve clients in the small, mid-size, and large market segments, using the recordkeeping services of FASCore, LLC. Putnam and FASCore are subsidiaries of Great-West Lifeco Inc. and members of the Power Financial Corporation group of companies.
The announcement said Putnam’s new 401(k) program will provide plan sponsors with:
- Putnam’s proprietary mutual fund offerings, including Putnam Absolute Return Funds;
- an open architecture investment platform with performance screens to help streamline selection for advisers and plan sponsors;
- core plan design with automated features aimed at improving retirement readiness and reducing administrative burdens;
- pricing and fee transparency;
- an array of qualified default investment alternative (QDIA) options.
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