WASHINGTON—At a separate summit on 401(k) reform during last weeks General Membership Meeting of the Investment Company Institute, Putnam Investments CEO Robert L. Reynolds called for sweeping retirement reform, beginning with mandatory automatic enrollment in qualified default options, savings escalation, the inclusion of retirement income options and full advice on asset allocation and retirement planning.

Further, Reynolds believes the government should provide tax credits to employers who voluntarily match worker savings contributions since these employers are helping to meet a national savings challenge. Additionally, Reynolds is asking the government to provide additional tax incentives to employees who invest in protected lifetime income products, reasoning that the decision to give up some control of assets should be rewarded.

Subscribe Now

Access to premium content including in-depth coverage of mutual funds, hedge funds, 401(K)s, 529 plans, and more.

3-Week Free Trial

Insight and analysis into the management, marketing, operations and technology of the asset management industry.