Putnam Investments by midyear is planning to roll out three retirement income funds specifically designed for defined contribution plans, IRAs and other retirement accounts. The funds will be offered in conjunction with a planning tool to help both advisers and investors create a range of personalized income strategies.

The funds are designed for varying risk tolerance: Putnam Retirement Income Fund Lifestyle 1 (conservative), Putnam Retirement Income Fund Lifestyle 2 (moderate) and Putnam Retirement Income Fund Lifestyle 3 (the most aggressive).

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