Putnam Chief Executive Officer Robert Reynolds is once again sounding the call for a new approach to 401(k) investing, inclusive of annuities and other retirement income products. This time, he is asking Washington to create a national insurance charter that will ensure consistent regulation for assured income products.

In concert with this, Reynolds says there needs to be a new regulatory body overseeing these products. Provisionally, he has named this body the Lifetime Income Security Agency.

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