National Press Club to Host 'NEWSMAKER' Media Briefing on Reform of America's Public and Private Retirement Systems

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Nov 12, 2010, 10:12 ET

Putnam Investments CEO to Outline Retirement Policy Reform

WASHINGTON, Nov. 12, 2010 /PRNewswire-USNewswire/ -- Putnam Investments CEO Robert Reynolds will outline a plan for comprehensive reform of America's public and private retirement systems at a National Press Club Newsmakers press conference at 8:30 a.m. on Wednesday, Nov. 17, in the Lisagor Room, 529 14th St., N.W., 13th floor.

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Overhauling U.S. retirement programs, which account for two-thirds of all savings, is the first step in achieving what Reynolds calls the New Solvency – an economic model based on higher savings, more investment, new business formation and renewed economic growth.

Reynolds will explore how to reach the New Solvency by saving Social Security; extending retirement plans to all working Americans; providing guidance and legal safe-harbor for employers to help employees choose reliable lifetime income products; and implementing major tax and regulatory reform to increase savings, investment and job growth.

Reynolds also will call for an alliance among financial industry leaders, consumer advocates and policymakers to create a robust private retirement system to supplement Social Security and help avoid a rise in elderly poverty as Baby Booms retire.

SOURCE National Press Club