SOURCE: Putnam Investments

Putnam Investments

November 19, 2013 10:39 ET

Putnam Investments Defined Contribution Receives 47 "Best in Class" Service Awards in Industry Survey

BOSTON, MA--(Marketwired - Nov 19, 2013) - Putnam Investments announced it has received 47 "Best in Class" honors in the 2013 PLANSPONSOR Defined Contribution Survey -- receiving an award in every category of service evaluated. The annual survey is considered to be one of the retirement industry's leading indicators of plan sponsor and participant satisfaction with the services offered by their 401(k) provider. Putnam's nearly 50 awards place it in the top ranks of retirement service providers nationwide, according to the survey.

"We are pleased to be recognized with this sweeping slate of best in class honors, which we view as validation of Putnam's long-time, deep commitment to delivering the highest quality retirement offerings to plan sponsors and their employees," said Edmund F. Murphy III, head of defined contribution for Putnam. "Our firm takes great pride in its tradition of providing retirement clients with high-touch, innovative services, which we seek to bring to each and every relationship that we have."

The awards reflect the reviews of 82 plan sponsors who are clients of Putnam and who were surveyed confidentially. More than 96% of Putnam's clients said they would recommend Putnam to other plan sponsors, with 77% saying they are "extremely likely" to do so.

Putnam's approach to the 401(k) marketplace has been to build an interactive user experience for plan participants that seeks to shift focus beyond current account balances and allocations, and toward estimated monthly income needs in retirement. In September, Putnam announced that it would provide 401(k) participants access to personal financial wellness services, including planning tools for budgeting and savings, starting in early 2014. The services will add to the company's Lifetime Income experience, built around Putnam's Lifetime Income(SM) Analysis Tool (LIAT) and its Health Cost Estimator, which helps plan participants estimate their potential future healthcare costs in retirement.

About Putnam Investments
Founded in 1937, Putnam Investments is a leading global money management firm with over 75 years of investment experience. In February, the firm was named #1 Mutual Fund Family by Lipper/Barron's based on the firm's 2012 performance across asset classes. At the end of September 2013, Putnam had $145 billion in assets under management. Putnam has offices in Boston, London, Frankfurt, Beijing, Amsterdam, Tokyo, Singapore and Sydney. For more information, visit putnam.com.

About PLANSPONSOR
PLANSPONSOR magazine, an Asset International, Inc. publication, is the USA's leading authority on retirement issues and benefits programs. PLANSPONSOR.com provides comprehensive news and commerce services dedicated solely to helping employers and financial advisers navigate the complex world of retirement plans and benefit programs on behalf of their employees or clients. For more information, see www.plansponsor.com

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