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Putnam expresses concerns about income illustration rule

It says it's worried the rule proposes a "highly standardized approach."

By Paula Aven Gladych | Updated on July 30, 2013

Putnam Investments has come out in support of the Department of Labor’s proposed rule regarding lifetime income illustrations on 401(k) account statements – with plenty of reservations, however.

The giant 401(k) plan provider already helps plan participants estimate what their savings will net them on a monthly basis when they retire, and is worried that rules that are too stringent will derail what it already has in place.

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