Ex Putnam Exec Joins New York Life Taft-Hartley Team

March 17, 2009 (PLANSPONSOR.com) - New York Life Retirement Plan Services announced that ex Putnam executive Thomas M. Mitchell has been appointed as a vice president and executive relationship manager working in the Taft-Hartley union marketplace.

Mitchell, spent 16 years at Putnam, most recently as a senior vice president and Taft-Hartley relationship manager overseeing client relationships for union defined contribution plans with more than $4 billion in total assets, according to the announcement. Mitchell reports to Jim Byrne, director and executive relationship manager for New York Life’s Taft-Hartley channel.

New York Life Retirement Plan Services has grown its Taft-Hartley defined contribution retirement plan business to over $4 billion in assets under administration, the announcement said. In addition, the firm started offering bundled pension plans to unions in 2008, allowing it to provide total retirement outsourcing (TRO) services to the union market.