According to a press release, the offering will serve clients in the small, mid-size, and large market segments, using the recordkeeping services of FASCore, LLC. Putnam and FASCore are subsidiaries of Great-West Lifeco Inc. and members of the Power Financial Corporation group of companies.
The announcement said Putnam’s new 401(k) program will provide plan sponsors with:
- Putnam’s proprietary mutual fund offerings, including Putnam Absolute Return Funds;
- an open architecture investment platform with performance screens to help streamline selection for advisers and plan sponsors;
- core plan design with automated features aimed at improving retirement readiness and reducing administrative burdens;
- pricing and fee transparency; and
- an array of qualified default investment alternatives (QDIA) options.
More information is at www.putnam.com .