While I’ve been in the retirement plan business for over twenty years now, one thing I had never found was an easy to read book that an employer or someone new to the business could pick up and finish in one or two sittings and get their arms around where our retirement plan system has been, where it is today and some ideas on where it is headed in the future. My guest today Bob Reynolds, the President and CEO of both Putnam Investment and Great-West Financial must have shared my frustration and taken it upon himself to fill the void! During our conversation, we explore mostly his thoughts on how our retirement system is doing today and some recommendations for employers he highlights in his new book, From Here to Security: How Workplace Retirement Plans Can Keep America’s Promise. As you will hear, while our system is not perfect it is a strong and healthy but needs the ongoing leadership of employers to improve retirement plan coverage within the workforce and to help employees who already have access to retirement plans advance farther down the path towards a successfully replacing their income in retirement. I won't steal Bob's thunder, but don’t you worry, we leave you with plenty of great ideas and strategies you can bring to your next retirement plan committee meeting.
Robert L. Reynolds is President and Chief Executive Officer of both Putnam Investments and Great-West Financial, which is one of the nation’s top providers of retirement savings products and services through its Empower Retirement division.
Long respected as an industry statesman, Mr. Reynolds has been a driving force of innovation and progress in institutional and retail financial services. Prior to joining Putnam in 2008, Mr. Reynolds was Vice Chairman and Chief Operating Officer of Fidelity Investments.
Mr. Reynolds’ accomplishments have earned multiple industry honors over time. He was named Fund Leader of the Year at the Mutual Fund Industry Awards in 2010 for the strategic improvements he initiated at Putnam. The following year, Putnam, under the leadership of Mr. Reynolds, was honored as Retirement Leader of the Year for initiatives and innovative solutions in the workplace savings arena. Mr. Reynolds has also received a Lifetime Achievement Award from PLANSPONSOR magazine for popularizing employer sponsored 401(k) plans.
Mr. Reynolds currently serves on several not-for-profit boards, including those of West Virginia University Foundation, Concord Museum, Dana-Farber Cancer Institute, and the U.S. Ski and Snowboard Association Foundation. He is Chairman of the Boston Advisory Board of the American Ireland Fund, a member of the Massachusetts General Hospital President’s Council, and a member of the Chief Executives Club of Boston and the Council on Competitiveness.
Mr. Reynolds earned a B.S. in Business Administration, Finance, from West Virginia University, where he also received an Honorary Doctorate in Business Administration and a Distinguished Alumni Award. In addition, Mr. Reynolds is a recipient of the Boston College President’s Medal of Excellence and the Manhattan College De La Salle Medal. He lives in Concord, Massachusetts.
401(k) Fridays Podcast Overview
Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your workplace retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over eighty five prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!