February 2, 2010 -- As reported by the Boston Globe,  Putnam Investments CEO Robert Reynolds calls for a comprehensive effort in 2010 to strengthen America's public and private retirement savings system.

The Globe reports that Reynolds said, "If no action is taken soon, today's retirement savings status quo threatens to inflict severe financial stress on future generations of retirees."

He added, "Americans know we need to transition our country away from debt and leverage, moving toward a greater reliance on savings, investment, and new business formation to reboot sustainable economic growth." Creating a robust, resilient and truly secure public and private retirement system should be at the heart of that effort."

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