The East Providence (R.I.) Police & Fire Retirement System placed Putnam on watch because of the market-timing accusations against the firm, said James McDonald, finance director. Putnam runs $13 million in active domestic large-cap growth equities and $9 million in international equities for the $67 million plan, Mr. McDonald said. Trustees discussed terminating Putnam but instead decided to monitor the firm quarterly, he said. Laura McNamara, Putnam spokeswoman, did not return a call by press time seeking comment. Evaluation Associates assisted.