Mike Dullaghan is the Director of Retirement Sales Execution for Franklin Templeton. He is responsible for providing thought leadership, promoting new content, and delivering the tools and resources that help enable the Retirement team to effectively market  Franklin Templeton products. Mr. Dullaghan is a regular contributor to Kiplinger’s “Building Wealth” newsletter. Previously, at Putnam Investments, he was the Director of Content and Sales Enablement for Putnam’s DCIO Team. Mr. Dullaghan received his Retirement Income Certificate, or RI(k), from the National Association of Plan Advisors (NAPA).

In this episode, Eric and Mike Dullaghan discuss:

• Automatic enrollment and automatic escalation
• The evolution of retirement income solutions 
• Regularly updating the plan design 
• The blurring of lines between retirement and wealth advisory 

Key Takeaways:

• For ERISA plans established since January 1, 2023, automatic enrollment and auto-escalation are now required, reflecting a shift toward helping more workers save effectively for retirement.
• There's a growing focus on creating in-plan guaranteed income options, with innovations aimed at providing personalized income solutions using technology like AI to help retirees manage their savings.
• Just like smartphone operating systems, retirement plans need periodic review to ensure they're optimized for changing workforce demographics and participant needs.
• With state mandates and demographic shifts, advisors are increasingly working across retirement plans and wealth management, creating new opportunities for comprehensive financial guidance.

“If we can boil it down to what's the why of retirement income, what's the how of retirement income, and what's the what, then I think we're going to be in a way, better place than we are today.” - Mike Dullaghan

Connect with Mike Dullaghan:

Website: https://www.franklintempleton.com/ 

LinkedIn: https://www.linkedin.com/in/mikedullaghan1/ 

Connect with Eric Dyson: 

Website: https://90northllc.com/

Phone: 940-248-4800

Email: [email protected] 

LinkedIn: https://www.linkedin.com/in/401kguy/ 

The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to change.

It is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.

The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.