Kevin Morgan: ERISA Plan Basics - Blocking and Tackling

Be More Than A Fiduciary

Kevin Morgan is the Managing Director for Retirement Investment Consultant at J.P. Morgan Asset Management, covering TX, CO, OK, NE, AR, & LA

Kevin lives just outside Fort Worth, TX has been with JP Morgan for 12 years, & is a 25-year veteran of the qualified plan industry. He has extensive experience in investment strategies, 401(k) plan sales, plan implementation/conversions, relationship management with plan sponsors, and direct participant communication/education. Prior to joining J.P. Morgan, Kevin held positions with Fidelity & Deutsche Bank.

Kevin holds NASD series 6, 63, 3 & 30 licenses. He attended the University of Cincinnati.

In this episode, Eric and Kevin Morgan discuss:

• Avoiding inefficient assumptions
• Treating participants as individuals, not as a group of “averages.”
• What’s at stake in plan design decisions for the quality of life of employees; now and in retirement.

Key Takeaways:

• Plan sponsors think consultants are clicking through all the technology and information for participants, while consultants think participants have access to everything. In reality, it does not happen often enough - it's just inefficient assumptions on both sides.
• Always communicate, and don’t make assumptions about "the average" participant or plan sponsor. Treat every plan sponsor individually, survey their culture, employee tenure, and what success looks like for their 401(k) plan.
• Look at your plan through a window, and not a mirror. Understand the specifics, don’t treat it as a mirror of yourself. Select only the target date funds that are suited to your participants’ risk tolerances and auto-escalation.
• A small difference in savings can drastically impact someone's dignity and quality of life in retirement. That’s why we must ensure people have enough wealth to live retirement on their own terms after working so hard.

“Your job is to look at your company and your plan through a window and not through a mirror.” - Kevin Morgan

Connect with Kevin Morgan:

LinkedIn: https://www.linkedin.com/in/kevin-morgan-0a95bba/

Connect with Eric Dyson:

Website: https://90northllc.com/

Phone: [phone]

Email: [e-mail]

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

The information contained herein is general in nature and is provided solely for educational and informational purposes.

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, financial advice, or legal advice.

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.