Alliance Benefit Group, a national consortium of 15 regional consulting, recordkeeping, administration, and advisory firms, has announced the new partnership with Hueler Income Solutions.
The partnership’s goal is to expand access to institutionally priced lifetime income for thousands of participants and retirees. “The combination of Hueler’s Income Solutions lifetime income platform with the scope of ABG’s reach in the mid-plan market forms a powerful resource for plan sponsors and advisors,” the companies said in a joint release.
Hueler’s Income Solutions online immediate annuity and deferred income annuity purchasing platform helps plan participants convert portions of their retirement assets into a retirement income stream.
In anticipation of the new QLAC regulations, the Income Solutions platform was expanded in 2013 to include deferred income annuities and longevity insurance. The expanded product offering also addresses a growing demand from individuals for the ability to control when their monthly income payments begin, the release said.
Hueler Companies, Inc., is located in Minneapolis. It was founded in 1987 as a stable value consulting and data research firm. In 2004, Hueler Investment Services, Inc. launched Income Solutions, a web-based immediate income annuity purchase system designed as an IRA rollover option that allows individuals to purchase institutionally priced annuities with their rollover IRA assets.
Alliance Benefit Group, LLC is a national network of independently owned retirement plan consulting; investment advisory; health and welfare consulting; and benefits administration firms. Collectively, Alliance Benefit Group provides administration services to over 16,000 plans representing more than $52 billion in assets and over one million participants.
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