Dallas-based Southwest Airlines Pilots’ Association (SWAPA), which represents 6,300 Southwest Airlines pilots, will offer the Hueler Income Solutions annuity platform to all of its current and retired members, Hueler Companies announced.
The Income Solutions platform is a web-based annuity purchase system where people transitioning from 401(k) plans to retirement or in retirement can receive competitive bids from several income annuity providers without the intervention of a commissioned sales person.
The platform services, launched by Minneapolis-based Hueler Investment Services in 2004, are now available to many retirement plans, including all Vanguard 401(k) plans, as well as through non-exclusive partnerships with other financial service firms, employers, and non-profit member organizations, Hueler said in a release.
SWAPA members will be able to use Income Solutions to buy annuities with IRA rollover assets or with non-qualified savings. The platform will include fixed deferred, single premium immediate, and longevity annuity contracts.
“Our collective goal is to empower individual members as they seek to build a personal pension or create a paycheck for life from their retirement savings,” said Kelli Hueler, CEO Hueler Companies.
According to a release, “SWAPA members will now be able to convert their hard earned savings into lifetime income on the most competitive terms possible while retaining control over timing, features, dollars invested, and providers selected.”
“We are excited to offer our pilots an institutionally priced annuity distribution option, so that they can establish a lifetime income stream to help meet their core costs in retirement,” said John Nordin, SWAPA 401(k) Committee chairman.
Hueler Companies, Inc., based in Minneapolis, was founded in 1987 as a consulting/data research firm. It offers resources for the analysis, selection, and implementation of stable value and annuity products.
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