Products April 1, 2015

Hueler Makes QLACs Available to DC Plans

“QLACs can help ensure sufficient income later in life as Americans anticipate longer, healthier retirement years,” says Kelli Hueler, CEO Hueler Companies.
Reported by

Hueler Companies has expanded its Income Solutions platform services to include qualified longevity annuity contracts (QLACs).

With the addition of deferred income annuities and longevity insurance in late 2013, Hueler was well positioned to incorporate QLACs, the company said. Hueler claims the Income Solutions automated platform is the first to offer real-time QLAC quotes in a transparent, comparable format from multiple insurance companies.

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With the regulations passed in July 2014, individuals looking to purchase deferred income annuities and longevity insurance with pre-tax, qualified defined contribution (DC) retirement plan assets are now able to defer their income payments past the age of 70 ½. The regulation allowed for assets used to purchase a QLAC to be excluded from required minimum distribution (RMD) calculations Retirement savings that qualify for a QLAC have a maximum income start date of age 85.

“We believe the new QLAC regulations give American workers and retirees a very important planning tool and much needed flexibility as they make difficult decisions about how to use their hard-earned retirement savings to create sustainable income. QLACs can help ensure sufficient income later in life as Americans anticipate longer, healthier retirement years,” says Kelli Hueler, CEO of Hueler Companies.

Hueler tells PLANADVISER, “Income Solutions is the only institutionally priced lifetime income platform that plan sponsors can make available to participants, and the QLAC offering is a very important enhancement. Hueler has been providing services to the plan sponsor community for more than 25 years and Income Solutions specifically has been available for more than 10 years.  Some of the largest plans in the country use the Income Solutions platform either directly through Hueler or through their recordkeeper, such as Vanguard and Aon Hewitt.”

More information about Hueler Companies is at http://www.hueler.com/.

Deals & People April 1, 2015

Buck Consultants Adds Wealth Practice Principal

Based in New York City, Jim Stewart has joined Buck Consultants, becoming part of a national team that provides consulting services and solutions to address client needs.
Reported by

In his new role, Stewart serves as a principal in the firm’s retirement plan and wealth management segments.

Buck says Stewart will focus on clients’ retirement risk management, retirement plan design and retirement readiness issues. His expertise in defined benefit (DB) and defined contribution (DC) plans helps clients design and manage their retirement programs to balance their company objectives and participant needs, the firm notes.

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Over his 30-year career, Stewart has served large and complex corporate and not-for-profit organizations across various industries. His areas of expertise include the strategic management, plan design and financing of broad-based and executive retirement programs. He is also a specialist in church pension plans, a special type of retirement plan not subject to the more common federal pension laws.

Stewart was previously a senior consulting actuary with Towers Watson in New York. He is a fellow of the Society of Actuaries and an enrolled actuary.    

More information on the firm is at www.xerox.com/hrconsulting.

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