Deals & People January 12, 2015

The Retirement Advantage Hires Installation Manager

Emily Hooyman will oversee the process of onboarding new clients of The Retirement Advantage.
Reported by

The Retirement Advantage, Inc. (TRA), a retirement plan solutions provider, hired Emily Hooyman as plan installation manager.

Hooyman will be responsible for overseeing the quality and quantity of work produced by the installation department. She will report to Michelle Zentner, TRA’s director of operations.

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Leading the plan installation team, Hooyman’s primary task is integrating TRA’s plan installation services with its plan provider partners to provide a seamless onboarding experience for new business clients. She will also monitor internal policies and procedures to ensure plan installation service levels meet or exceed commitments made to clients, within regulatory guidelines. In addition, she will be coaching and developing staff members through performance management, goal setting, training and effective employee relations.

Hooyman joins TRA with 18 years of experience in leadership, compliance, consultation, project management, sales, training and retirement administration in the financial services and qualified plans market. She graduated from University of Wisconsin Green Bay with a Bachelor of Science in business administration; with an emphasis on finance, and a minor in financial accounting.

She has also earned her qualified pension administrator (QPA), American Society of Pension Professionals and Actuaries, enrolled retirement plan agent (ERPA) and accredited pension administrator (APA) designations.

More about The Retirement Advantage is at http://tra401k.com/.

Products January 12, 2015

Pentegra Makes Available Hueler Lifetime Income Product

A new product expands access to institutionally priced lifetime income for thousands of retirement plan participants.
Reported by

Pentegra Retirement Services is making available to clients a new lifetime retirement income product in conjunction with Hueler Income Solutions.

The addition of the Hueler Income Solutions product provides Pentegra with the ability to expand access to institutionally priced lifetime income for thousands of retirement plan participants.

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“Hueler shares our vision and commitment to improving retirement outcomes for participants. Through this out-of-plan annuity solution, individual investors will have the opportunity to objectively consider guaranteed lifetime income as part of their broader retirement income plan,” says Richard W. Rausser, senior vice president, Pentegra.

Hueler’s Income Solutions product is designed to facilitate efficient, transparent, low-cost delivery of lifetime income to “Transitioning Investors”—both active employees and retirees. The platform provides a service for assisting participants with the process of converting portions of their retirement assets into a reliable income stream, or paycheck for life.

The company claims it is the only institutionally priced, fully automated, multi-issuer platform available in the market today. Individuals benefit from higher monthly income payouts and can choose from a variety of pre-screened insurance companies. All quotes are standardized to improve transparency and the platform offers easy-to-use educational tools.

In anticipation of the new qualified longevity annuity contract (QLAC) regulations, the Income Solutions platform was expanded in 2013 to include deferred income annuities and longevity insurance. A QLAC is a deferred income annuity that pays the annuitant later in life. The advantage of a longevity annuity is only a small initial deposit of premium dollars are needed to guarantee bigger income payments later in retirement years. Hueler is among the first to offer QLACs in this fashion to sponsors and participants. The expanded product offering also addresses a growing demand from individuals for the ability to control when their monthly income payments begin.

“Hueler’s Income Solutions provides a lifetime income option on a credible, cost effective basis, using Hueler’s proprietary search and selection criteria. We are excited to offer this solution to our plan sponsors and participants,” Rausser adds.

More about Pentegra Retirement Services is at www.pentegra.com.

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