Individual retirement investors working with ABG’s 15 regional consulting, recordkeeping, administration and advisory firms will gain the opportunity to consider guaranteed lifetime income as part of their broader retirement income plan, the firms explain. This will be accomplished through the combination of Hueler’s Income Solutions platform with ABG’s offerings in the mid-plan market.
Hueler’s Income Solutions platform is designed to facilitate efficient, transparent, low-cost delivery of lifetime income to investors approaching and living in retirement. The platform provides a key service for assisting participants with the process of converting portions of their nest egg into a sustainable income stream for life. Individuals can control when their monthly income payments begin, and choose from a variety of pre-screened insurance companies.
According to ABG’s President Don Mackanos, many ABG firms have been hearing from their plan sponsors and participants about the fear of participants running out of money when they retire. He says the Hueler solutions are a good answer because they help provide a lifetime income option on a cost-effective basis.
Kelli Hueler, CEO of Hueler Companies, adds, “Collectively, we believe that access to low-cost lifetime income is essential for improving income sufficiency for many Americans and agree that both plan sponsors and advisers play a key role in making our efforts to serve participants successful.”