An ACS news release said the WMSI enhanced IRA and annuity services are available to companies with defined contribution plans.
The company said its new offering with WMSI works with client Web sites to help plan participants evaluate a variety of IRAs, make a selection, and open an IRA account.
“Because employees continue to be increasingly mobile, making their retirement assets easily transportable is more important than ever,’ said Don Bartolai, ACS vice president, Global Benefits Outsourcing, Human Capital Management Solutions, in the announcement. “This allows plan sponsors and administrators to facilitate a simple decisionmaking process and allows participating employees to pursue a more secure retirement.’
The new offering also provides retirees with the option of purchasing lifetime income annuities through Income Solutions, an annuity purchase program of Hueler Investment Services, Inc. Income Solutions.
The Hueler product allows modeling of various immediate annuity scenarios, requesting quotes that reflect institutional pricing, and selection of an annuity provider through a competitive quoting process.