Hueler Companies Inc. will be offering more choices for retirees who want to convert savings into steady streams of income.
Hueler, Minneapolis, a stable value consulting firm, set up a Web-based service in 2004 that helps holders of individual retirement accounts roll the IRA assets into immediate fixed annuities issued by any 1 of 8 large insurers.
The firm says it now is adding inflation adjustment options issued by units of companies such as American International Group Inc., New York; MetLife Inc., New York; and Principal Financial Group Inc., Des Moines, Iowa.
The basic annuity payments will be fixed, but the issuing carriers will tie automatic increases in annuity payments to increases in the Consumer Price Index, according to Hueler.
Hueler markets access to its distribution annuity service through benefits consultants, corporate retirement plan sponsors, plan advisors, plan service providers and other financial services organizations, the company says.