Prudential's Integration of Hueler's Income Solutions for 401(k) Plans

Hueler Investment Services Inc. recently announced that Prudential Insurance Co. of America has integrated Hueler’s Income Solutions platform into its defined contribution 401(k) savings plan. This innovative platform, known for providing a marketplace for guaranteed lifetime income options, enables plan participants to convert part of their retirement savings into a personal pension through an annuity contract, with features available for selection this month.

According to Hueler's CEO and founder, Kelli Hueler, approximately 35 prominent plan sponsors utilize this platform, including industry giants like Ford Motor Co., which adopted the offering earlier this year. Income Solutions is accessible through major recordkeepers such as ADP, Milliman, Paychex, and Vanguard, extending its reach to over 250,000 plans nationwide, highlighting its expansive market impact.

"Our technology emphasizes flexibility and collaboration over a proprietary approach," Kelli Hueler stated, underscoring the platform’s contribution to fostering market competition and enhancing participant benefits with value-added services. Founded in 1987, Hueler Investment Services has been offering lifetime income annuity products to the institutional sector since 2004, operating under Hueler Companies.

In 2020, the analytics segment of the company was sold to Morningstar Inc., but the Income Solutions operations continue independently. Acknowledging her significant influence in retirement income annuities, Kelli Hueler was honored with the PLANADVISER Vision Award in 2023 and is a founding member of the Defined Contribution Institutional Investment Association.