Hewitt Associates, Inc. was an insurance brokerage and investment advisory firm that provided pension benefits management and investment advice to corporations and pioneered the concept of employee benefits outsourcing, according to Crunchbase. Hewitt Associates had more than 3,000 corporate clients in 2010 when it merged with the Aon Corporation to become Aon Hewitt, according to PR Newswire. Aon Hewitt continues to provide retirement plan management, investment management, health insurance solutions and compensation management strategies to its corporate clients.
A subsidiary of the newly merged firm, Aon Hewitt Financial Advisors LLC, provides investment advice, employee benefits counseling, financial planning services and personal financial education to employees and retirees of its client corporations at AonHewittAdvisors.com. Aon Hewitt administers 401(k) retirement plans, profit-sharing plans and defined-benefit pension plans for organizations and offers online benefit portals and customer service for employees. It handles functions including benefit calculation, eligibility determination, and tax reporting, according to the company.
Aon Hewitt served more than 20,000 corporate clients as of 2016, including major organizations such as the Florida State Retirement System, Kimberly-Clark Corporation, General Motors, FedEx, and Proctor & Gamble, according to the company. Another subsidiary, Aon Retiree Health Exchange, operates a retiree health insurance plan marketplace for its corporate clients at Retiree.Aon.com.