What are some pension plans by Aon Hewitt?


Quick Answer

Aon Hewitt is a human resources consulting firm that provides retirement and health insurance solutions to companies around the globe. The company has over 20,000 corporate clients and administers the defined benefit pension plans for organizations such as the Florida Retirement System, the Kodak Pension Plan, Alcatel-Lucent, the University of Notre Dame and Unilever UK, as of 2016, according to the company. Aon Hewitt assists organizations by bringing expertise to retirement plan management and risk reduction.

Continue Reading

Full Answer

Aon Hewitt managed the defined benefit pension plans for 144 employer organizations in the United States in 2015, servicing more than 8 million plan participants. It handles functions such as pension benefit calculation, eligibility determination, customer service, online portals, and financial services, including tax reporting and rollover, and lump sum processing, the company reports.

Aon Hewitt also operates the Aon Retiree Health Exchange, a health insurance marketplace for retirees who receive corporate subsidies toward the cost of the their health insurance benefits. It works with more than 80 insurance companies to provide access to an array of Medicare Supplement insurance plans, the company reports. It also gives retirees of their client companies access to dental and vision insurance programs. Eligible retirees can access the health insurance exchange online at Retiree.Aon.com.

Learn more about Financial Planning

Related Questions