Congruent sheds light on the topics and questions that matter to you, so that you’re equipped with new ideas to innovate, in the competitive landscape of record-keeping and plan administration. Our in-house experts offer insights you can harness.


Investment Vehicles in Pension Funds

Categories : Auto-enrolment Blog ETF Investment Vehicles Pension Funds
Tags : Auto-enrolment ETF Investment vehicles Pension funds
Author : Sagar

A majority of people do not save enough for retirement, and those who save, do so without understanding investment vehicles or without a goal and investment horizon. Many pension plans around the world are trying to address this by auto-enrolment, and default funds. Industry statistics in the US show that participation rates in pension plans has increased by around 15% as a result of auto-enrolment. While this is good, the default contribution rates for those auto-enrolled, however, are very low compared to those of the persons who elect to participate in pension plans.

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Lack of Standards in the Retirement Industry

Categories : Record Keepers Retirement Plans Blog Pension Funds Asset Managers Data Exchange Standards In The Retirement Industry
Tags : Asset Managers Data Exchange Insurance industry Record keepers Retirement plans Standards in the Retirement Industry
Author : Sagar

Having made a move from Insurance to Retirement like so many of my peers, I was first awestruck by the sheer numbers in this industry in terms of total assets: with the total assets of pension funds about $10 trillion more than insurance companies. Soon after, I was dumbstruck by the total lack of standards amongst record keepers and asset managers alike in the pension industry.

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A Brave New World of Investing?

Categories : Blog
Tags : Insurance Investment
Author : Sagar

Michelle is due to retire next year, and most of her savings are in equity. Having reaped the benefits of equity investments for the past 30 years she will continue to park her savings in equity instruments well into her retirement. Sounds mindless? There is a commonly cited rule in investing for retirement where an individual’s equity exposure should be about 100 less their age.

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Does Operational Efficiency impact plan participation?

Categories : Blog
Tags : Plan Participants plan sponsor 401K record keeping DC record keeping Plan administrators Record Keeping Software Recordkeeping system Retirement technology
Author : Shelly

Employees these days are cognizant about the importance of retirement savings and appreciate the assistance from their employers. They want a financially secure life at the end of their careers. State Street Global Advisors recently conducted a survey on people considered as millennials and Generation X. The survey findings suggest that 87% people agree that it is important to save early and 83% agree that saving is their priority.

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Automatic Plan Features, Planning Tools, Mobile Apps – What’s Next for the US Retirement Industry?

Categories : Blog
Tags : plan sponsor analytics DC record keeping Record Keeping Software Retirement technology Internet of Things IoT Mobile Apps Plan administrator Plan participant
Author : admin

Auto features like auto enrollment, auto deferral increase (ADI) have put millennials on path to retirement readiness# is a recent claim by the PLANSPONSOR® magazine. When we compare participation rates, saving rates, equity allocation percentages from a voluntary enrollment plan to those of an automatic enrollment plan, they are looking promising. In the PLANSPONSOR® study, 3.6% was the average deferral rate in a voluntary plan, and in the automatic enrollment plan it was 4.2%.

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An Approach to Seamless Data Migration during Retirement Plan Recordkeeping Platform Modernization

Categories : 401 Record Keeping Blog DC Record keeping Record Keeping Software Retirement Services Retirement Technology 401k Record Keeping Software Retirement Plans Record Keeping
Tags : Recordkeeping Retirement technology Data Migration Retirement plan
Author : admin

The change in the customer environment in the US retirement markets, coupled with the increased competition and need for growth in plan participant base, has caused US retirement plan providers to reassess their platform/technologies and processes. It’s the right time for the plan provider organizations to establish a level of parity from a technology perspective to stay relevant to customers, and have competitive edge over the other players.

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6 Simple Productivity Boosters for 401K Plan Administrators

Categories : Record Keeping Systems 401 Record Keeping Blog DC Record keeping Record Keeping Software Retirement Services Retirement Technology Thought Leadership Retirement Plans Record Keeping
Tags : Retirement plan administration 401K record keeping DC record keeping Plan administrators Record Keeping Software Recordkeeping system Retirement technology Plan Processing Retirement Services Year- End Processing
Author : admin

401K Plan Providers often faces difficult challenges during the calendar year due to thin profit margins and seasonal spikes in demand for resources. With multiple stages of managing a plan like eligibility, testing, form 5500 preparation, transactional processing and general day to day operations, errors in plan administration can happen frequently, have serious drag on productivity, and detract from the overall customer experience.

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Making Plan Administrators’ Lives Easier and Enhancing Customer Engagement through New Generation Technologies

Categories : 401 Record Keeping Blog DC Record keeping Record Keeping Software Retirement Services Retirement Technology Retirement Plans Record Keeping
Tags : Plan administrators Recordkeeping system Retirement technology Payroll Big Data Customer Engagement
Author : admin

Kodak was the Google of its day! In 1976 it had a monopoly in the film-based camera business, accounting for 90% of film and 85% of camera sales in America. However, times were changing and digital camera technology was around the corner. Unfortunately for Kodak, the company did not appreciate this threat to its film-based business and it failed to adapt accordingly.

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Legacy Systems are the “White Elephants” for Retirement Service Industries

Categories : Legacy record keeping systems 401 Record Keeping Blog Uncategorized DC Record keeping Record Keeping Software Retirement Services Retirement Technology 401k Record Keeping Software Thought Leadership Retirement Plans Record Keeping
Tags : 401K record keeping DC record keeping Record Keeping Software Recordkeeping system Retirement Services
Author : admin

The Retirement Services Industry traditionally has been a slow adopter of information technology solutions. While the transition from VISIO Calc to next generation systems was gradual, the retirement industry has been stuck there for long time with those yester year proprietary and legacy systems which indeed are like white elephants from a continued maintenance expense perspective.

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3 Most Important Technology Considerations for Modern Retirement Plan Recordkeeping Systems

Categories : Blog Uncategorized DC Record keeping Record Keeping Software Retirement Technology 401k Record Keeping Software Thought Leadership Retirement Plans Record Keeping
Tags : Retirement plan administration 401K record keeping Record Keeping Software Recordkeeping system Retirement technology Retirement Services
Author : admin

It is a matter of fact that the typical plan provider organizations must provide enterprise services to an ecosystem of many stake holders: plan administrators, sponsors, advisors, participants, TPAs, and other service providers. Because of the varying needs of the stakeholders, most plan provider organizations find themselves forced to manage a complex heterogeneous environment comprised of new and legacy IT systems.

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