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Categories : BPaaS BPaaS blog Contribution management Defined Contribution Retirement plan administration
Author : Sakthi
Many of the large plan providers, with decades of experience in Defined Contribution (DC) plans, Deﬁned Beneﬁt (DB) plans and Non-Qualiﬁed plans administration are maintaining multiple legacy systems for managing the contribution process. These disparate systems are supported by error-prone manual intervention processes. The decentralized, non-standard contribution management process and rigid architecture of legacy systems are impairing these organizations’ scalability and flexibility to support the payroll volume surges.