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.
Why DC Plans Serve the Modern Workforce Better
Categories : Defined Contribution
Tags : Defined Contribution
Author : Meera
Today's workers, especially corporate employees, are more likely to change several jobs during the course of their careers. This is a significant shift from a few decades ago, when workers spent practically their entire careers in the same organization. Recent statistics indicate that employees are likely to switch 10 jobs or more in a career spanning four decades.
Smarter platforms and BPaaS solutions provide cost savings, and enhances productivity
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.