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.
Everything you need to know about 401(k) plans
Categories : Defined Contribution Retirement Plans Retirement Savings Plans
Author : Padma G
When it comes to retirement plans, an increasing number of US employers seem to prefer 401(k) plans over other plans. This is largely due to how beneficial these plans are to them, as well as to their employees. 401(k) plans not only provide tax deductions for companies, but also provide an incentive for their employees to stay with them.
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.