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.


Blockchain in the Retirement & Pension Industry

Categories : Retirement Services
Tags : Retirement & Pension Industry Blockchain Blockchain in the Retirement
Author : Sagar S

The psychobabble around the term Blockchain has people believing that it will revolutionize the way systems, companies, and even the internet will work. It is touted as the next big thing with almost Quixotic expectations. Popularized by Bitcoins – many technology and finance companies are now evaluating where they can use blockchain, almost as if to suggest that we are finding problems to fit the solution.

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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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Consolidate or Replace : IT Application labyrinths in the Retirement Plan Administration Organizations

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

Plan provider organizations which complain about the cost of IT maintenance often fail to realize that the root cause for the humongous IT expenditures are the labyrinths of IT applications, they have coddled over years. Plan providers have built those software applications and even bought a few software packages from different suppliers one at a time, to support their ongoing business demands.

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Retirement Plan Information: Paper versus Electronic communication Dilemma in the retirement plan record keeping process

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

While legislative and regulatory policies are allowing the plan providers to have the electronic delivery of communication in the retirement plan record keeping as their default channels, the story is different from plan participants’ standpoint. Plan participants want the paper communication as the default channel in the retirement plan record keeping, with an option to choose electronic communication, if required.

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