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.

Contributions Processing: The least evolved of all recordkeeping processes?

Categories : Record Keeping Systems 401 Record Keeping Contribution Processing Plan Participants Plan Sponsor
Tags : Contributions processing Plan Participants plan sponsor Record Keeping
Author : Ajay

Most record keepers today use several different software, both home grown applications and external products, for managing various recordkeeping processes like enrollment, contributions, loans, distributions, compliance testing, etc. With time, some of these business processes have become more evolved and streamlined compared to some others. There are dozens of products that are released every year, each meant to handle specific business processes in the recordkeeping cycle.

Read More

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.

Read More

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%.

Read More