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.


Plan Conversion – Investment Strategy, Advantages and Challenges

Categories : Retirement plan administration Retirement Plans
Tags : Retirement plan administration
Author : Arun K

The plan conversion process involves inclusion of a strategic approach as per investment advice provided by the Registered Investment Consultant or Registered Investment Advisor (RIA) to the fiduciary of the plan.

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Plan Conversion – Benefits and Best Practices

Categories : Retirement plan administration Retirement Plans
Tags : Retirement plan administration Plan Conversion
Author : Arun K

As the saying goes, change is the only constant in life. We have to adapt, over time, in order to survive. In the world of retirement plans, preparing for change is, by itself, a Herculean task. Organizations consider plan conversion to stay ahead of the market.

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State-run retirement plans: How the US is trying to increase retirement coverage

Categories : Retirement Plans
Tags : Retirement plan administration Retirement plans Retirement technology
Author : Meera

A large number of US workers face an uncertain future – many don’t have enough savings and aren’t enrolled in retirement plans. In many cases, employers don’t offer retirement plans. Small companies are not able to afford it or don’t have the resources to administer such plans. Only a little more than 50% of small and medium businesses in the US now offer retirement plans.

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Smarter platforms and BPaaS solutions provide cost savings, and enhances productivity

Categories : BPaaS BPaaS blog Contribution management Defined Contribution Retirement plan administration
Tags : 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.

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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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3 Most Important Technology Considerations for Modern Retirement Plan Recordkeeping Systems

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

It is a matter of fact that the typical plan provider organizations must provide enterprise services to an ecosystem of many stake holders: plan administrators, sponsors, advisors, participants, TPAs, and other service providers. Because of the varying needs of the stakeholders, most plan provider organizations find themselves forced to manage a complex heterogeneous environment comprised of new and legacy IT systems.

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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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Pension Auto-enrollment Employee Assessment – Getting it right!

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

Auto-enrolment pension reform made it mandatory for every UK employer to enroll workers automatically into a qualifying pension scheme – starting in October 2012. Auto-enrolment brings a new set of duties and obligations, as well as major operational, financial, compliance and reputational risks to all employers – including the challenge of managing huge inflow of new members on staging dates.

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4 Reasons why pension providers don’t want to upgrade Aging and Obsolete Enterprise Systems

Categories : 401 Record Keeping Blog DC Record keeping Record Keeping Software Retirement Technology 401k Record Keeping Software Retirement Plans Record Keeping
Tags : Retirement plan administration 401K record keeping DC record keeping Record Keeping Software Recordkeeping system Enterprise Enterprise System retirement service
Author : admin

In the retirement services industry, aging IT Systems that have been upgraded with a piecemeal approach over the years are a major challenge to the pension providers. Not only has this approach led to technology obsolescence but has also adversely affected the overall productivity due to increased maintenance and administration overheads. What are the key drivers for large pension providers to continue status quo when they are clearly aware that their technology platforms are obsolete and need replacement? Of course, there are different reasons and chances are that each pension provider has a unique set of reasons.

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