7 Ways Retirement Plan Data Plays a Crucial Role

Data is the backbone of the US retirement plan industry. Without accurate and timely data, it would be difficult for retirement plan providers and recordkeepers to make sound decisions.

Technology helps derive insights from various data, including detailed information on plan sponsors, participants, assets, and investment options.

Digital transformation in Retirement Plan Industry: Getting it right

To sustain in the highly competitive market, retirement plan service providers must spend more on digital transformation. They must adopt new-age technology to address customer service issues and deliver personalized services with self-service options. Besides offering convenience, using digital platforms helps cut down costs for recordkeepers.

How To Choose Outsourced Plan Administration Partner?

Finding a reliable service provider can be challenging, especially in an industry as nuanced and evolving as the retirement sector. But by carefully choosing your outsourcing vendors, you can add considerable value to your business efficiency. If you’d like to know more, do get in touch with us.

Whitepaper: How to deliver SUPERior Experience to Plan Participants?

Do you know over 70% of Gen X-ers and 42% of Gen Z-ers are planning for retirement already? The twist here is none of them…

4 paths to success in the evolving retirement ecosystem

The US retirement system is under rising pressure as it faces increasing competition, decreasing revenue growth, escalating regulatory pressure, and an aging population. The structural challenges that contribute to these challenges are unlikely to ease in the near future.

Choosing Outsourcing Partner for Retirement Plan Administration

The expense and effort of handling retirement plan administration in-house are constantly increasing while compliance with the Employee Retirement Income Security Act (ERISA) guidelines and new rules and regulations such as SECURE Act and CARES Act adding to the pressure. Hiring an in-house team is a full-time expense.

Benefits of Outsourcing Form 5500 preparation

t’s clearly in every retirement plan provider’s best interest to ensure information is filed correctly, accurately, and promptly. With years of experience working with retirement plan providers in the Retirement Plan industry, Congruent Solutions understands the intricacies of Form 5500 preparation better than most. If you, as a plan provider, record keeper or a TPA, are overwhelmed with form 5500 filing, please call us.

Data drives digital transformation in the retirement industry

Data is the lifeblood of the retirement plan industry. A lot of it is collected from the participants throughout their lifetime. It is crucial to manage and use the data carefully. Per ERISA, participant data must be stored securely and used according to guidelines.

A Quick Guide on 401k Compliance Testing

Plan sponsors look for retirement plan administrators and compliance service providers to outsource 401(k) Compliance Testing. It is practical and cost-efficient to outsource the Compliance Testing service compared to hiring full-time experts.