Retirement Plan industry is under constant pressure to to meeting Form 5500 deadline. Outsourcing form 5500 filing is a better option as it saves the additional expenditure on maintaining an internal team around the year.
Congruent’s intelligent solution CORE empowers recordkeepers and plan administrators. It supports end-to-end recordkeeping operations designed to meet the specific needs of retirement plan providers in America. A cloud-native automation system, CORE works as a retirement plan administration software that provides you complete control over operational costs.
Retirement plan providers must be at the top of their game, constantly updating plans and ensuring that their clients get the most for their money invested. However, legacy plan administration applications often remain in use for far longer than ideal, which doesn’t support growth plans.
Managing this wave requires sophisticated systems that can handle the data of millions of retirees. Retirement plan administration software helps ensure that participants receive better service and regular updates related to their retirement accounts.
Automation in the retirement plan industry must eliminate time-consuming manual processes. Opting for retirement plan administration software allows you to manage the data complexity and avoid penalties for non-compliance.
401k Compliance Testing is necessary but complex. An experienced outsourcing partner with knowledge of technology platform can help meet the deadline and without errors.
Retirement Plan Administration is integral to a plan provider. Outsourcing to a specialist partner can help plan providers to focus on sponsors and participants better.
The retirement crisis in America is very real. More than half of older workers have saved less than $50,000 for retirement, and one-quarter do not have any retirement savings at all.