When participants take loans against their retirement plans, plan administrators typically face an enormous quantity of manual paperwork, which can take up time, energy and money.
From the first engagement with the participant’s loan application to loan disbursement and ongoing loan maintenance, the CORE Loans Management Solution can help you overcome these challenges of manual processing with automation.
The solution easily integrates with your existing:
Improve customer service, reduce errors and accelerate time-to-revenue through increased process efficiencies.
Benefit from intuitive connected web access for all critical stakeholders – plan participants, advisors, sponsors and administrators.
Reduce effort of re-keying data into multiple systems and accelerate the loan submission and review cycle through data-level integration.
Loan requests, loan approvals, disbursements and loan managemenst is all entirely online.
A Tier 1 retirement plan advisor was dealing with under-utilization of their workforce, coupled with high costs. Our Retirement Plan Administration was the perfect solution.