Participant loan and distribution requests shouldn’t be a bottleneck. Yet, for many recordkeepers, plan providers, and TPAs, these routine transactions often become sources of delays, manual errors, and participant frustration — especially during periods of high demand.
With Congruent’s CORE Loans & Distributions module, you can eliminate delays, automate complex calculations, and deliver a faster, smoother experience for participants while reducing the administrative burden on your teams.
The Challenge: Manual Processes Slow Everything Down
- Cumbersome Workflows: Paper-based or semi-manual processes slow approvals, introduce risk and increase turnaround times.
- Complex Calculations: Loan amortization, interest rate application, repayment schedules, and distribution taxability require precision.
- Resource Drain: Teams waste time on repetitive tasks and error corrections instead of focusing on value-added services.
- Participant Frustration: Delays in processing loans or distributions lead to poor participant experience and reputational risk.
The Solution: CORE Loans & Distributions
CORE digitizes and automates the entire loans and distributions process — from request to fulfilment.
How Does CORE Help?
CORE automates the entire loans and distributions process — from request to fulfilment — and Congruent’s experienced administrators ensure your loan and distribution operations run smoothly, accurately, and on time.
- Need a bullet on handling PDF requests, leveraging our AI to read, parse and initiate the request
- Need a bullet on fraud detection/prevention
- Automated Processing: CORE streamlines the workflow for loan and distribution requests, eliminating manual touchpoints and delays.
- Real-Time Calculations: Automatically calculates complex interest rates, loan amortization schedules, statutory limits, and tax implications with precision.
- Compliance Built-In: Ensures adherence to IRS, DOL, and plan-specific rules throughout the process.
- Participant Self-Service: Enables participants to submit requests and track status through integrated, user-friendly portals.
- Experienced Administrators: Congruent’s dedicated team of trained retirement plan professionals works alongside CORE to handle exceptions, reviews, and approvals quickly and accurately — further reducing turnaround times.
- End-to-End Support: From initial request through final disbursement, Congruent’s technology and people combine to ensure fast, error-free outcomes with minimal burden on your internal teams.
Why Congruent’s CORE?
With over 20 years solely focused in the retirement industry, Congruent understands the operational pressures and compliance complexities around participant transactions. CORE is purpose-built to help you scale operations and eliminate friction.
- API-first, cloud-native platform
- Integrated with your ecosystem — recordkeeping, payroll, custodians
- Software and Operations designed for efficiency and accuracy at scale
Outcome: Less Burden for Administrators, Better Service for Participants
- Faster loan and distribution processing
- Reduced manual workload and risk of errors
- Improved participant experience with quicker access to funds
- Compliance confidence, every step of the way
- Reduced operational expenditures
