Big news for the U.S. retirement industry! Congruent, a tech specialist focused on retirement, has just announced its acquisition of IPX Retirement Edge from IPX Retirement. This strategic move aims to simplify the often-complex world of guaranteed retirement income options for plan participants.
So, what exactly is IPX Retirement Edge? It’s a specialized platform designed to make it easier for Defined Contribution (DC) retirement plans, like 401(k)s, to offer investment options that provide a steady income stream in retirement. Think of it as a tool that handles everything from educating participants about these options to managing their investments and providing statements.
Balaraman Jayaraman, CEO of Congruent, highlighted the importance of this acquisition, noting that recent legislation like the SECURE Act 2.0 encourages more guaranteed income options in retirement plans. He stated that IPX Retirement Edge is a “transformative solution” that removes traditional hurdles by automating the entire process, making it simpler for everyone involved – from annuity providers and plan sponsors to the participants themselves.
Bill Mueller, CEO of IPX Retirement, echoed this sentiment, emphasizing that combining IPX Retirement Edge with Congruent’s existing CORE platform will lead to a broader range of solutions and a smoother experience for advisors, sponsors, record keepers, and ultimately, the people saving for their future.
Since 2004, Congruent Solutions has been a key player in retirement technology. Their CORE SaaS platform and outsourced services assist major plan providers and administrators overcome challenges and prepare for the evolving retirement landscape.
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