Congruent Expands Retirement Offerings with IPX Retirement Edge

Congruent, a specialist technology partner to the U.S. retirement industry, today announced the acquisition of IPX Retirement Edge, a niche platform for retirement income solutions, from IPX Retirement. The IPX Retirement Edge platform allows Congruent to cater to the growing need for guaranteed and secured income options among participants.

IPX Retirement Edge enables Defined Contribution (DC) retirement plans to offer in-plan guaranteed income investment options. It supports the entire participant journey and experience, from enrolment and education to investment selection, policy issuance, cashiering, and statement reporting.

"The SECURE Act 2.0 has fundamentally changed the retirement landscape by encouraging plan sponsors to offer guaranteed income options," said Balaraman Jayaraman, CEO of Congruent. "IPX Retirement Edge is a transformative solution for annuity providers, sponsors, participants and recordkeepers looking to streamline the integration of guaranteed income options within 401(k) plans. IPX Retirement Edge removes the traditional barriers that have made in-plan annuities complex to administer by automating the entire process from participant education through policy management. This comprehensive platform enables providers to efficiently deliver the retirement security that today's plan participants and sponsors seek while significantly reducing operational complexity and risk for recordkeepers and sponsors alike."