THE EASY WAY TO PROCESS 1099-R's AND REMIT TAXES
From preparation, filing and remitting taxes to participant mailings – we do it all for you!learn more
One-stop shopping… Everything you need in one complete benefits distribution services packagelearn more
EXPERT STAFF/CUSTOMER SERVICE
Friendly, knowledgeable professionals. Expert advice, same-day service – backed by 20 years of retirement benefits processing experiencelearn more
Give your budget a break…
Seamless pension distribution solutions that combine compliance and cost control
When one size doesn’t fit all…
Scalable distribution solutions to fit any company or need – large or small
The leader in benefit distribution processing.
PenChecks Trust™ is the largest and most trusted independent provider of fully compliant retirement plan distribution services. The experts in Missing Participant and Default IRAs, we help plan providers, plan sponsors and third-party administrators reduce risk, lower administrative costs and increase efficiency.
Our comprehensive outsourced solutions include benefit payments processing, setting up Default IRA’s, finding missing participants, handling uncashed checks, and more. Whether you need to make regular pension plan distributions or a large number of one-time payments, we offer cost-effective retirement distribution strategies that meet your budget and your distribution processing needs.
Retirement Distribution Processing
Distributing retirement plan assets can be a time-consuming and costly process. PenChecks can lighten your administrative workload with a complete menu of innovative retirement plan distribution services that save time, reduce risk, and lower operating costs.
Automatic Rollover (Default) IRAs
Automatic rollover (Default) IRAs provide a safe, cost-effective tool for managing plan assets for participants who have gone missing or fail to respond to benefit election requests. PenChecks rollover IRAs help you avoid unnecessary retirement plan administration expenses while reducing your fiduciary exposure.
Uncashed retirement plan checks can require significant time and expense to resolve while posing financial risk to your business and plan fiduciaries. PenChecks uncashed check solutions eliminate these outstanding liabilities, helping you save time, reduce risk, and enjoy peace of mind.
PenChecks helps you safely negotiate the complex and highly regulated process of winding down abandoned plans and distributing their assets. Using a variety of Qualified Termination Administrator services, we make it easy to comply with Department of Labor abandoned plan termination requirements.
Recurring Benefit Payments
PenChecks’ Recurring Benefit Payment Distribution Service delivers timely payments while keeping you compliant with all payment processing regulations. We handle all state and federal tax withholding, remittance and reporting requirements while providing a choice of monthly, quarterly, biannual or annual distributions.
Alternative Payment Processing
PenChecks’ alternative payment processing service provides a cost-effective solution for lump sum or rollover distributions, and a single point of benefit distribution processing regardless of your custodial or recordkeeping platform. We also manage payments related to class action settlements, membership programs, and more.
PenChecks Expert Series Online Webinars
As part of our commitment to ongoing education and management best practices, we offer on-demand webinars presented by outside industry experts on a wide variety of retirement plan distribution and general management topics. Access our full webinar library here
Upcoming PenChecks Events
Come together with your fellow retirement plan professionals, as we join many voices into one vision at the Annual NAPA 401(k) Summit. The PenChecks Trust Team will be attending and we look forward to seeing you there!