Save Up to 40% in Distribution Processing Costs
Managing distributions for plan sponsor clients requires a significant investment of a TPA’s staff time and resources. The administrative tasks can be especially burdensome for cash balance and defined contribution plans not managed by a record keeper.
To learn how a benefits advisory firm with more than 1,500 benefit plan clients reduced client costs while improving their own administrative efficiency, download our client success story.
Reduce Pass-Through Costs to Your Clients
From benefit elections to payment processing, tax filing and more, handling the administrative side of retirement plan distributions can be a real grind. PenChecks Trust provides a turnkey payments distribution solution that can save you up to 40% on distribution processing costs while freeing up your staff to focus on higher value-added client services.
Our menu of outsourced distribution processing services includes:
- Benefit elections
- Timely, accurate payment processing
- Recurring benefit payments
- 1099-R and tax payment services
- Missing participant searches
- And more!
Our cost-effective services help you streamline administration, reduce costs and improve compliance. Read our case study to learn how one of our clients used our services to reduce the cost of pass-through fees to its clients by 60%!
To learn more about PenChecks full menu of services, click here!