Distributions

Retirement Distribution Services That Save Time, Reduce Risk and Lower Operating Costs

Managing distributions from a retirement plan can be a time-consuming and costly process that places an unwanted burden on your staff. PenChecks can lighten your administrative load with a complete menu of innovative retirement distribution services. Whether you’re an institutional plan provider, third-party administrator or plan sponsor, we offer cost-effective retirement plan distribution solutions that help to achieve your asset distribution goals while freeing up staff to spend more time focusing on your customers.

From benefit elections to payment processing, IRA solutions, uncashed checks help and more, PenChecks offers a comprehensive end-to-end retirement plan distribution process that keeps you compliant while meeting all your retirement distribution needs.


Retirement Plan Distributions You Can Trust

Backed by 20 years of industry experience, PenChecks offers fast, affordable retirement distribution solutions to make your retirement benefit processing simple and profitable. Using state-of-the-art technology, our knowledgeable advisors work with you to efficiently process payments, locate missing participants, establish rollover IRAs, provide specialized help and manage other essential retirement plan distribution processes.

All PenChecks benefits distribution systems and services are audited on a regular basis. We utilize stringent security procedures to protect your information. Our simple, flat fee structures make it easy to understand all the associated costs up front. And all fees can be charged directly to the participant’s account so there is zero cost to the plan sponsor or TPA.

Save time, reduce risk, and lower operating costs when you use PenChecks for distribution processing:
  • Save Time

    PenChecks reduces your administrative workload by:

    • Automating online processing to increase operational efficiency
    • Minimizing interaction with plan participants
    • Eliminating paperwork, including creation and distribution of benefit election packets
    • Fulfilling all federal and state tax withholding, payments and reporting (1099R, 945) requirements
  • Reduce Risk

    To help lower your risk, we

    • Eliminate exposure to federal and state tax withholding, payment and reporting penalties
    • Keep current with all IRS tax notice and participant notifications
    • Reduce errors by standardizing your distribution process
    • Employ certified staff with extensive retirement distribution services experience
    • Provide ongoing monitoring and resolution of all uncashed distribution checks
  • Lower Costs

    To help save money and reduce your costs, we:

    • Enable you to perform less work without reducing your fee structure
    • Eliminate all postage, printing and handling costs
    • Use secure online software with no download, licensing or registration fees
    • Provide leads to brokers and advisors to help retain assets
PenChecks - Save Time, Reduce Risk, and Lower Operating Costs: Call 800.541.3938 or .