Why PenChecks Is the #1 Choice for Outsourced Retirement Plan Distribution Services
In today’s crowded financial services industry, there are many organizations vying for dollars without really considering what’s most important or prudent for their clients. Grown organically since its inception, PenChecks’ corporate DNA is that of a unique and dedicated problem solver, with the interests of its clients at the core of everything we do.
As the leader in retirement plan distribution services, PenChecks provides unparalleled end-to-end benefits distribution processes that:
- Save you time and money
- Reduce your administrative workload
- Protect your business by keeping you compliant with Department of Labor and IRS regulations
Our complete menu of pension plan distribution services includes everything from uncashed check resolutions, Missing Participant and Default IRAs, benefit election processing, recurring payment options, 1099-R and tax payment services, and more.
PenChecks has more than 20 years of experience creating innovative retirement distribution strategies for plan providers, plan sponsors and third-party administrators (TPAs). With deep roots in the TPA/ retirement plan distributions industry, we fully understand the challenges you face, and have the experience and expertise to help you successfully resolve them.
Whether you need help with a single process or a complete benefits distribution solution, PenChecks offers fast, affordable services to meet all your pension plan distribution needs.
A pioneer in retirement plan distribution services, PenChecks was the first to develop and introduce the concept of missing participant automatic rollover IRAs and uncashed check resolution programs. We were also the first to develop a national lost retirement fund registry and offer it free to the public. We’re committed to the ongoing development of new technologies and services that keep you compliant today and ready for the challenges of tomorrow.
Increasingly, the financial services industry relies upon sophisticated technologies to provide fast, safe and secure pension plan distribution services. We use state-of-the art benefits processing technologies that enable you to easily set up accounts, process benefit distributions, track funds, run custom reports and more. PenChecks processes distributions in all 50 states and U.S. Territories so we can perform tax withholding, remittance and reporting and issue 1099-Rs and other tax documents throughout the U.S.
Fast, Friendly Customer Service
As dedicated stewards of your customers’ funds, we work tirelessly to make retirement plan distributions and other related activities as easy as possible. Each of our client service reps are thoroughly trained and have earned their Distribution Processing Certification from the National Institute of Pension Administrators. To accommodate our diverse client needs, we offer bilingual support in English and Spanish. And our friendly same-day service makes you feel like we’re right around the corner – no matter where you’re located.
PenChecks Trust is regulated and thoroughly examined annually by the Division of Banking. Our systems use high-level encryption and best practice industry standards for data protection and security. At PenChecks, our dedicated IT professionals and internal staff work around the clock to keep your sensitive data safe.
You can count on us to deliver fully compliant retirement plan distribution solutions that protect your business while upholding all fiduciary responsibilities to your customers.
- Our expert advisors keep up to date on all retirement plan distribution rules and regulations, so you can have peace of mind knowing your benefits distributions are fully compliant.
- Our proprietary process delivers seamless handling of all funds. Distributions are made on time for the right amount. Tax payments are processed daily, and we offer an array of distribution options including physical checks, electronic deposit wires or ACHs, and even prepaid debit cards.
- All of PenChecks’ benefits distribution and related services are audited on a regular basis, so you can have confidence that we are in full compliance with industry standards and best practices.
- We offer a simple, predetermined fee structure for all our services, so there’s no worry about hidden charges or extra costs. You know exactly what you’re getting and what it will cost – with no surprises.
Call PenChecks today at (800) 541-3938 to learn more about our cost-effective retirement plan distribution services.