The leader in benefit 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 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.

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.

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.