Benefit Elections Site (PBE)

Fast, Intuitive Online Processing with PenChecks Benefit Election Website for Plan Participants

The PenChecks Participant Benefit Election Site gives your plan participants a fast, safe, and secure option for processing their benefit elections. More importantly, it lightens your administrative workload by streamlining and simplifying an often confusing process of paper forms, mail delays, unreadable handwriting, and input errors.

VIDEO: Do We Have Your Money?


Reclaim Your Retirement Funds from PenChecks Trust. Learn more.

Have you been directed to PenChecks Trust by your retirement plan sponsor? If so, you may be wondering how PenChecks came to be the custodian of your account. We’ve created a short video that explains what happened to your assets after leaving your former employer, and how you can initiate the process to reclaim your retirement funds.

Using a step-by-step, online system of intuitive prompts, plan participants can complete all their required benefit election forms in just minutes and digitally sign and authorize them. As a result, your participants are more likely to respond to benefit election requests in a prompt and timely manner. And you can monitor each participant’s progress via the PenChecks Pay Portal (P3), making it easy to manage the entire process.

  • Seamless Benefit Distribution Processing

    Developed through years of expertise in pension benefit distribution processing, our benefit election website makes submitting benefit elections quick and simple. Available 24/7, the web site enables participants to:

    • Log in using a safe, secure PIN
    • View their benefits and outstanding loan amounts
    • Update their contact information to ensure the most current information
    • Acknowledge the receipt and understanding of the 402(f) special tax notice and save or print for their records
    • Indicate their preferred rollover or lump sum benefit election
    • Select tax withholdings
    • Choose their payment method (check, wire, ACH, etc.)
    • Digitally sign and authorize their payment

Multiple Distribution Options with Online Participant Benefit Election Process

When making their benefit elections, participants can select one of the following:

  • Roll their benefit over into an existing IRA
  • Roll their benefit over into a new employer plan
  • Receive a cash lump sum distribution
  • Receive a split distribution (combination of cash lump sum and rollover)
  • Review and elect all mandatory/voluntary federal and state tax withholdings as it relates to their benefit election

After selecting their benefits, participants can choose from several payment and delivery options, including standard check, ACH, and overnight delivery. Plan providers and administrators receive an electronic record of every benefit election, and paper forms can be provided upon request.

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