PenChecks Company News

PenChecks Celebrates 20 Years of Delivering Results

October 21, 2014

San Diego – PenChecks Trust™, the leader in retirement benefits distribution processing, is moving into its third decade of operations with one eye on the past and one eye on the future. Founded in 1994 by CEO Peter E. Preovolos, PenChecks is celebrating two decades of success with the launch of a rebranded web site, sponsorship of two industry scholarships, and a renewed commitment to the ongoing innovation that has made it the industry leader.

“Since cutting our first retirement distribution check in 1994, PenChecks has led the way in providing innovative retirement benefits distribution solutions,” says Preovolos. “After 20 years, we felt the time was right to reflect on who we are and where we’re going. This has resulted in a complete rebranding, including our corporate website, a reenergized vision for the future, and a renewed focus on product/service innovation as we look forward to the next decade.”

The 20th anniversary rebranding of PenChecks includes:

  • New website. The totally revamped offers visitors a fresh new look with more intuitive navigation and a greater choice of menu options. The site’s seamless integration with today’s smart phones, tablets and other mobile devices also gives clients an easier and more effective way to engage and do business with PenChecks.
  • Renewed commitment to ongoing education. PenChecks has committed to sponsoring two annual scholarships with ASPPA and NIPA, the industry’s largest trade associations, designed to support the educational needs of pension professionals and the industry as a whole.
  • PenChecks Trust – ASPPA QKA Scholarship. Awarded to four individuals each year, this scholarship will assist recipients in obtaining certification for the Qualified 401(k) Administrator credential program.
  • PenChecks Trust – NIPA APA Designation Scholarship. Awarded to six individuals each year, this scholarship will assist recipients in completing the Accredited Pension Administrator (APA) designation program.
  • Expert webinar series. To further support its educational efforts, PenChecks recently launched its PenChecks Trust™ 2014 Expert Series. Presented by top national experts, these free 30-minute webinars cover a wide range of retirement industry issues and general business topics. This will be an ongoing annual commitment as PenChecks extends its efforts to develop thought leadership content.
  • Brand launch at ASPPA. PenChecks will unveil its new brand at the annual ASPPA conference, which begins on October 26. To celebrate its relationship with ASPPA and its 20th anniversary with conference attendees, PenChecks is giving away $20 every 20 minutes throughout the conference. To be eligible to win, attendees can visit the PenChecks booth and fill out an entry form or provide their business card. One name will be drawn every 20 minutes, with the winner receiving a crisp new 20-dollar bill and a thank you card from PenChecks. Attendees do not need to be present to win.

Looking Ahead – High-Touch Technology and Speed of Innovation
PenChecks’ evolution from a simple retirement check processor to a high-touch technology firm offering a diverse array of payment processing services has been largely driven by an entrepreneurial mindset that enables the company to respond to industry trends, needs and regulatory changes in nimble fashion. Preovolos sees this mindset as an important differentiator in the continued growth of his company and the industry at large.

“Over the last two decades, our industry has evolved in ways that no one expected,” adds Preovolos, “and it will continue to do so at a faster rate. We see our role in this evolution as one of continuing leadership, providing secure, compliant and cost-effective payment processing services to our clients. With our cloud-based P3 distribution processing web portal, we stand poised to push the boundaries of our industry with new products and services – like offering a debit card to plan participants as a payment option – that serve a broader scope of payment distribution needs.”

PenChecks Trust Company of America (PenChecks Trust) is a state-chartered, non-depository trust company and the largest independent provider of outsourced benefit distribution services and Default/Missing Participant IRAs in the country. With 20 years in business, PenChecks Trust ( is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of trust resolution issues. Services include automated and branded solutions for benefit payment processing, uncashed/stale dated checks, Abandoned Plan/QTA services and Taxable Savings Accounts. Customers include financial institutions, third party administrators, plan advisors, and plan sponsors.

For more information on the PenChecks NIPA APA Designation Scholarship, please visit

For more information on the PenChecks ASPPA QKA Scholarship, please visit

PenChecks - Save Time, Reduce Risk, and Lower Operating Costs: Call 800.541.3938 or .