PenChecks Company News

PenChecks Trust®, ASPPA Open Applications for Prestigious QKA Scholarship Program

November 3, 2020

PenChecks Trust® Company of America (PenChecks Trust) and the American Society of Pension Professionals & Actuaries (ASPPA) are pleased to announce the opening of applications for the QKA Scholarship Program for ASPPA’s Qualified 401(k) Administrator (QKA) credential program.

Launched in 2014, the PenChecks Trust ASPPA QKA Scholarship will again be offered this year to acknowledge six individuals who make the most compelling case for how the prestigious QKA designation will enhance their careers in the retirement plan industry. The scholarship, which has been offered to 30 individuals since its introduction, is designed to cover the expenses associated with course registration and materials necessary to attain the QKA credential.

Once the credential is earned, PenChecks Trust will also sponsor the recipient’s first year of ASPPA membership. The total value of each scholarship, including ASPPA membership, is $2,140. This year’s recipients will be announced on November 30th.

“In a complex and constantly changing retirement plan environment, it is critically important that industry professionals maintain a high level of proficiency,” said Brian Graff, CEO of the American Retirement Association and Executive Director of ASPPA. “The newly redesigned QKA credential was developed with that in mind, and we appreciate PenChecks’ continued commitment to this scholarship program as a way of bringing focus to the importance of the QKA credential.”

“Sponsoring the QKA scholarship was the brainchild of PenChecks founder, my father, Peter Preovolos. We’ve always believed that well-trained professionals are essential to sustaining excellence across the retirement industry, and we are proud to continue this legacy” said Spiro Preovolos, CEO of PenChecks Trust. “Each year, the increasing number of applicants reinforces our belief that developing qualified industry ambassadors will lead to continued industry innovation and thought leadership – two core values at PenChecks.”

Applications for this year’s scholarship will be accepted between October 2 and November 10 and must be accompanied by a letter of recommendation. For more information about the PenChecks ASPPA QKA Scholarship and how to apply, visit https://www.asppa-net.org/penchecks-scholarship.

About PenChecks Trust
PenChecks Trust is a state-chartered, non-depository trust company and the largest independent provider of outsourced benefit distribution services and Automatic Rollover IRAs and Missing Participant IRAs in the country. With 25 years in business, PenChecks Trust (www.penchecks.com) is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of plan and distribution issues. Services include automated and branded solutions for benefit payments, election processing, missing participant searches, Automatic Rollover and Missing Participant IRAs, uncashed/stale-dated check solutions and Abandoned Plan/QTA Services. Customers include financial institutions, third-party administrators, plan advisors, and plan sponsors.

About ASPPA
ASPPA and its four sister organizations — ACOPA, NTSA, NAPA, and PSCA — comprise the American Retirement Association, the premier organization for more than 26,000 retirement plan professionals nationwide. Based in the Washington, DC area, ASPPA is a non-profit professional organization established to educate all types of retirement plan professionals, and to preserve and enhance the employer-based retirement plan system as part of the development of a cohesive and coherent national retirement income policy. For more information please visit www.ASPPA.org.

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