PenChecks Company News

PenChecks Trust, ASPPA Renew Partnership and Expand QKA Scholarship Program

April 18, 2017

SAN DIEGO, CA — PenChecks Trust Company of America (PenChecks Trust) and the American Society of Pension Professionals & Actuaries (ASPPA) are pleased to announce the renewal and expansion of the QKA Scholarship Program for ASPPA’s Qualified 401(k) Administrator (QKA) credential program.

Launched in 2014, the PenChecks Trust ASPPA QKA Scholarship will be this year be awarded to six (up from four in previous years) individuals who make the most compelling case for how the prestigious QKA designation will enhance their career in the retirement plan industry. The scholarship is designed to cover the expenses associated with course registration and materials necessary to attain the QKA credential.

Once having successfully completed the exams and earning the credential, PenChecks Trust will also sponsor the recipient’s first year of ASPPA membership. The value of each scholarship, including ASPPA membership, is $2,300. This year’s recipients will be announced at the 2017 ASPPA Annual Conference, October 22-25 in National Harbor, MD.

“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 QKA credential was designed with that need 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.”

“PenChecks is proud to expand its partnership with and support ASPPA’s educational programs because we believe that highly motivated and well trained professionals are essential to sustaining excellence across the retirement industry,” said Peter Preovolos, CEO of PenChecks Trust. “Over the last three years, we’ve seen a significant increase in the number of applicants, reinforcing our belief that developing qualified industry ambassadors will lead to continued industry innovation and thought leadership – areas in which PenChecks believes deeply.”

Applications for this year’s scholarship will become available on July 1 and are due September 22. For additional information about the PenChecks ASPPA QKA Scholarship and how to apply, click here.

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 over 20 years in business, PenChecks Trust ( 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 IRAs, uncashed/stale-dated check solutions and Abandoned Plan/QTA Services. Customers include financial institutions, third-party administrators, plan advisors, and plan sponsors.

ASPPA, and its three sister organizations — ACOPA, NTSA and NAPA — comprise the American Retirement Association, the premier organization for more than 20,000 retirement plan professionals nationwide. Based in the Washington, D.C. 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,

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