PenChecks Company News

SDCERA Names PenChecks Board Member, David Wescoe CEO

October 28, 2015

Longtime member of PenChecks’ Board of Directors to head San Diego County’s $10.6 billion employee pension fund

SAN DIEGO – October 16, 2015 – The San Diego County Employees Retirement Association (SDCERA) has hired the former head of the city’s pension fund and current member of PenChecks Trust Board of Directors, David Wescoe, as its next chief executive officer.

Wescoe was appointed to the PenChecks Board of Directors in August of 2013. He is part of an eight-member team that includes other professionals with diverse backgrounds in the financial services industry. Wescoe is currently President of Efficient Market Advisors (EMA), a San Diego independent investment advisory firm. Prior to his role at EMA, Wescoe was the chief executive for the Motion Picture Industry Pension and Health Plans, and also was the CEO of the San Diego City Employees’ Retirement System (SDCERS). Wescoe has served as a corporate finance lawyer, counsel to two commissioners at the U.S. Securities and Exchange Commission, and CEO of Northwestern Mutual Investment Services.

“We are very fortunate to have a proven industry professional like David on our board of directors,” PenChecks CEO Peter Preovolos said. “He has made vital contributions to our retirement distribution services during his time with us, and we have complete confidence in his ability to successfully lead SDCERA into the future.”

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 plan and distribution issues. Services include automated and branded solutions for benefit payments, election processing, Default & 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.

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