Plan Sponsors

Specialized Distribution Services for Retirement Plan Sponsors

For retirement plan sponsors, few things are more important than making timely retirement distributions to plan participants. At PenChecks we can safely and efficiently process any kind of distribution on your behalf, including:
  • Lump sum
  • Rollover
  • Default participant
  • Missing participant
  • Recurring benefit payment
  • Hardship withdrawal

As the retirement plan processing experts, we can even process return of excess distributions, as well as many foreign retirement plan distributions. With our state-of-the-art technologies and innovative pension plan sponsor solutions, we can cost-effectively handle all your retirement plan processing needs.

Expert Guidance for Distributions and Terminating Plans

As a retirement plan sponsor, you’re not in the business of designing retirement plans or managing the complicated distributions that accompany them. So why not rely on the experts to safely steer you through this complex and highly regulated field?

Our certified client service specialists have the knowledge and experience to help you make the right decisions while avoiding costly mistakes – for you and your plan participants. Whether you need to process a single distribution or terminate an entire plan, PenChecks gives pension plan sponsors peace of mind knowing that all your distributions will be handled in an accurate and timely manner.

Tax Payments and Filings

As a retirement plan sponsor, you’re responsible for ensuring that all aspects of a retirement distribution are properly handled. This includes remitting and reporting all tax payments to the federal government and state agencies as required. Failure to do so can result in costly fines and bureaucratic nightmares that can take months to correct.

PenChecks relieves you of these and other administrative burdens by reporting and remitting all required taxes from our trust account. Moreover, we can save you time and money by using our registered trust tax ID number to deal directly with the IRS and Department of Labor on any issues involving irregular accounts or inquiries.

Participant Communication

PenChecks can also relieve retirement plan sponsors of the administrative drudgery involved in distributing proper notification and forms to all plan participants. Using state-of-the-art online technologies, we offer the fastest and most efficient delivery of all participant notices, as well as collection of participant benefit election information. For retirement plan sponsors and participants that prefer a more traditional, paper-based solution, we can also mail paper forms, communication via email, and certified mail and express delivery options.

On-Call Assistance for Retirement Plan Sponsors

As part of our full menu of distribution services, PenChecks offers extended assistance to retirement plan sponsors and their participants at no additional charge. To ensure that you understand your rights and obligations under the law, and that your plan participants can get all their questions answered, our toll-free call center is open every business day from 7:00 a.m. to 5:00 p.m. PST.

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