TPAs / Plan Consultants

Making Life Easier for Third-Party Administrators

As a TPA, you know the myriad rules and regulations associated with pension plan distributions. But why waste your time trying to come up with a process that satisfies all of those rules and regs all the time, every time, and for all the various types of retirement plan distributions?

PenChecks can make your life a lot easier by taking over all the tedious and time-consuming tasks associated with benefits distribution processing. We streamline the entire benefits distribution process so you can focus your time and energy on your clients and on growing your business.

Comprehensive Distribution Processing
 for Third-Party Administrators

For more than two decades, PenChecks has been helping TPAs with their distribution processing needs. Thanks to our innovative technology and proprietary processes, we can process all types and sizes of distributions on your behalf. From participant communications to benefit election processing, payment services and more, our comprehensive suite of TPA services covers all your distribution processing needs.

At PenChecks, we’re known far and wide for our legendary customer service. We assign an experienced account executive to your account, so that you have one primary point of contact throughout the relationship. We can work directly with your plan sponsor clients when needed. And we can tailor all our products and services to meet your specific distribution needs.

With PenChecks retirement plan benefit distribution services, you can:

  • Significantly reduce your direct contact with plan participants, freeing up your staff to focus on higher-value activities
  • Eliminate the time and manpower required to manage special tax notices (we do it for you!)
  • Avoid the time and expense of training and monitoring your staff on ever-changing benefits distribution rules and regulations
  • Eliminate the need to become expert in 1099 processing, IRS filings, default/missing participant IRA rollover plans, and other retirement plan distribution elements
  • Smooth out bulges in your workflow and payroll by eliminating the need to gear up at year-end and tax time
  • Stop worrying about whether a plan sponsor client is properly handling tax payments (we do it for you!)

Automatic Lead Generation
 for Producing Third-Party Administrators

Fast, efficient lead generation is critical for growing your business. Our proprietary distribution system automatically facilitates lead generation to brokers and advisors. In fact, every time we process a distribution for a producing TPA, the system can electronically send the lead to the broker of record on the plan. To help you follow up on the highest-value leads, we can also customize the process to discriminate against participant balances that fall below any threshold of your choosing.

With PenChecks’ lead generation, there’s:

  • No additional software to install
  • No extra in-office processes or procedures to implement
  • No additional cost

Our customizable lead generation gives you an easy way to help retain and grow assets under management. You get built-in lead generation right from the start!

Streamlined Business Operations

With PenChecks, you can get paid the same amount from your clients for doing a fraction of the work. Our process streamlines and simplifies your workload by handling all distribution processing and monitoring in one simple online application.

  • Eliminate the need for paper
  • No hardware to buy or hard copy records to maintain
  • Significantly reduce staff training time and expenses
  • Avoid the inefficiency of learning, training and remembering how each individual institution or custodian you work with operates

When partnering with PenChecks, you get one simple, precise, repeatable process to handle all your distribution processing needs in a timely and cost-effective manner.

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