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PenChecks, Inc. Hires New Director of Retirement Services Strategy

by | Nov 22, 2023

SAN DIEGO, CA, November 30, 2023 – PenChecks, Inc., parent company of PenChecks Trust®, a recognized leader in outsourced benefits distribution solutions, is pleased to announce Brian Furgala as the company’s new Senior Director of Retirement Services Strategy. His primary role will consist of leading the company’s strategic efforts by identifying business opportunities and working across product management, marketing, sales, and executive leadership teams to implement the business opportunities that best align with PenChecks’ long-term objectives.

“Brian’s broad experience as an ERISA attorney and senior executive for several leading retirement plan service providers will play a key role in positioning PenChecks as a leading fintech services provider in the finance industry,” says PenChecks President and CEO Spiro Preovolos. “His ability to identify opportunities and see the big picture will help us get where we want to go while ensuring we have a carefully considered strategy in place for everything we do.”

Prior to joining PenChecks, Furgala served as Director of 401(k) Education at Employee Fiduciary, a leading provider of low-cost 401(k) plans for small to medium-sized businesses. Before that he served as Director of ERISA Services for Wolters Kluwer’s, a provider of cloud-based employee benefits software and services to plan service providers. His responsibilities included ensuring the company’s retirement, welfare and non-qualified plan documents and software were compliant with legal, regulatory and procedural changes.

Furgala has also been an ERISA attorney for GrayRobinson, P.A., where he represented clients in handling their plan-related fiduciary duties and operations, government agency inquiries, and litigation. He also provided technical advice and consulting to service providers.

Furgala started his career by performing daily administration tasks for qualified plans as well as annual nondiscrimination testing and governmental reporting for a third-party administration division of KeyBank. He holds Qualified Pension Administrator (QPA) and Certified Pension Consultant (CPC) designations from ASPPA.

About PenChecks Trust

PenChecks Trust is a state-chartered, non-depository trust company and one of the largest independent providers of outsourced Benefit Distribution Services in the U.S. With almost 30 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, benefit election processing, missing participant searches, Automatic Rollover and Missing Participant IRAs, uncashed/stale-dated check resolution and Abandoned Plan/QTA services. Customers include Institutions, Third-Party Administrators, and Plan Sponsors, Advisors, and Participants.


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Each year, approximately five million Americans with small retirement accounts (currently defined as having balances of less than $7,000) change jobs – and at that point are forced to make a decision.

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Take it or Leave it

Each year, approximately five million Americans with small retirement accounts (currently defined as having balances of less than $7,000) change jobs – and at that point are forced to make a decision.


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