News & Press Releases

Learn what we’re doing to stay at the forefront of the retirement distributions space and help your business succeed.

PenChecks, Inc. Hires New West Regional Director

by PenChecks Trust | Jul 7, 2023

SAN DIEGO, CA, July 7, 2023 – PenChecks, Inc., parent company of PenChecks Trust®, a recognized leader in outsourced retirement plan distribution solutions, is pleased to announce Kevin Spaeth as their new West Regional Director. Spaeth has more than 25 years’ experience working in the defined contribution retirement system, with a focus on 401(k) plans. His responsibilities at PenChecks include working with Third Party Administrators (TPAs), plan sponsors, financial advisors and recordkeepers to create better retirement outcomes for America’s workers by providing distribution solutions that make it easier to build their retirement savings.

“Kevin will be a real asset to PenChecks selling variable and fixed annuities before transitioning to the retirement plan side of the business. He soon received a promotion to Sales Director, where he managed a sales team located in Boston and Atlanta. Prior to joining PenChecks, Loehr served as a Regional Sales Director for Northwest Plan Services (a Raymond James company), where he sold large, complex types of retirement plans.

Spaeth began his career with Merrill Lynch in 1997. He relocated to the West Coast to help American Funds build their PlanPremier product, and for the last 17 years has focused on working with TPAs. He managed sales for National Retirement Services’ west coast offices before moving on to work for Great-West. While at Great-West, Spaeth helped build their TPA program and saw the company transform into Empower.

Kevin has been a member of the National Institute of Pension Administrators since 2001, and currently serves on its Membership and Industry Ambassador committees. He has also been involved with the Western Pension Benefit Council, serving two terms as president of the Los Angeles chapter, and currently sitting on the board of the Portland chapter.

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.

Did you find this content helpful?

Let us know if you liked the post. That’s the only way we can improve.

Related Insights

Comments

0 Comments

Submit a Comment Cancel reply

Topics

SECURE 2.0 Force Out Limit and Plan Audits

The Economic Growth and Tax Relief Reconciliation Act of 2001, better known as EGTRRA, was signed by President Bush on June 7, 2001. EGTRRA made significant changes to income tax, capital gains tax, and estate and gift tax laws.

From Service Provider to Fintech Partner – The New Direction for PenChecks

Almost 30 years ago PenChecks Trust® opened for business with the goal of solving retirement plan distribution problems for plan sponsors and third-party administrators.

The Pros and Cons of Artificial Intelligence in the Financial Services Industry

Artificial Intelligence (AI) is a rapidly growing field with the potential to revolutionize the financial services industry. In recent years, AI has been used extensively in financial services to improve the customer experience, streamline operations, and identify fraud.

SECURE 2.0 Provides New Tools to Assist Plan Participants In Crisis

The primary goal of retirement plans is to provide income at retirement, but defined contribution plans have been permitted to make some distributions while participants are employed. The most common form of distribution to participants who are younger than age 59 ½…

Five Things You Need to Know When Switching Recordkeepers

There are few things more disruptive to the peace or clarity of a 401(k) plan than a switch in recordkeepers, even when the change is instigated by a regular, thoughtful, focused evaluation of the alternatives.

Protect Your Data with Cybersecurity and Privacy/Compliance Collaboration

Collaboration between cybersecurity and privacy/compliance teams is vital for safeguarding an organization’s sensitive data and maintaining regulatory compliance.

Sentinel Group

Company Situation:When missing terminated plan participants fail to claim their retirement accounts, plan sponsors retain fiduciary responsibility for the assets and must continue paying plan administration expenses for those former employees until they claim their...

Acuff & Associates

Company Situation:Acuff performed small account closeouts for two clients. One had a small plan with about 100 accounts. The other, a big retailer with automatic enrollment and a very large plan, had sizeable numbers of small accounts. Forcing out those accounts...

PenChecks, Inc. Hires New Senior Director of Product Management

PenChecks Trust®, a recognized leader in outsourced retirement plan distribution solutions, is pleased to announce Ron Kaplan as their new Senior Director of Product Management.