Tom Drosky, Western Regional Vice President for PenChecks Trust®, a leader in outsourced retirement plan distribution services, has been named President of the Western Pension & Benefits Council (WP&BC) Orange County Chapter. A member of the chapter for 10 years, Drosky’s two-year term will run from July 1, 2022 to June 30, 2024.
As president, Drosky’s primary duties include leading the chapter’s monthly meetings and coordinating and overseeing board meetings. He also represents the Orange County Chapter of the WP&BC Governing Board.
“At PenChecks we believe that professional education and growth is vital for a thriving retirement plan industry to serve its clients most effectively,” says PenChecks President and CEO Spiro Preovolos. “We are proud to have Tom step into a leadership role at the Orange County WP&BC Chapter. It’s indicative of, and entirely consistent with, Tom’s commitment to our industry. For decades, both Tom and the WP&BC have been serving organizations to help strengthen our marketspace.”
Founded in San Francisco in 1954, the WP&BC has expanded to 10 chapters in seven Western states with more than 1,500 members. Membership includes CPAs, ERISA attorneys, third party administrators, investment industry benefits specialists, financial advisors, actuaries, benefits consultants, and plan sponsor in-house benefits professionals.
“WP&BC membership has helped me become a more educated professional by interacting with specialists in other areas of our industry,” says Drosky. “Understanding their responsibilities and how they help clients has allowed me to build client relationships by referring them to experts in service areas PenChecks doesn’t provide. I’m grateful for the opportunity to give back to WP&BC as chapter president for Orange County.”
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 and Automatic Rollover IRAs and Missing Participant IRAs in the U.S. With over 25 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.