Payment Processing Services

We Do the Heavy Lifting for You

As an Institution, Third-Party Administrator (TPA), Advisor or Plan Sponsor, retirement plan distributions probably aren’t part of your company’s core competencies. At PenChecks Trust®, it’s been our primary focus for over 25 years.

Call 800.541.3938 to speak with a Payment Processing Specialist!

We were one of the first to offer outsourced and backoffice retirement plan payment processing solutions.

Over the years we have developed specialized payment processes that keep you compliant while handling your retirement plan distribution needs. These include:

Express Distributions

Offers a fast, affordable solution for getting your retirement plan payments out on time and accurately. We remove the burden of tax remittance and filing for the plan sponsor, and the TPA having to process the 1099-R / 945 forms.

Premier Distributions

Provides a turnkey solution where the entire benefit election process and payment process is handled by PenChecks. We take care of the mailings, participant inquiries, receiving their payment instructions and processing their payments.

Plan Terminations

The Department of Labor requires that plan sponsors take many steps to properly terminate a plan. We help manage the entire participant outreach and interaction to assist them with their distribution options and create a workflow to handle missing and non-responsive participants.

Recurring Benefit Payments

For retirees in pay status from a defined benefit plan, we manage the accurate processing of monthly, quarterly, semi-annual and annual benefit distributions.

ESOP Distributions

If you have an ESOP or administer one, we can assist in handling the complexities of ESOP distributions so you don’t have to.

Have questions? Call 800.541.3938 / Schedule a Consult.

Save Time. Reduce Risk. Lower Operating Costs.

Our affordable retirement distribution solutions make your retirement benefit processing simple without breaking the bank.
  • We reduce your administrative workload by taking time-consuming (but important!) tasks off your plate.
  • We lower your risk by eliminating exposure to tax withholding, payment and reporting penalties and standardizing your distribution process to reduce errors.
  • Generally, our fees can be deducted directly from the participant’s account, making our services available to you at no cost. (Not permitted with defined benefit plans.)
  • Your staff can focus on providing great service to customers. You can focus on growing your business.

Make your work life easier with PenChecks Trust Payment Processing Services. Call 800.541.3938 today, or schedule an appointment with one of our Payment Processing Specialists.

Work Smarter

Learn how outsourced distribution processing can make your life easier.

Call 800.541.3938 to speak with our Distribution Experts today.