Recurring Benefit Payment Service

Expert Recurring Payment Processing

Recurring pension payments are a time-consuming but necessary part of administering a pension plan. A leader in customized retirement plan solutions, PenChecks Trust® can help reduce your administrative workload with our convenient Recurring Benefit Payment Service.

A flexible program designed to meet the needs of plan providers, administrators and sponsors, this convenient service:

  • Offers a choice of monthly, quarterly, semi-annual or annual benefit distributions for retirees in pay status
  • Provides multiple recurring payment processing options
  • Invoices the plan according to your selected payment schedule
  • Keeps you compliant with regulatory recurring payment requirements

We also handle state and federal tax withholding, remittance and tax filing so you don’t have to.

Call 800.541.3938 to speak with a Recurring Benefit Payment Specialist today!

Recurring Payment Processing You Can Count On

Our easy-to-use Recurring Benefits Payment Service delivers pension plan payments that are on time and accurate. Payments can be made via check or ACH.

To minimize your administrative workload, we:

  • Withhold and remit federal and state taxes
  • File applicable tax forms, including 1099-R, 945 and 1096
  • Perform weekly death audits to minimize potential over payments
  • Provide an annual participant tax withholding inquiry
  • Monitor and resolve all returned or uncashed disbursements
  • Perform address searches as needed

You get all of these time-saving services for one low fee, based on your selected recurring payment processing schedule.

Enroll in PenChecks’ Recurring Benefit Payment Service today! For further assistance, call our Client Service Center at 800.541.3938.
Work Smarter

Learn how outsourced distribution processing can make your life easier.

Call 800.541.3938 to speak with our Distribution Experts today.