Trust Resolution Services
Tired of struggling to keep up with today’s ever-changing regulatory environment surrounding missing plan participants and abandoned plans?
Our innovative trust resolution services help you:
- Save time and lower administrative costs
- Reduce fiduciary risk
- Stay compliant with ERISA regulations
- Reunite plan participants with their retirement money
- Terminate abandoned plans in compliance with Department of Labor regulations
Call 800.541.3938 to speak with a Trust Resolution Specialist today!
Our missing distributee services reduce your administrative burden by locating missing distributees or establishing Tax Savings Accounts in their names. We:
- Provide a safe, secure method for resolving unclaimed retirement plan assets
- Protect missing participants against double-taxation on their distribution
- Help Plan Sponsors avoid financial penalties and potential lawsuits
- Provide fully compliant escheatment services
Abandoned retirement plans present unique trust resolution challenges.
These include lack of authority to continue working for the plan, increased fiduciary liability, ongoing costs without additional compensation, the inability to process payments to plan participants, and potential prohibited transactions that can lead to litigation from participants.
PenChecks Trust helps you properly terminate abandoned plans with an end-to-end Qualified Termination Administration (QTA) solution that protects participant assets and is fully supported by the Department of Labor once PenChecks Trust has been appointed as the QTA for the plan.