One of the challenges of administering a retirement plan is the timely and proper payment of distributions to plan participants. This responsibility occurs in more than one context, and can have a number of “facts and circumstances” variations.
Did you know that industry estimates indicate that approximately 10% of retirement plans change recordkeepers every year? The COVID-19 pandemic may have reduced that number temporarily.
In recent months, the topic of Cyber Security insurance has crept to the top of the charts for the Department of Labor’s (DOL) ERISA Advisory Council (EAC). Each year, the EAC picks topics it deems crucial to the administration of ERISA.
Have you or your business fallen victim to a social engineering scam? Are you concerned about having sensitive client data stolen from your computer network by a cyber hacker? If so, you’re not alone, as cyber security has become an ever-growing threat to individuals and companies around the globe.
Cybersecurity technologies and methods used to protect a company’s data have significantly evolved over the last two decades. Unfortunately, so have the cyber criminals (hackers) who relentlessly pursue the riches to be made from stealing personal information and other sensitive data.
At PenChecks Trust™ we’re in the business of providing solutions to the retirement plan industry. Most of those solutions involve payment processing services and the care and administration of missing participant assets.
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