Education Archives - PenChecks Trust

SECURE 2.0 Force Out Limit and Plan Audits

by Mike McWherter | Aug 4, 2023 | Blog

The Economic Growth and Tax Relief Reconciliation Act of 2001, better known as EGTRRA, was signed by President Bush on June 7, 2001. EGTRRA made significant changes to income tax, capital gains tax, and estate and gift tax laws.

Avoiding Improper Retirement Plan Distributions: The DOL and the Good, the Bad and the Ugly

by Mike McWherter | Aug 18, 2022 | Blog

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.

SSRA and RSSA: The Next Step in GID (Getting It Done)?

by Mike McWherter | Mar 16, 2022 | Blog

I learned a long time ago that laws can be like sausage. They may look great but you don’t want to see them being made.1 That may also help explain how we get some of the unusual, sometimes pithy acronyms used for new legislation.

PenChecks, ASPPA Announce Expanded Scholarship Program and 2021 Recipients

by PenChecks Trust | Dec 15, 2021 | News & Press

The Board of Directors for PenChecks, Inc., a leading provider of retirement plan distribution services, announced today that company President Spiro G. Preovolos has been elected as the new CEO.

Using Your Brain To Win – Presented by Holly C. Green, CEO – The Human Factor

by PenChecks Trust | Jan 12, 2021 | Expert Series Webinars & Videos

Presented as part of ASPPA’s webcast education program, nationally known leadership expert Holly Green combines her leadership experience with the latest in neuroscience to illustrate how using your brain more effectively can help you make better decisions that lead...

IRS Correction Series – Presented by Brian Furgala, ERISA Attorney (4 Part Series)

by PenChecks Trust | Jan 12, 2021 | Expert Series Webinars & Videos

Learn how the IRS EPCRS program helps correct retirement plan mistakes, avoid IRS sanctions and keep plans compliant. Presented by: Brian Furgala, ERISA attorney for the law firm of Gray-Robinson.IRS Correction Programs: Part I – Overview of EPCRSEPCRS Self-Correction...

Topics

SECURE 2.0 Force Out Limit and Plan Audits

From Service Provider to Fintech Partner – The New Direction for PenChecks

Almost 30 years ago PenChecks Trust® opened for business with the goal of solving retirement plan distribution problems for plan sponsors and third-party administrators.

The Pros and Cons of Artificial Intelligence in the Financial Services Industry

Artificial Intelligence (AI) is a rapidly growing field with the potential to revolutionize the financial services industry. In recent years, AI has been used extensively in financial services to improve the customer experience, streamline operations, and identify fraud.

SECURE 2.0 Provides New Tools to Assist Plan Participants In Crisis

The primary goal of retirement plans is to provide income at retirement, but defined contribution plans have been permitted to make some distributions while participants are employed. The most common form of distribution to participants who are younger than age 59 ½…

Five Things You Need to Know When Switching Recordkeepers

There are few things more disruptive to the peace or clarity of a 401(k) plan than a switch in recordkeepers, even when the change is instigated by a regular, thoughtful, focused evaluation of the alternatives.

Protect Your Data with Cybersecurity and Privacy/Compliance Collaboration

Collaboration between cybersecurity and privacy/compliance teams is vital for safeguarding an organization’s sensitive data and maintaining regulatory compliance.

Sentinel Group

Company Situation:When missing terminated plan participants fail to claim their retirement accounts, plan sponsors retain fiduciary responsibility for the assets and must continue paying plan administration expenses for those former employees until they claim their...

Acuff & Associates

Company Situation:Acuff performed small account closeouts for two clients. One had a small plan with about 100 accounts. The other, a big retailer with automatic enrollment and a very large plan, had sizeable numbers of small accounts. Forcing out those accounts...

PenChecks, Inc. Hires New Senior Director of Product Management

PenChecks Trust®, a recognized leader in outsourced retirement plan distribution solutions, is pleased to announce Ron Kaplan as their new Senior Director of Product Management.