PenChecks Trust

Providing trusted outsourced partner solutions, PenChecks Trust handles a variety of benefit payment distribution situations, from abandoned plans to uncashed checks. The La Mesa, California, firm is privately held and its professionals have more than two decades of combined experience in the provision of quality retirement processing services. PenChecks Trust’s innovative technologies meet the diverse needs of plan sponsors institutions, administrators, and advisors.

PenChecks Trust is comprised of a family of companies that maximizes clients ability to resolve issues in a timely and cost-effective manner, while avoiding exposure and risk issues. PenChecks Missing Distributees emphasizes best practice solutions to the increasing challenge presented by still-to-be-claimed distributions, such as plan participants’ uncashed checks.

PenChecks Trust also offers a comprehensive recurring benefit payment distribution solution. Aspects handled include ensuring compliance with reporting, remittance, and withholding requirements related to state and federal taxes. The firm’s alternative payment processing offering provides a single point of processing for complex IRA rollover and lump sum distributions.