Vendor Sheet
Recurring Benefits Payment Services
PenChecks Trust eliminated the intense administrative friction of managing ongoing retirement distributions through its specialized Recurring Benefit Payment software. Plan sponsors frequently face immense operational hurdles handling continuous monthly payouts, tracking fluid address changes, and managing complex, multi-state tax withholding variables. PenChecks’ advanced technology completely automates this lifecycle, seamlessly processing paper checks or electronic deposits while executing precise regulatory reporting and tax remittances. The system automatically cross-references data to flag invalid addresses, keeping accounts fully compliant. Ultimately, this software integration takes labor-intensive monthly tasks off staff plates, dramatically slashes plan administration costs, and
