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BALANCE

Balance is the focal point of everything we do. Our wide range of Third Party Administrative (TPA) and recordkeeping services provide point-to-point monitoring, security, and testing to ensure every aspect of a plan is accounted for, and that it is legally compliant with qualification and regulation guidelines.

PenServ is a full service retirement and benefits company, offering superior consulting and compliance services to the retirement and benefits industry. In an ever-changing legal and regulatory landscape, we have the expertise and technology to successfully meet the diverse needs of our clients.

30

YEARS PROVEN 
EXPERIENCE

Working with:
•  Financial Advisors
•  Employers Large & Small Nationwide
•  Educational Institutions
•  Government and Churches

SERVICES

More Than Recordkeeping

As an independent firm, PenServ is a recognized leader in the retirement plan marketplace, providing TPA and Recordkeeping services, compliance testing, auditing, and document services for profit and non-profit employers, government, educational, institutions, and houses of worship.

TPA and Recordkeeping

Since 2007, PenServ has been guiding employers with the focused design and preparation of required plan documentation, analysis and management of investment providers, and the many compliance responsibilities associated with retirement plans. As the Third Party Administrator (TPA), PenServ provides a full range of services designed to ensure the quality and value of your retirement program.

  1. Relationship Management Approach

  2. Cash & Asset Management Processing

  3. Transaction Processing

  4. Valuations and Accounting

  5. Distribution Processing

Technical Assistance
and Consulting for
2,000+
Employers, Law Firms, CPAs, Banks, Financial Institutions and Mutual Fund Companies
Assisting More Than
4,600
Employers & More Than
290,000
Plan Participants
Processing Approximately
125,000
Payrolls Annually
Plan Sizes Handled
100
To More Than
18,000
Plan Participants

Ancillary Services

One of the most critical decisions for plan sponsors is the choice of a TPA partner.  PenServ clients rely on us to be a trusted centralized entity responsible for handling the ongoing challenges of plan administration and legal compliance. Our extensive selections of retirement program services are customized to meet your specific requirements.

  1. Full Service TPA for 401(k), 403(b), 457(b) for Profit, Non-Profit, Educational Institutions, Government and Church Plans

  2. EPCRS Submissions

  3. Non-Qualified Plan Design

  4. Mass Submitter of Prototype and Volume Submitter Documents

  5. Disclosure Administration

  6. Beneficiary Management

  7. Terminated Participant Tracking/Locator Service

  8. Technical Training for Largest Mutual Fund Companies

Training Seminars and Conferences

PenServ’s wide variety of training programs enables organizations to equip their staff with vital and accurate information concerning the constantly changing retirement plan industry. These educational programs address myriad topics via multi-day lecture type seminars, workshops specifically designed to cover PenServ plan documents, advanced three and four day in-depth discussions through PenServ’s conferences, customized in-house training solutions, and ‘hot topic’ webinars.

For more information about these training seminars and educational services, contact the PenServ Consulting Team: 215.444.9812 x5042

PenServ
IRA Academy
PenServ
Academy and
Annual
Conference
In-House
Training
Institution
and Advisors
Newsletters

Training Seminars and Conferences are led by Susan D. Diehl, QPA, CPC, ERPA.

PenServ is registered with the Certified Financial Planners Board of Standards, Inc. PenServ is an IRS-Approved Continuing Education Provider. PenServ is registered with the National Association of State Boards of Accountancy (NASBA), as a sponsor of Continuing Professional Education of the National Registry of CPE sponsors.

OUR APPROACH

Service Excellence
Has A First Name

Plan Sponsors work with the same account specialists through the life of the plan. Their designated PenServ Relationship Team manages all activities and documentation to relieve Plan Sponsors from the need to address day-to-day administrative functions, resulting in savings of money and time.

Relationship Service

The Relationship Team handles all aspects of a retirement plan using three principles to provide exceptional account service.

MONITOR
The Relationship Team monitors the assigned plan and completes an annual review to ensure compliance and current regulations are maintained.

INFORM
When rules and regulations change, the Relationship Team informs the Plan Sponsor of changes that may impact the plan, providing guidance and solutions to meet the specific needs of the Plan Sponsor.

COMMUNICATE
The Relationship Team assists the Plan Sponsor with document changes and will help communicate those changes to Plan Participants. Additionally, the Relationship Team is available to help individuals requesting information on procedures concerning payment of benefits.

Full Administrative Services

With PenServ as the TPA, the Relationship Team provides full administrative services, as well as, focus on compliance and regulations to ensure contributions, distributions, and general operations are managed according to the plan document.

Plan Sponsor
Support
Participant
Assistance
Transaction
Oversight
Compliance
Calendar
Maintenance

For more information about the full range of services the PenServ Relationship team provide, call us at 888.473.7888

CONVERSIONS

Future Forward

PenServ can take your current retirement plan into the future with new options and improvements that provide enhanced value to your employees. Your dedicated PenServ Conversion Team conducts a due-diligence review of the existing program using a structured process that will quickly identify what works and does not, offering alternative suggestions.

Phase 1: Fact Finding
Phase 2: Develop Framework
Phase 3: Scope and Timeline
Phase 4: Implement Design
Phase 5: Activate Plan

The 5-step process creates a plan design to handle the day-to-day plan activities, fulfills the plan sponsor's needs, and meets all plan specific qualifications and regulations. When the conversion process is complete, the plan is assigned to a PenServ Relationship Team for management and oversight.

QUESTIONS?

New Plan or Converting An Existing Plan, We Can Help.
Call PenServ at 888.473.7888

TECHNOLOGY

Account Access... Wherever

Advisors, Sponsors and Participants have 24/7 access to enrollment and educational systems, information on investment providers, and a variety of user-friendly tools to manage retirement accounts.  Amounts available for hardship and loans are captured and displayed in the system, and employees can receive immediate approval for distribution of available funds.

PenServ Desktop AccessPenServ Mobile Access
Plan Sponsor Reports and Management Summaries

PenServ systems are designed maintained solely by PenServ IT professionals, so plan sponsors can manage their account 24/7 using instant-access reports, summaries, and activity tracking from desktop and smart mobile devices.

  1. Summaries for Contributions, Transactions, Distributions

  2. Reports for Exception, Investment Utilization, and Event/Incidents

  3. Contributions

  4. Participant Distribution Activity

  5. Website Performance / Tracking

Customized Features And Options

PenServ provides 24/7 account access to plan sponsors and participants from desktop and smart mobile devices. Our systems offer client specific customizations to the account login, dashboard format and report options. Additional features provide sponsors and participants with efficient tools to help themselves make informed decisions concerning their retirement account.

  1. Client Specific Login and Dashboard Customization

  2. Financial Planning Tools

  3. Learning Center

  4. Online Training Videos

  5. Personal Reporting OnDemand

  6. Participant Messaging And Notifications

PenServ secures all plan data on its own data systems network with multiple levels of security and safeguards that meet industry standard security protocols and guidelines.

DATA AND ASSET PROTECTION

Secured and Protected

Our strategic plan for IT structure is aligned with corporate objectives and reflects our company’s culture standards: Integrity management, ethical reporting of all activities, proactive approach toward probable risk and likelihood of threats, accountability for IT processes to ensure effectiveness of internal controls, and our firm commitment that external standards and requirements are being met.

Accuracy Ensured With Audited Controls

Controls and procedures are audited each year by an independent CPA firm to ensure plan activities are handled and maintained according to AICPA standards for a financial institution.

If the plan requires an independent audit, the SSAE-18 report on internal controls will permit the employer’s CPA to conduct a limited-scope audit. Throughout the process, PenServ works directly with the audit firm to provide detailed reports and sampling documentation.

PenServ is partnered with Matrix Trust, the largest independent custodian of employer retirement plans. As a part of Broadridge, one of the largest financial administrative firms in the U.S., Matrix has processes and controls in place to ensure plan assets are secure. For more information visit Broadridge.com.

  1. Annual SOC 1 Type 2 Audit By Independent CPA firm

  2. Monitoring Controls and Procedures Ensures Activities Meet AICPA Standards

  3. Secure File Transfer of Data

  4. System Access Tracking

  5. Limited Employee Access Levels

  6. Monitoring of Workstation Security

  7. Assets Protected by Matrix Trust

Sensitive Data and Records Protected

State-of-the-art industry-standard measures are in place to ensure all plan and participants data is secure on PenServ's onsite and offsite data centers.

Only PenServ IT staff and programmers have access to the PenServ systems. The data center is monitored and controlled by 2-part verification electronic identification with entry/exit captured in permanent electronic media. All data systems, on redundant air and power backup systems, are continuously duplicated and stored at the PenServ offsite data storage center which can be activated at a moment's notice if necessary.

  1. Redundant Air and Power Backup Systems 

  2. Continuous Data and System Backups

  3. SSAE-18 Compliant Data Centers

  4. 2-Factor Verfication Electronic ID of All Data Center Entry and Exit

  5. Individually Secured Cages, Full and Half Cabinets

  6. 24/7 Intrusion Monitoring

  7. 24/7 Physical Location Protection

NEWS & ANNOUNCEMENTS

PenServ e•News

Information about PenServ Plan Services and changes in the retirement account industry.

The CARES Act and Your Retirement Account

The CARES Act will prove to be impactful for individuals, families, and businesses. PenServ is working to ensure your plan is compliant with the CARES Act and all other applicable laws. Click to read more.

READ MORE

The SECURE Act and Your Retirement Account

You can trust PenServ to ensure your plans are compliant with the SECURE Act and other applicable laws. Learn more the Secure Act, some of its key elements, and how they may have an impact on you.

READ MORE
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