Large Qualified Plan Benefit Processor Applies for Trust Charter in South Dakota

PenChecks, Inc., claimed to be the largest qualified plan benefit distribution processing organization in the nation, has applied for a trust charter in South Dakota. 

Currently, PenChecks serves primarily bank trustees and self-trustees by providing retirement plan benefit check processing and tax return preparation.  By establishing a trust company in South Dakota, PenChecks will be able to offer an affordable, all-in-one service in the state.

See Jerry Cooper, America’s Largest Qualified Plan Check Processor to Launch South Dakota Trust Company, The Trust Advisor Blog, Nov. 27, 2009.