Cardinal Pension Group Outsources 1099R Processing and Distributions to PenChecks, Inc.

SAN DIEGO, Sept. 20 /PRNewswire/ -- PenChecks, Inc. announced today that Cardinal Pension Group, an independent employee benefits firm that provides administrative, actuarial and consulting services for qualified retirement plans, has reached an agreement with PenChecks, Inc. to handle all of their 1099R processing and distributions from Balance Forward, Defined Benefit and certain types of 401(k) plans. PenChecks' cost-effective, highly automated turnkey solution makes time-consuming and complicated transactions simple for organizations like Cardinal Pension Group.

The PenChecks proprietary technology drives a solution that integrates seamlessly into Cardinal Pension Group's business process without any additional capital costs, hardware or software requirements and staff. It reduces the time and costs required for administrative staff to handle all the aspects of 1099R processing and distributions.

"PenChecks is delighted to provide this important service to Cardinal Pension Group and their clients. This is a true win-win for all parties concerned: PenChecks saves them time and money and helps them focus on their core value to their customers," said Peter E. Preovolos, APA, RIA, AIFA, President & CEO of PenChecks, Inc.

About PenChecks, Inc.

Established in 1994, PenChecks is the largest and most trusted independent provider of outsourced benefit distribution services in the U.S. Since inception, PenChecks has pioneered the outsourced distribution industry with continued marketplace innovation and ever-increasing service standards. PenChecks' proprietary technology and expertise saves customers up to 60%-70% of staff time and 50% of hard costs in processing distributions. Customers include Plan Providers, Plan Advisors, Third Party Administrators and Plan Sponsors. In 2009, PenChecks processed nearly half a billion dollars in distribution payments. For more information, please visit PenChecks online at: http://www.penchecks.com or call toll-free at (800) 541-3938.

About Cardinal Pension Group:

Cardinal Pension Group is an independent employee benefit consulting firm that provides administrative, actuarial, and consulting services for qualified retirement plans.

The staff of Cardinal Pension Group includes actuaries, attorneys and administrators with many years of experience in all facets of employee benefits. Their knowledge includes plans of all types, sizes, and situations from simple to the complex. The staff consists of members of the American Society of Pension Actuaries with credentials including MSPA, QKA and QPA. For more information, please go to: http://www.cardinalpensions.com

This press release was issued through eReleases(R).  For more information, visit eReleases Press Release Distribution at http://www.ereleases.com.

SOURCE PenChecks, Inc.

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