PenChecks, Inc. Announces Correction to Statement in Press Release as of September 20

SAN DIEGO, Sept. 22 /PRNewswire/ -- PenChecks, Inc. indicated in its press release as of Monday September 20 that Cardinal Pension Group had selected PenChecks to handle all of their 1099R processing and distributions of Balance Forward, Defined Benefit and certain types of 401(k) plans.

Correction: The press release should have said that Cardinal Pension Group selected PenChecks, Inc. to process two default IRAs only. PenChecks apologizes for the mistake.

About PenChecks, Inc.

Established in 1994, PenChecks is the largest and most trusted independent provider of outsourced benefit distribution services in the US. 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

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SOURCE PenChecks, Inc.