PenSys, Inc.
FIRM INFORMATION 2440 Professional Drive, Suite 100, Roseville, CA 95661
Eric Sharp, (916) 918-0258, esharp@pensysinc.com
pensysinc.comBUSINESS PROFILEYear established:
1995National or local TPA:
NationalAre you a producing TPA or a 'non-producing TPA'?
Non-producingDC recordkeeping platform:
Yes (use our own platform only with some clients; use partner platforms for other clients)NUMBER OF PERSONNEL SERVING RETIREMENT PLANSSenior management:
3Other managers/administrators:
31Actuaries:
3Sales staff:
8Support staff:
40RETIREMENT PLAN PROFILERetirement plan assets under administration:
3,000,000,000Total number of retirement plans under administration:
2,900Total number of retirement plan participants under administration:
60,000NUMBER OF PLANS BY TYPE401(k):
2,200403(b):
5457:
5Nonqualified Deferred Compensation:
15Other DC:
180Defined Benefit/Cash Balance/Hybrid:
500FEE STRUCTURESFixed fee:
Fixed fee dependent on services chosenPer participant fee:
YesBasis points on assets:
YesOther:
Fees offset by revenue sharing agreements?
Yes State(s) where offices are located:
California (CA), Colorado (CO), North Carolina (NC)PLAN ASSET SIZES SERVED<$1 million:
Yes$1 million - $5 million:
Yes>$5 million - $10 million:
Yes>$10 million - $25 million:
Yes>$25 million - $50 million:
Yes>$50 million - $100 million:
Yes>$100 million - $200 million:
Yes>$200 million - $500 million:
Yes>$500 million - $1 billion:
No>$1 billion:
NoRECORDKEEPING RELATIONSHIPSNumber of recordkeepers with DC selling agreements:
20Number of recordkeepers with DC assets:
20Number of recordkeepers where new plans placed:
20FIDUCIARY SERVICESPlan level 3(16) services:
YesPlan level 3(38) services:
YesParticipant level fiduciary services:
NoPRODUCTS/SERVICES OFFERED TO ADVISERS AND/OR PLANSCompliance support:
YesPlan benchmarking:
YesTarget-date evaluation tools:
NoInvestment committee meetings:
NoDesign/amend DC plan documents:
YesDesign/amend DB plan documents:
YesRecordkeeper transitions:
YesPrepare benefit statements:
YesProcess plan distributions:
YesPrepare loan paperwork:
YesNon-discrimination testing:
YesAllocation of contributions/forfeitures:
YesCalculate participant vesting %:
YesActuarial calculations & support:
YesForm 5500 preparation:
YesForm 5500 signing:
YesPlan audit support:
YesQDRO review:
YesSmall rollover IRA processing:
YesProvide fiduciary education:
YesAnnual 408(b)(2) assessment of fees:
YesInvestment selection services:
NoInvestment monitoring:
NoPRODUCTS/SERVICES OFFERED TO PLAN PARTICIPANTSEnrollment meetings (at time of hire):
YesRe-Enrollment meetings (after hire):
YesOne-on-one meetings with participants:
NoRollover assistance (into plan):
YesDistribution assistance (upon separation):
YesRetirement income planning:
NoFinancial/debt counseling:
NoEstate/tax planning:
NoAuthorize participant requests:
YesPrepare/deliver required participant notices:
Yes
