PenServ Plan Services
PenServ Plan Services is a women-owned third-party administrator and recordkeeper providing compliance testing, plan design, and 24/7 web/mobile administration for 401(k), 403(b), and 457(b) retirement plans, serving 4,600+ employers and 290,000+ participants across for-profit, nonprofit, educational, government, and religious organizations in the United States.
- Company typePrivate
- Founded2007
- HeadquartersWest Columbia, United States
- Headcount101–250
- GTM typeB2B
- OfferingServices
What PenServ Plan Services does
PenServ Plan Services, Inc. is a privately held, women-owned third-party administrator (TPA) and recordkeeper headquartered in West Columbia, South Carolina, with an additional operational office in Horsham, Pennsylvania. The firm provides full-service administration for qualified retirement plans — 401(k), 403(b), and 457(b) — covering compliance testing and auditing, plan design and documentation, investment provider analysis, transaction processing, valuations and accounting, distribution processing, EPCRS submissions, non-qualified plan design, beneficiary management, and terminated participant tracking. Its client base spans more than 4,600 employers and 290,000 plan participants, with plan sizes ranging from roughly 100 to over 18,000 participants, and includes for-profit employers, nonprofit organizations, public and private educational institutions, state and local government entities, and houses of worship.
The company's core technology is the "Balance" TPA and recordkeeping platform, a proprietary system maintained solely by PenServ IT professionals. It provides advisors, sponsors, and participants with 24/7 web and mobile access to enrollment, educational content, investment provider information, customized dashboards, instant-access reporting (contributions, exceptions, investment utilization, event/incident tracking), and immediate distribution approvals for hardship and loan requests. Data and asset protection are delivered through SSAE-18 compliant data centers with redundant air and power backups, 2-factor verification for physical access, 24/7 intrusion monitoring, and annual SOC 1 Type 2 and SOC 2 Type 2 audits by an independent CPA firm. Asset custody is anchored through a strategic partnership with Matrix Trust (a Broadridge company), the largest independent custodian of employer retirement plans.
PenServ monetizes through administrative fees charged to plan sponsors for managed TPA and recordkeeping services, supplemented by revenue from training seminars, multi-day conferences (PenServ Academy, IRA Academy, Annual Conference), in-house training solutions, and webinars — programs led personally by President Susan D. Diehl, who holds five specialized retirement plan credentials (QPA, CPC, ERPA, TGPC, BCF). Go-to-market is relationship-based direct sales: dedicated account specialists are assigned to each plan for the life of the relationship, supported by phone sales lines and a 24/7 portal, and reinforced through professional credentialing as an IRS, NASBA, CFP Board, and ABA continuing education sponsor and as a WBENC-certified Women's Business Enterprise / SBA-certified Women-Owned Small Business.
PenServ Plan Services firmographics
Firmographics- Name
- PenServ Plan Services
- Legal name
- PenServ Plan Services, Inc.
- Website
- https://penserv.com
- Company type
- Private
- Founded year
- 2007
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- PenServ Plan Services is a women-owned third-party administrator and recordkeeper providing compliance testing, plan design, and 24/7 web/mobile administration for 401(k), 403(b), and 457(b) retirement plans, serving 4,600+ employers and 290,000+ participants across for-profit, nonprofit, educational, government, and religious organizations in the United States.
- Ownership category
- akta.pro rank
PenServ Plan Services industry classification
Industry- Product category
- Retirement Plan Administration (TPA) and Recordkeeping
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Finance Services (6199)
- akta.pro primary industry
- Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers) (FSAAACAE)
- akta.pro secondary industry
- Retirement Plan Participant Advice & Managed Accounts (FSAEABAF)
Keywords
Where PenServ Plan Services is headquartered
LocationHeadquarters
- HQ city
- West Columbia
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
PenServ Plan Services business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Technology or R&D, Infrastructure, Marketing or Sales
Revenue model
- TPA and Recordkeeping Services: Full-service third-party administrative (TPA) and recordkeeping services for 401(k), 403(b), 457(b) retirement plans. Services include compliance testing, auditing, document services, plan design, investment provider analysis, transaction processing, valuations and accounting, distribution processing, and relationship management. Revenue is generated through administrative fees charged to plan sponsors.
- Training Seminars and Conferences: Revenue generated from training programs including multi-day seminars, workshops on PenServ plan documents, advanced three- and four-day in-depth conferences, customized in-house training solutions, and hot-topic webinars. Programs address retirement plan industry topics and provide continuing education credits.
Go-to-market motion1 record
Distribution channels4 records
Marketing channels4 records
PenServ Plan Services product offering
Product offeringCore offering
PenServ Plan Services provides full-service third-party administration (TPA) and recordkeeping for qualified retirement plans, including 401(k), 403(b), and 457(b) plans. Its offerings encompass compliance testing, auditing, plan design and documentation, investment provider analysis, transaction processing, valuations, distribution processing, beneficiary management, EPCRS submissions, and conversion services, supported by a 24/7 web/mobile portal and dedicated relationship teams.
Product overview
PenServ Plan Services offers a unified retirement benefits administration platform centered on its Balance TPA and recordkeeping system. The platform integrates relationship management services, 24/7 account access portals for participants/sponsors/advisors, real-time reporting dashboards, and a structured conversion process for plan transitions. Supplementary services include compliance testing, document services, training seminars, and educational conferences. The product portfolio is designed as a single integrated ecosystem for administering 403(b), 457(b), and 401(k) plans for employers, educational institutions, government entities, and houses of worship.
Differentiator
Problem solved
Functional benefit
Products and services
- Balance TPA and Recordkeeping Services Full-service third-party administration (TPA) and recordkeeping for 401(k), 403(b), and 457(b) retirement plans, providing point-to-point monitoring, compliance testing, auditing, document services, transaction processing, valuations and accounting, distribution processing, beneficiary management, terminated participant tracking, EPCRS submissions, and disclosure administration. Served to plan sponsors including for-profit employers, nonprofit employers, educational institutions, government entities, and houses of worship.
- Plan Conversion Services
Quantifiable outcome
- Supporting 4,600+ employers and 290,000+ plan participants
- +2 more outcomes
Companies that use PenServ Plan Services
Customer profileSegments7 records
PenServ Plan Services technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
PenServ Plan Services partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- Matrix Trust (A Broadridge Company)corePenServ is partnered with Matrix Trust, the largest independent custodian of employer retirement plans. As 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. This partnership provides custodial services for plan assets managed through PenServ's administration platform.
Scale indicators7 records
Recent moves4 records
Expansion highlights4 records
PenServ Plan Services competitors and assessment
Company assessmentMarket position
Strengths4 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
PenServ Plan Services social profiles
Digital presencePenServ Plan Services compliance and trust
Trust signalCompliance4 records
PenServ Plan Services financial estimates
Financial estimateRevenue estimate
Valuation estimate
PenServ Plan Services leadership team
Management profileNumber of profiles
Profiles1 record
PenServ Plan Services funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
PenServ Plan Services M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about PenServ Plan Services
What does PenServ Plan Services do?
PenServ Plan Services provides full-service third-party administration (TPA) and recordkeeping for qualified retirement plans, including 401(k), 403(b), and 457(b) plans. Its offerings encompass compliance testing, auditing, plan design and documentation, investment provider analysis, transaction processing, valuations, distribution processing, beneficiary management, EPCRS submissions, and conversion services, supported by a 24/7 web/mobile portal and dedicated relationship teams.
Is PenServ Plan Services a public or private company?
PenServ Plan Services is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was PenServ Plan Services founded?
PenServ Plan Services was founded in 2007. It employs 101 to 250 people.
Where is PenServ Plan Services based?
PenServ Plan Services is headquartered in West Columbia, United States, in the North America region.
How does PenServ Plan Services make money?
Two revenue lines are on record. TPA and Recordkeeping Services are the primary driver. The others are training Seminars and Conferences.
Does PenServ Plan Services have an API?
No public API is recorded for PenServ Plan Services.
What industry is PenServ Plan Services in?
PenServ Plan Services's product category is Retirement Plan Administration (TPA) and Recordkeeping. Its primary akta.pro industry code is FSAAACAE, Retirement & Distribution Planning RIAs (401(k)/IRA/Pension Rollovers), with a secondary code of FSAEABAF, Retirement Plan Participant Advice & Managed Accounts. Its NAICS code is 524292 and its SIC code is 6199.