Press Release

PenChecks Launches NextLevel IRA® v2: A Game-Changing IRA Platform Empowering Advisors and Recordkeepers to Retain More Retirement Assets

Issued by PenChecks, Inc.

Apr. 25, 2025

Solution features services from Broadridge, iJoin, Mesirow, and Stadion

SAN DIEGO, CA – PenChecks, Inc., parent company of PenChecks Trust®, a leader in outsourced benefits distribution and automatic rollover IRA solutions, is proud to announce the launch of NextLevel IRA v2—a powerful, fully automated IRA platform designed to streamline rollovers, reduce plan leakage, and deliver better retirement outcomes for participants.

Designed for financial advisors and recordkeepers, NextLevel IRA v2 addresses a longstanding challenge in the retirement industry: asset leakage. By streamlining the rollover process, reducing friction, and delivering a personalized experience, the platform empowers advisors to retain assets that might otherwise exit the retirement system—or transition to another provider - especially from smaller-balance accounts often overlooked by traditional models.

“With most RIAs and recordkeepers lacking a compelling, scalable IRA solution, we created a platform that removes barriers and delivers real value for both advisors and investors,” said Spiro Preovolos, President and CEO of PenChecks. “NextLevel IRA makes it easier than ever for advisors to capture rollovers from the plans they already serve, while recordkeepers can expand their reach by motivating advisor partners to stay within their ecosystem.”

NextLevel IRA v2 offers a range of robust features designed to simplify and enhance the rollover process. In partnership with iJoin, the platform delivers a fully digital prospecting and onboarding experience that eliminates manual processes and closes communication gaps between advisors and participants. The platform’s Invest4U™ personalized investment management technology leverages iJoin’s managed account marketplace that provides connectivity to professional investment solutions from Stadion and other leading providers - or even build their own strategies. To support compliance, the platform integrates with Broadridge’s Decision Optimizer, which streamlines suitability reviews. Additionally, Mesirow¹ offers optional platform-level investment selection and monitoring to deliver fiduciary-grade oversight.

“With this enhanced version, we’ve brought together a powerhouse of partners to create a truly turnkey, tech-forward IRA experience,” said Scott Okrasinski, Chief Revenue Officer at PenChecks. “We’re helping advisors go beyond high-net-worth rollovers and tap into balances that have traditionally been overlooked. It’s a win for advisors, recordkeepers, and most importantly, for the individuals saving for retirement.”

NextLevel IRA addresses a persistent challenge in the retirement industry – leakage - which occurs when participants cash out or move funds to an outside firm when they leave a job. By educating participants on their options and offering a personalized, cost-effective solution, NextLevel IRA is helping stakeholders keep assets within their ecosystem while improving participant outcomes.

“During the initial launch of NextLevel IRA, we saw significant improvement in outcomes for participants with smaller balances, many of whom rolled over into NextLevel IRA instead of taking cash distributions,” added Okrasinski. “With version 2, we’re building on that success by scaling advisor adoption and enhancing the tools available to all stakeholders.”

Preovolos concluded, “Technology, personalization, and automation are the keys to improving retirement outcomes. NextLevel IRA v2 brings these elements together in a way that helps everyone win - participants, advisors, and recordkeepers alike.”

For more information about NextLevel IRA v2, visit www.NextLevelIRA.com or contact us at 877-267-4721.

About PenChecks Trust

PenChecks Trust® is a state-chartered, non-depository trust company and one of the largest independent providers of outsourced benefit distribution services and Automatic Rollover IRAs and Missing Participant IRAs in the U.S. With 30 years in business, PenChecks Trust is an expert and industry-leading provider of unique and comprehensive solutions for a myriad of plan and distribution issues. Services include automated and branded solutions for benefit payments, benefit election processing, missing participant searches, Automatic Rollover and Missing Participant IRAs, Advisor Managed IRA Accounts, uncashed / stale-dated check resolution and Abandoned Plan / QTA Services. Customers include financial institutions, recordkeepers, third-party administrators, plan sponsors, advisors, and individual investors.

About LDI-MAP, LLC (dba iJoin)

iJoin is a leading retirement plan infrastructure technology partner supporting cost-efficient personalized managed account programs, built-in plan health analytics and reporting tools, financial education and wellness, access to guaranteed income products, and IRA rollovers. We're built to help financial advisors differentiate and win. Learn more at ijoinsuccess.com.

About Stadion

Established in 1993, Stadion is headquartered near Athens, Georgia. Stadion works with financial professionals, asset managers, and recordkeepers to build retirement plans and participant level technology and investment solutions. Visit Stadion Money Management at www.stadionmoney.com. Stadion Money Management, LLC("Stadion") is an investment adviser registered with the U.S. Securities and Exchange Commission. Registration does not imply a certain level of skill or training. More information about Stadion, including fees, can be found in Stadion's ADV Part 2, which is available upon request.

¹ Mesirow refers to Mesirow Financial Holdings, Inc. and its divisions, subsidiaries and affiliates.  Mesirow is not affiliated with PenChecks Trust, Stadion or iJoin.

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