PENADMIN
Financial Administration of Employee Pension Plans
Third Party Administration (TPA) · Canada & United States
PENADMIN provides financial administration of employee pension plans to defined benefit (DB) plan sponsors and members in Canada and the United States. We deliver financial services, namely fee-for-service third party pension administration and actuarial services — as a full outsourced third party administrator, in support of your in-house team, or in a hybrid model matched to your resources.
Peer review of all work completed in our office is an integral part of our service. We take pride in the quality and timeliness of everything we deliver under pension legislation, in every jurisdiction we serve.
Administration services
Data onboarding, audit & purification
- Conversion of member data from legacy systems and prior administrators
- Audit and purification of historical records before go-live
- Reconstruction of service and earnings histories for accurate benefit entitlements
Ongoing member administration
- Enrolment and membership record maintenance
- Data updates and life-event processing
- Benefit calculations: termination, retirement, death, and marriage breakdown
- Option forms on termination of employment and retirement
- Payment processing and pensioner increases
Year-end reporting & member statements
- Year-end data collection and processing
- Annual member benefit statements and disclosures
- Management reporting and valuation data extracts for your actuary
- Timely reminders of upcoming compliance events
Sponsor support
- Plan amendment history and governance documentation
- "What if" scenario modelling
- Full settlement of transfer values
Regulatory filings we support
Canada
- Annual Information Returns (AIR)
- Pension Adjustments (PA), Past Service Pension Adjustments (PSPA), and Pension Adjustment Reversals (PAR)
- Form 7 — Summary of Contributions (Ontario)
- Provincial and federal (OSFI) filing requirements
United States
- Form 5500 annual report preparation support
- PBGC premium filing support for covered DB plans
- ERISA-required participant disclosures, including annual funding notices
- Administration support for qualified and nonqualified DB arrangements
Cross-border plans
Employers with workforces on both sides of the Canada–US border face two regulatory regimes, two data standards, and one membership expecting consistent service. PENADMIN administers plans in both jurisdictions from a single platform — one member database, one audit trail, and filings prepared for the correct regulator on each side of the border.
Engagement example — US plan sponsor
For a US plan sponsor with a frozen defined benefit plan covering approximately [CONFIRM: member count] participants, PenAdmin performs ongoing financial administration of the employee pension plan: maintaining participant records, calculating benefit entitlements at termination and retirement, preparing annual participant statements, and supplying the plan's actuary and auditor with reconciled year-end data for Form 5500 reporting. [CONFIRM: all facts, or replace with an actual engagement description.]
Discuss your plan with us
Whether your defined benefit plan is registered in a Canadian jurisdiction, governed by ERISA in the United States, or both — contact us to discuss how PENADMIN can administer it.
Contact us about your Canadian or US plan