Corporate profile & history: Founded in south Florida in 1989, Pension Services Inc. was created to design, implement, and administer customized qualified retirement plans for client companies of varying size.
Since that time, PSI has grown to represent 1000 clients on the U.S. mainland and in Puerto Rico, and expanded its offerings to audit support, testing, and related offerings.
Where: PSI has two offices, in Miami and Orlando. Our clients are located across the United States and in Puerto Rico.
Who: PSI was founded by a team of savvy professionals who noticed a gap in retirement-planning services. PSI’s ‘A team’ of accountants, attorneys, actuaries, and administrators hold a collective century (100 years) of experience in the pension, legal and actuary professions.
Our staff includes:
Robert Penafiel: president of Pension Services Inc., has more than 30 years’ experience in 401(k) plans, profit sharing, defined benefit, and aggregate combination plans.
Jason Cao: member of the American Society of Pension Actuaries with more than 10 years’ experience in administering pension plans for small- to medium-sized defined benefit plans, who specializes in designing plans for professionals and small, closely-held businesses.
What: PSI provides a wide range of services including plan design, plan installation, third‐party administration, actuarial services, and compliance testing. Other auxilliary services are available, depending on the client’s needs.
Moving beyond typical third-party plan administration, PSI provides a range of services unmatched by many actuarial firms. Clients range from self‐employed individuals to companies with more than 1000 employees.
How: PSI’s modus operandi is to conduct an assessment of a client’s profile and needs before attempting to design a qualified retirement plan for that client. At PSI, we don’t offer off-the-shelf plans because we firmly believe there is no one plan that suits every corporation. Just as every company is unique, so too is every custom qualified retirement plan.
Why: Since our founding, management at PSI has been concerned with the quality rather than the quantity of its work. ‘Performing to a higher standard’ is our motto, the daily standard by which we judge our results. Our success is measured by the success of our clients– whether they’ve achieved with their retirement plan what they had aspired to do; whether the plan works as described to achieve the stated objectives.
If the client believes that their retirement program is successful and meets their objectives, that is success enough for us.