PenChecks Names Chief Compliance Officer

PenChecks, Inc., a provider of outsourced retirement distribution processing services, hired Mike McWherter as the firm’s chief compliance officer.

McWherter comes to PenChecks with more than 20 years of combined corporate law and Employee Retirement Income Security Act (ERISA) plan compliance experience. He will oversee all compliance issues, supervise regulatory audits and coordinate between outside corporate counsel and ERISA counsel. 

McWherter previously served as vice president and chief compliance officer at the Memphis, Tennessee-based First Mercantile Trust Company where he designed, implemented and guided company-wide compliance programs for qualified ERISA plans. 

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