Global Shares and Pen-Cal marry technology and flexibility in a state-of-the-art employee benefits solution.
Global Shares has announced its new partnership with executive and employee benefits consulting firm, Pen-Cal. This new partnership will offer clients a state-of-the-art solution to manage both their executive and employee benefits and deferred compensation plans, using an integrated cutting-edge software solution and easy single-sign-on access.
Employee stock plans and deferred compensation are valuable components to a company’s overall executive benefits package, helping to retain and reward top employees and executives and are a very effective way to accumulate wealth and save for retirement. To make benefit plans more attractive, employers often add varying levels of customization, which can lead to a host of legal requirements and administrative complexities. In addition, there are often multiple vendors, website portals and user names and passwords involved.
The partnership between Global Shares and Pen-Cal will alleviate the complexities faced by administrators by bringing together two specialist employee benefits firms, enhancing their mutual offerings, and giving clients a range of benefits, including:
- Integrated products and plans on one single platform
- Easy Single-Sign-On access
- A user-friendly and fully-branded employee portal
- Highly customisable to each client’s unique needs
- Delivered with the highest levels of service and expertise
- Administrator expertise for both Global Shares and Pen-Cal platforms
The platform is designed to accommodate private and public companies of all sizes and corporate structures, to access the same products and services that would normally only be available to large public companies. The partnership between Global Shares and Pen-Cal ensures that clients have the flexibility and the technology they need to ensure their plans match their company’s overall benefits goals and philosophies.
Tim Houstoun, CEO of Global Shares said: “We are delighted to team up with Pen-Cal to use our cutting-edge technology to simplify the increasingly complex needs of the employee and executive plan management. Our software solution can support any plan type, multiple rules and legacy requirements and allows us to tailor our portal to the individual branding of each client, offering a personalized and very user-friendly experience. Our skilled team of equity professionals look forward to working with the Pen-Cal team of experts to make this partnership a great success.”
Kirk Penland, CEO Pen-Cal said: “We are excited about our alliance with Global Shares as we bring together our collective technology to create Total Benefits Outsourcing (TBO) for executive compensation. These two elements deliver the core of executive benefits on one integrated platform for participants and plan sponsors. Our high-end, specialized benefit consulting firm has the experience and resources to customize every plan and this partnership with Global Shares ensures we will future proof our ability to offer industry-leading recordkeeping and administrative technology to our clients.”
Pen-Cal and Global Shares will start engaging with prospects and clients immediately, to begin taking plans to live during the third quarter of 2017.