Invoice Payments

Simplifying the complex. Executing with care.

Many of our clients take advantage of Salem Trust’s ability to pay invoices directly from their accounts. This service helps clients manage expenses and operate more efficiently. Clients also benefit from the added control of having Salem Trust review and pay only properly authorized expenses. Invoice payment features include:

  • Processing vendor payments via ACH or check, with a five-day turnaround time
  • Processing vendor payments individually or through warrants approved for multiple payments
  • Providing 1099-MISC forms to vendors
  • Including payment details in the plan’s statements
  • Providing the plan sponsor with online access to the trust accounting system
  • Handling special vendor payments as needed (additional charges may apply)

Salem Trust’s Value-added Services

Benefit Payments

Salem Trust has never missed an authorized and verified benefit payment to any retiree. Even while issuing more than 80,000 monthly benefits and 1,500 one-time (lump-sum) payments each year, neither hurricanes nor snowstorms have prevented us from fulfilling our trusted duty. In fact, 99.99% of monthly benefit payments are received on the first payment date of the month…

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Invoice Payments

Many of our clients take advantage of Salem Trust’s ability to pay invoices directly from their accounts. Invoice payment service helps clients manage expenses and operate more smoothly. Clients also gain the extra control of Salem Trust reviewing and paying only properly authorized expenses. Invoice payment features include...

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Global Tax Reclamation

Since approximately 70% of worldwide dividends come from non-U.S. companies, it is likely that some portion of your investment portfolio is in global investments. Did you know that the country of origin for a security is the country that levies and collects taxes on the investment income of that security? Did you know that most pension plans are entitled to file a reclamation of all, or a portion of, foreign taxes?

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Class Action Lawsuit Process

In the past few years, securities class action lawsuits have been filed at a record pace. We expect that the frequency of claims will continue or increase. Responding to our clients’ requests for a solution, Salem Trust researched and negotiated a partnership with a specialized class action services provider...

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Start-up Plan Service

We help small and start-up pension plans get off the ground with a streamlined package of services. Designed for small plans using only ETFs and mutual funds, Salem Trust’s savings will help the plan be cost-effective...

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Annual Verification Letter

In addition to reviewing databases and providing a monthly report of deceased retirees, some clients also opt for positive verification of plan participants.

Salem Trust provides a turnkey service that reduces the possibility of fraud while safeguarding the special connection between the plan sponsor and the retired service employee...

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