Pension Benefit Information
  • How do you know when a participant is deceased?

    • Run a Death Audit
  • How can I more accurately identify more deaths faster?

    • Hire PBI
  • What if I’m missing SSNs?

    • PBI can still identify deaths with Name & DOB, and we offer SSN Retrieval services.

Processing a death audit encompasses considerably more than just identifying fraud. This process allows you to maintain accurate records, meet regulatory requirements, accurately calculate liabilities and ensure your organization is acting in the best interest of participants and/or beneficiaries.

Why Process Death Audits with PBI?

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  •   Proven Expertise, over 30 years
  •   Updated Weekly with SSA DMF & States
  •   Identify Deaths…. When no death record exists
  •   Soft Search, Fuzzy Logic
  •   Intuitive Web-Based Application
  •   PBI delivers Actionable Data
  •   Most Comprehensive Death Database Available, Guaranteed!
  •   More Processing Options than any other vendor
  •   24/7 Access, create customized reports
  •   Proof of all efforts taken to locate beneficiaries
  •   Integrated Research Center Saves Time & Money

              Platinum Web-Based Processing           

Platinum Web-Based Death Audit Service

PBI’s Platinum Web-Based Death Audit Service provides the ultimate in flexibility while integrating access to participant address history, relatives and obituary records. Now using a single log-in you can verify and disposition your records in real-time, saving time and money. No other supplier combines best-in-class data (information) into a single application to efficiently validate and disposition death records. Let PBI streamline your work-flow, save your company time and money, and provide peace of mind your plan is acting in the best interest of participants.

WEB-BASED CONTINUOUS MONITORING PROCESS

PBI provides actionable data

Platinum Web-Based Death Audit Service:

  • Eliminate overpayments
    • Never issue them in the first place
  • Fulfill fiduciary responsibilities
    • Ensure compliance under Title I of ERISA
  • Locate missing participants and beneficiaries instantly
  • Streamline internal workflow; save time and money
  • Reduce your plans funding liability
  • Avoid IRS fines by identifying and correcting invalid SSNs

Obtain Better Results Through Continuous Monitoring

Platinum PLUS Web-Based Processing with ObitPro™

PBI’s NEW PLATINUM PLUS SOLUTION PROVIDES THE ABILITY TO IDENTIFY DEATHS WHEN NO DEATH RECORD EXISTS!

What’s the PLUS? It’s the ability to identify deaths not reported in the SSA DMF or other state vital record sources. Our NEW revolutionary service was created to identify potential deaths through a proactive obituary sweep. However, obituaries as a standalone service are not enough. PBI has integrated the ObitPro™ database into our web-based death audit platform AND our proprietary Research Center to validate if a potential obituary is in fact your participant. This entire process is performed in seconds with no data entry required!

THE PROBLEM:

The SSA DMF is missing records, which has resulted in pension fraud (payments made to those not entitled) and limited the ability of insurance companies to identify decedent’s to reunite beneficiaries with insurance proceeds.

WHY?

On 11/1/11 the SSA stopped including state protected death records into the Public SSA Death Master File (DMF). SSA re-interpreted Section 205r of the Social Security Act and determined it could no longer disclose state death records unless they were independently reported to the SSA.

WHAT’S THE IMPACT?

4.2 million records were removed from the Public DMF in November of 2011. 920,00 fewer death records are being added per year This represents a 40% decrease in deaths reported per year from the SSA

 

PBI recognized the unintended consequences of the reduction in records. We have also worked tirelessly to get it restored. However, as the presidential election, fiscal cliff and gun control took center stage on Capitol Hill, we knew something needed to be done and there was no “quick fix”.

PBI developed a solution to Identify deaths even when no death record exists!

As the Industry Leader in Death Audit Processing; PBI was resolute in our mission to develop a solution for our clients while our efforts continued to get the DMF restored.

                  Standard Death Audits                     

Standard Death Audit

For decades thousands of clients have utilized PBI’s standard death audit service. Some prefer the convenience of having PBI generate and deliver static reports to them via; PDF, Excel and CSV format. PBI is pleased to continue supporting clients with standard death audits if that’s their preference. Clients have an array of flexible Standard Death Audit report options which include; annual, quarterly, monthly or weekly reporting. Files are easily uploaded to PBI using our Secure File Transfer (SFT) site and clients receive instant email confirmation of receipt. PBI will generate reports based upon your desired frequency. An e-mail notification is sent as soon as a report is available, and reports will remain available on the SFT file for up to 90 days, for the convenience of our clients to view.

 

STANDARD DEATH AUDIT – STATIC REPORT PROCESS

Standard Death Audits

  • User –Friendly reports
  • Ideal for “one-off” projects, least expensive
  • Meet fiduciary & regulatory requirements
  • Reduce risk of over-payments & fraud
  • Identify decedents to reunite beneficiaries
  • Ensure payments are stopped upon death for COLI, BOLI and NQDC plans
  • Meet NY Reg 200 and Verus settlement requirements
  • Identify and correct Invalid SSNs –> Proper record keeping to avoid fines

 

Death Audit Subscription

PBI offers clients a variety of cost-effective subscription options through our standard death audit platform. Clients who take advantage of subscriptions receive a discounted rate and experience a reduction in overhead for file creation while still minimizing their risk of overpayments.

 

SUBSCRIPTION DEATH AUDIT PROCESS

Subscription Options

  • Cost Effective way to minimize over-payments
  • Utilizes the same file
  • Limits IT overhead of file creation

Contact

711 Grand Avenue, Suite 210
San Rafael, CA 94901

Phone: 415.482.9611
Email: inquiry@pbinfo.com

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