Beneficiaries & BeneSearch

PBI finds missing beneficiaries with life changing benefits.

For over 40 years, PBI has been working with pensions across the nation to identify decedents. Not only does quick decedent identification eliminate overpayments, minimize fraud, and preserve the longevity of the plan, but it also satisfies the fiduciary duty to participants and beneficiaries. PBI can help ensure you’re doing what’s best for the participant/beneficiary and build trust with your participant population. PBI’s ability to find the hard to find can be life changing, especially [...]

2023-06-15T15:58:43-05:00June 15th, 2023|Beneficiaries & BeneSearch, Case Studies|
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Locating Beneficiaries of Deceased Participants

Maintaining updated Plan Participant Records to ensure Fiduciary Compliance Recent guidance issued by the U.S. Department of Labor (DOL) addresses fiduciary and enforcement issues related to missing and non-responsive retirement plan participants. A key best practices category highlighted by the DOL is maintaining accurate census information for the plan’s participant population including spousal and beneficiary information. What happens if a participant is deceased and census records – in particular, spouse/beneficiary information – are incomplete [...]

2024-04-26T14:45:51-05:00January 26th, 2021|Beneficiaries & BeneSearch, Locating Missing Participants, Pensions|
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The Art of Locating Participants and Beneficiaries

The difference between comprehensive Locate services and simple data updates. Pension plan professionals – plan sponsors, trustees, administrators, etc. – have a fiduciary responsibility, actually a requirement, to conduct diligent searches for participants and beneficiaries.  There are various methods to doing this.  Knowing the difference will not only help ensure you are meeting your fiduciary obligations; but, will also best prepare you for any possible regulatory reviews or audits (DOL/IRS). The most inexpensive and [...]

2023-06-16T11:12:20-05:00December 2nd, 2020|Beneficiaries & BeneSearch, Locating Missing Participants, Pensions|
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