Pensions

You received PBGC SFA funds, now what?

You have conducted your Death Audit based on the PBGC guidelines. You have gone through the SFA application checklist, and you finally receive an approval notice from the PBGC for your requested SFA funds. Now what? Although the PBGC does not expect SFA fund recipients to repay the awarded cash, these funds come with a catch. There are several terms and conditions that apply to awarded SFA funds. Many of these can be found [...]

John Bikus2023-12-12T10:15:46-06:00February 15th, 2023|Pensions, Webinar Recaps|

Press Release: PBI Research Services Announces CertiCensus® Certified – A New Gold Standard in Pension Plan Data Management and Compliance

MINNEAPOLIS (Jan. 11, 2023) – PBI Research Services, the leading death audit and locate service provider, today announced CertiCensus Certified, a new gold standard certification for its customers and the industry marking the most thorough verification and documentation process for pension plan participant data management. CertiCensus is the industry’s first single-source, proactive pension plan population management platform to help pension plans reduce costs, eliminate overpayments, ensure regulatory compliance and mitigate cybersecurity risk. With the [...]

John Bikus2023-06-15T10:59:36-05:00January 11th, 2023|News, Pensions, Population Management & CertiCensus|

Best Practices for Applying for Special Financial Assistance (SFA) Funds

Pension plans nationwide are taking advantage of Special Financial Assistance (SFA) funds granted to eligible recipients by the Pension Benefit Guaranty Corporation (PBGC) – a federally chartered corporation created by the Employee Retirement Income Security Act (ERISA) to encourage the continuation and maintenance of pension plans and funds. The program was created to rescue severely underfunded multiemployer pension plans who are projected to be insolvent prior to 2051, to ensure that the millions of retirees [...]

John Bikus2023-12-12T10:16:22-06:00December 16th, 2022|Pensions|

The Hard Truth on Pension Participant Data Management & How to Set Your Plan Up for Success

Pension plans have no idea how inaccurate or out-of-date their participant data is and it is costing them millions every year. Even with a robust and experienced internal team maintaining and updating participant data, it is nearly impossible to keep participant information accurate and up-to-date. Participants will be missing. There are a variety of reasons so many organizations struggle with bad data including the lack of a comprehensive data source, staffing issues, the lack [...]

John Bikus2024-05-01T14:23:03-05:00November 11th, 2022|Death Audit & CertiDeath, Pensions, Population Management & CertiCensus|

Plan Sponsor Article: Pension Plan Sponsors Can Tackle Improper Payments

“People who have worked really hard for years and years and years can’t get the money that’s owed them in retirement if you don’t accurately identify them as a lost participant...you’re paying money out to people who shouldn’t be getting those payments.” said John Bikus, President of PBI Research Services. Read the full article on Plan Sponsor at: https://www.plansponsor.com/pension-plan-sponsors-can-tackle-improper-payments/

John Bikus2023-06-15T13:52:59-05:00May 11th, 2022|News, Pensions|