MINNEAPOLIS, April 20, 2022 — PBI Research Services, the leading death audit and locate service provider, today announced expanded capabilities of CertiCensus, the industry’s first single-source proactive pension plan population management solution to help pension plans reduce costs, eliminate overpayments, ensure regulatory compliance and mitigate cybersecurity risk.
The platform’s capabilities now include new, automated reporting and dynamic updates to participant data, offering increased visibility for plan sponsors for more accurate and efficient participant management. This product release offers clients an unprecedented level of insight and data accuracy. It changes the way pensions manage their participant pool – removing the significant burden and time allocation pensions experience today.
CertiCensus offers continuous participant monitoring for up-to-date census data, comprehensive reporting and a full audit trail. This complete population management solution includes: identifying decedents with 95% accuracy compared to industry averages of 70%, locating missing participants and/or beneficiaries, updating Personally Identifiable Information (PII), and sending required participant communications and managing all returned mail.
“This time of year is critical for plan sponsors as annual funding notices not only require a lot of administrative work, but shed light on the inaccuracy of plan participant data that ultimately leads to expensive overpayments and complex participant and beneficiary location efforts,” said John Bikus, president of PBI Research Services. “With CertiCensus, our customers have an end-to-end solution that’s helping plan sponsors better steward their resources to extend the life of their plan while offering much-needed efficiencies. And the expanded capabilities provide an additional level of benefit.”
Today, without a single source of data, pension plans often turn to a variety of service providers or internal processes, using disparate data sources and information to manage their pension participant pool. These efforts can be costly, time-consuming, result in missing participants/beneficiaries and unidentified decedents, result in increased cybersecurity threats, and often fall short of DOL compliance.
To learn more or to estimate potential savings with PBI’s overpayment calculator, visit www.pbinfo.com.
About PBI Research Services
PBI Research Services is the leading provider of proactive pension plan management including death audit, locate services, and uncashed check management. With the largest team of experts in the industry, PBI delivers exceptional data accuracy using artificial intelligence, 26,000 integrated databases, proprietary processes, 40 years of best practices and human expertise. PBI has helped thousands of customers including some of the largest pension plans, insurance companies, third-party administrators, and financial institutions save over $200 million in overpayments, minimize fraud, meet compliance regulations, and locate participants and beneficiaries. Learn more at www.pbinfo.com.
