Retirement Plan Death Audits

Outdated participant records can cost retirement plans millions in overpayments. LifeStatus360’s retirement plan death audits provide daily, accurate updates to verify participant status and prevent fraud. Stay compliant, reduce risk, and protect plan assets with trusted death audit services for the retirement industry.

Retirement systems face a high risk of fraud due to data compliance failures, unreported deaths, and Social Security-related identity theft. These challenges can lead to overpayments, regulatory issues, and fund mismanagement. Accurate retirement death audits and secure participant verification are essential for preventing fraud and ensuring responsible fund disbursement.

LifeStatus360’s advanced death audit services give retirement systems and trusts the tools to reduce risk and improve compliance. Powered by our proprietary SaaS death audit platform, we deliver fast, reliable data updates — setting a new industry standard for both life audit and retirement plan death audit reporting.

While there is no “one-size-fits-all” approach for administrators and plan sponsors, our team at LifeStatus360 understands that participant data needs to be analyzed regularly and scrubbed for errors and outdated information. 

We use a variety of tools within our Life Audit and Death Audit Solutions, including:

• LifeStatus Proprietary: our commercial group of sources
• Obit360: our advanced obituary matching system
• Social Security Administration Death Master File (SSADMF)
• State Vital Records agency data
• Quality Data Analysis

We can use any information, such as Name, DOB, SSN or last known address, to help you locate your retirement and pension plan participants. During our process, we’ll analyze the death audit data to establish the mortality of your participants before using our advanced system to locate any of your missing participants and help you clean up your data records.

LifeStatus360’s retirement death audit services help plan administrators identify deceased participants before payments are made, protecting assets and maintaining compliance. 

Our system cross-references multiple data sources, including obituary records and Social Security data, to deliver unmatched accuracy. By automating retirement plan death audits, we reduce manual errors, prevent overpayments, and streamline fiduciary oversight. 

At LifeStatus360, we know that securing our systems and protecting the integrity of our customers’ data is a top priority, especially in the healthcare field with HIPAA requirements and electronic medical records. 

We share the goals of safeguarding data against external risks, and understand the essential fiduciary and regulatory requirements tasked to the retirement industry.

Using our advanced technology, proprietary SaaS platform, and vast collection of reliable data sources, our solutions offer the fastest results in the industry to aid in our customers’ fraud prevention objectives.