Death Audit Services

Ensure your participant information is up-to-date and accurate

Death audits are a crucial component of pension plan management. Done correctly, they help businesses ensure the accuracy of plan participant information and prevent invalid and fraudulent claims.

October Three is your expert partner in the death audit process, from cost control to legal compliance to participant communication. Performing an audit doesn’t look the same for every business, so we customize our services to meet your company’s needs.

Our services

By leveraging our death audit expertise, your company can enhance its operational efficiency, protect its finances and uphold its commitment to accuracy and accountability.

Participant and beneficiary accuracy

By conducting a review of your pension plan’s participants and their beneficiaries, we can update records and remove deceased individuals from the active participant list, ensuring accurate distribution.

Cost control

We’ll promptly identify and process death claims to reduce financial loss and maintain pension plan sustainability.

Regulatory compliance

By identifying plan beneficiaries, confirming eligibility and following proper distribution procedures, we’ll ensure that your company’s pension plan meets all applicable laws and regulations.

Risk management

Being proactive and identifying pension plan risk protects your financial resources, safeguards your plan’s reputation and instills confidence in participants that their funds are managed securely and responsibly.

Participant communication

Transparency and trust are essential when it comes to participant communication. We’ll ensure that they receive accurate, thoughtful and timely information per their status in your plan.

Plan funding and financial stability

Death claims can impact plan liability. We’ll assess the financial impact of mortality on your plan and provide recommendations for funding and investment adjustments to ensure the plan’s long-term sustainability.

How It Works

Phase 1: Collect data & complete death audit

light bulb This first phase focuses on gathering the data to complete an accurate death audit. Once complete this initial audit, we can then evaluate results and related evidence to update plan data.

Phase 2: Stop retiree payments

light bulb Now, we can eliminate any faults in the plan data and remove ineligible participants. We will then assess overpayments, recall ACH transactions and stop any uncashed checks.

Phase 3: Send letters

light bulb In this phase, we contact beneficiaries and estates to communicate survivor benefits and summarize overpayments.

Phase 4: Benefit processing

light bulb In this optional phase, we calculate survivor benefits, offset overpayments, create benefit commencement kids and complete election processing. We only complete this phase if it is relevant to your specific needs.

Phase 5: Audit report

light bulb With all of this information, we can now create a detailed death audit report which will calculate plan savings and document administrative efforts.

Phase 6: Ongoing support

light bulb Our job doesn’t stop here – we offer continuous support even after the death audit is complete.

How much does a death audit cost?

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Death audit FAQs

What is the purpose of conducting a death audit for my company's pension plan participants?


How often should my company perform a death audit?


What does the process entail?


What are the potential risks associated with inaccurate participant information in a pension plan?


How would the process benefit my company's pension plan administration?


What happens when a deceased participant is identified?


Can you track down beneficiaries of deceased participants?


How can a death audit help our compliance efforts?


Is a retroactive death audit possible?


Is it cost-effective?


Contact Monica

Implementing a comprehensive lump-sum window payout is a time-intensive and sensitive process. Our expert actuaries help you achieve your goals with maximum efficiency while eliminating volatility concerns. Reach out to schedule a meeting about a lump-sum window solution tailored to your business and employees.

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