Tracking Payments to Retired Participants.

[Guest]

Does anyone have a good method for tracking the death of retired particiants receiving annuity or periodic payments? For instance, if the spouse of a former participant receiving a 50% survivor annuity doesn't notify the payor, either through neglect or design, the higher benefit could be paid for some time. Thanks.

[Guest [Pat M]]

Thornton, the Trustee should be sending out and performing an annual or semi-annual "Are You Alive" update.

Check with the Trust Services Dept. of a few banks. They can quickly give you the details. They often list "Periodic death and address audits " as part of their services for periodic payments processing.

see:

www.mellon.com http://www.mellon.com/inst/trust/benefits_dis/periodic.html