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Pentegra
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Cash Balance/ Defined Benefit Plan Administrator Steidle Pension Solutions, LLC
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MAP Retirement
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BPAS
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Retirement Plan Consultants
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Retirement Plan Administration Consultant Blue Ridge Associates
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Managing Director - Operations, Benefits Daybright Financial
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Southern Pension Services
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BPAS
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Regional Vice President, Sales MAP Retirement USA LLC
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Retirement Relationship Manager MAP Retirement
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ESOP Administration Consultant Blue Ridge Associates
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BPAS
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Relationship Manager for Defined Benefit/Cash Balance Plans Daybright Financial
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Anchor 3(16) Fiduciary Solutions
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July Business Services
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Free Newsletters
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
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Search the News Archive
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7 Matching News Items |
| 1. |
The Berwyn Group
Apr. 22, 2025
"The Social Security Administration's (SSA) Limited Access Death Master File (DMF) has undergone significant changes over the past month.... Once a reliable source, the DMF now reflects only 16% of actual decedents ... [T]he SSA has proposed renaming the DMF the 'Ineligible Master File,' signaling a broader evolution in its purpose."
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| 2. |
The Berwyn Group
June 11, 2025
"In early April 2025, the [death master file (DMF)] saw an abnormal spike in newly added records.... These records stood out not only for their volume, but also for the lack of typical verification elements ... Fast forward to the most recent DMF release, and the pattern has reversed.... The continued presence of some records raises questions about the SSA's data management process and whether the rollback is complete or still underway."
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| 3. |
The Berwyn Group
Mar. 27, 2025
"Participants who turned 73 in 2024 must begin taking RMDs from their employer-sponsored retirement plans by April 1, 2025, unless they are still working, and their plan allows them to defer. Missing this deadline can be costly ... Plan administrators play a crucial role in promoting compliance and protecting participants from these penalties."
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| 4. |
The Berwyn Group
Dec. 18, 2024
"The SSA Death Master File used to be the source of truth, but due to legislative changes, now provides only approximately 16% of decedents with the downward trend likely to continue ... Today, instead of a single source of truth to identify decedents, performing mortality verifications requires a lot of effort as obituaries account for around 67% of identified deaths. This requires using thousands of data sources ... Missing or having typos in an individual's data could lead to a high percentage of missed deaths."
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| 5. |
The Berwyn Group
Oct. 10, 2024
"Additional independent data sources are used -- not just the typical credit reporting agencies, commercial databases and internet searches.... Understand what data points specifically the locator service is updating.... Upon project completion, you are given detailed reporting. Not just a file.... The service aligns with many of the DOL's best practices for finding missing participants.... The service provider makes it easy and has cybersecurity measures in place."
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| 6. |
The Berwyn Group
Mar. 6, 2024
"In 2023, the [Social Security Death Master File] only provided 16% of death records.... Death audits now require the aggregation of thousands of data sources, primarily obituaries.... This makes utilizing multiple pieces of personal identifiable information (PII) to identify participants necessary -- such as first/middle/last name, SSN, date of birth, city and state."
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| 7. |
Pensions & Investments
June 22, 2023
"CalPERS experienced a third-party cybersecurity breach affecting the personal information of 769,000 retirees ... The breach involved PBI Research Services/Berwyn Group, an organization that assists the $456.6 billion California Public Employees' Retirement System, Sacramento, with confirming members' deaths to ensure proper payment and guard against overpayment[.]"
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