May 24, 2017
Zombies seem to be everywhere, especially in our media, but it seems that mass media isn’t the only place zombies are showing up. In a recent article by Mike Causey writes:
“Paying people who are no longer alive is a huge problem. The government — that would be your fellow taxpayer — paid out an estimated $144 billion in fiscal 2016 to people who were no longer eligible, or were dead. Or both. The numbers came from the Government Accountability Office. “
Mr. Causey was instructed to not respond to a letter from his union if he was dead. This is an outdated method for verifying participants’ mortality. If that’s how that particular union handles whether or not someone continues to receive their union pension or federal retirement payments, it’s no wonder that the United States is losing billions every year!
How Death Audit Services Can Aid the Federal Government w/ Overpayments
Another recent report suggests that the Social Security Administration and the federal government may open access to the SSA DMF (Social Security Administration Death Master File), which does aid some funds in determining the mortality status of plan participants. However, the DMF can only provide so much information, often leaving many pension and retirement funds lacking. That’s where our death audit services come in!
At LifeStatus360, we use several data sources to fill in the gaps of the SSA DMF and to provide our customers with complete death audit solutions, including:
- LifeStatus Proprietary – our proprietary group of commercial sources
- Obit360 – our obituary matching tool
These two sources, coupled with the SSA DMF, allow us to provide reliable death audit data to our customers, ensuring that your fiduciary requirements are met.
LifeStatus360 Provides Fast, Reliable Death Audit Services
Many of our customers are in industries that require accurate death audit data, such as retirement, pension funds, and unions. However, those aren’t the only industries that our solutions service. As we’ve seen, the government continues to lose money by paying zombies – why are zombies now allowed to collect paychecks? This is one of the questions we should be asking our representatives, especially when it affects the amount of money we’re paying in taxes.
While our government continues to give so many people the runaround – even threatens to shut down due to budget disagreements – you know there has to be a better solution. That solution for many programs is LifeStatus360 because we provide the data to verify the mortality of the US population faster than our competitors. Contact us via telephone at 888-LIFE-360, online or schedule a free webinar when it’s convenient for you to learn how we can provide the solutions every fiduciary needs.