Unions are built on trust and a shared goal, a healthy workplace, and a secure retirement. Managing a multiemployer pension plan brings layers of complexity. With thousands of active and retired participants, employers, and dependents to track, maintaining accurate data can quickly become a challenge.
That’s where ABL Tech comes in as the leading provider for innovative solutions in pension risk management. Our experts identify mortality events that occur in the U.S. and deliver this data with 99% accuracy every day. Additional services include world-class location and beneficiary research at an average cost 25% lower than other providers.
Addressing Union Pension Challenges
Union pension administrators face complex data realities, participants move, change names, retire, and pass away, all while managing systems built decades apart. EPIC for America’s article, “How to Fix Broken Union Pensions,” highlights that multi-employer plans are increasingly strained by underfunding, high retiree-to-active ratios, and growing risks to promised benefits (*). These challenges demand not just administrative diligence, but forward-looking technological innovation.
Modern technology can play a decisive role in strengthening union pension systems. By automating participant verification, modernizing outdated databases, and reducing administrative inefficiencies, funds can improve accuracy, compliance, and financial stability.
Delivering Peace of Mind Through Data Integrity
ABL Tech’s advanced technology bridges these gaps through MVerify® and LifeVerify, administrators gain direct access to automated verification tools built for accuracy, speed, and scale. Our systems draw from thousands of data sources, public records, obituaries, proprietary databases, and AI-driven algorithms to deliver real-time insights into member status.
By combining data science, automation, and a people-first approach, ABL Tech ensures every record is verified, every benefit is accurate, and every retiree receives what they’ve earned.
In the end, technology isn’t just about efficiency, it’s about protecting promises made to the people who’ve built our workplaces and communities. Request a demo today.
· EPIC for America. “How to Fix Broken Union Pensions.” EPIC for America, 2024. epicforamerica.org