Pension Benefit Information, LLC (PBI) is a company that provides audit, address research, and data verification services primarily for insurance companies, pension funds, unions, and other organizations involved in pension and retirement benefits. Their role includes locating individuals who may be entitled to pension or retirement benefits, verifying beneficiary information, updating contact details of plan participants, and helping clients comply with regulatory requirements to maintain accurate records and prevent overpayments
. PBI handles sensitive personal information such as names, addresses, dates of birth, and Social Security numbers to perform these services. They work as a third-party vendor for insurance agencies, financial institutions, and pension plan administrators, assisting with processes like death claims and beneficiary verification
. The company has been involved in a significant data breach in 2023, where hackers exploited a vulnerability in the MOVEit Transfer software used by PBI, exposing the personal data of over 1.2 million individuals. This breach included sensitive identifiers and prompted notifications and credit monitoring offers to affected individuals
. While PBI is a legitimate and established company in this niche (in business since 1981), it has faced customer complaints and has not been accredited by the Better Business Bureau
. In summary, Pension Benefit Information, LLC is a specialized service provider that helps pension and insurance-related organizations manage and verify beneficiary data and locate individuals entitled to benefits, though it has recently been impacted by a major cybersecurity incident
