The O3 Admin Philosophy
A Changing Landscape

Defined Benefit Administration

There is no question that retirement programs are evolving. Traditional defined benefit programs are regularly being frozen or terminated, replaced by enhanced defined contribution programs or, more recently, by market-based cash balance plans.

Unfortunately, most defined benefit administration solutions are not evolving. They offer outdated tools, inadequately trained staff and all-or-nothing service models that are not well-aligned with the needs of today’s plan sponsors.

We have designed our tools, and trained our people, specifically to address this changing landscape.

The Right Tools for the job

Most DB administration solutions rely on systems that were developed with complicated traditional formulas in mind. These systems are ill suited and overly costly for plans that are frozen or have converted to fresher designs. For plans that have adopted newer features, such as market-based cash balance plans, these systems may not work at all.

Our Daily PlatformSM is designed specifically for today’s defined benefit plans. Its proprietary engine links with more than 1,000 asset custodians, allowing for innovative plan features, including:

    • Interest credits based on actual return on trust assets
    • Daily valuation of participant accounts
    • Real-time access to plan funded status

You get (only) what you need

We know that traditional defined benefit programs can be complicated. As a result, the service models developed over the years by most administrators are complicated as well. From elaborate call centers to lengthy participant communications, solutions are geared toward the most difficult cases.

We have a different approach. Using our advanced technology, our core service offering delivers powerful administration support at a very competitive price. With concise communications, participant and sponsor self-service and online support, we focus on the type of experience that today’s participants and sponsors are looking for.

Of course, we also offer full service models, including participant call center, for sponsors that would prefer that level of service. We don’t believe that one size fits all.

Relevant Expertise

October Three is a young actuarial and administration firm with a long legacy for innovation and quality consulting. We are huge believers that life still exists in the DB market...but under a Redefined DB environment (ReDB®). Our consulting group has implemented dozens of new cash balance plans, and pioneered the use of market-based interest credits as a means to control volatility.

This drives our philosophy toward DB administration. While our deep team of professionals has decades of experience working with all types of DB plans and administration systems, we are at our core cash balance specialists. We are committed to providing unparalleled value and expertise in this space.

Learn more about how our Admin Solution can help your company

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