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The foundation of October Three traces back to developments in the 1990s, when changes in tax laws affecting defined benefit (DB) plans prompted Jeff Stevenson, now CEO of October Three, to explore new approaches to plan design. His concept was to adapt DB plans to function similarly to defined contribution (DC) plans.
This led to a collaboration with Chicago Consulting Actuaries (CCA), resulting in the formation of a practice focused on this revised DB structure. The practice later became the CCA Small Business Group. In 2006, the group was acquired by J.P. Morgan Chase.
After a transition period with the acquiring firm, Stevenson left and, in 2009, established October Three with a focus on retirement solutions suited to evolving market and regulatory conditions. The company launched on October 3, 2009, the day Stevenson’s non-compete expired with his prior firm. The new company began small and expanded to approximately 40 employees in one year.
One of the firm’s early areas of focus was market-based cash balance plans, which became viable following the Pension Protection Act of 2008. These plans were positioned as an option for business owners seeking more efficient retirement savings strategies and became a foundation of October Three’s services.
October Three’s growth was driven by a combination of plan design expertise, technical proficiency, and client service. To broaden its offerings, the firm developed in-house technology and recordkeeping tools, leading to the launch of its proprietary Daily Platform to support administration and actuarial practices.
In 2015, the firm established a Defined Benefit Administration team to improve plan data management and reporting. The team expanded from 10 to 50 members and began serving larger clients, including Energizer, Kodak, and Hunter Douglas.
Around its 10th anniversary, the firm introduced O3 Edge, a new platform built from a complex spreadsheet created by team member Jason Melbye to provide deeper insights into plan performance for clients and advisors.
The firm also chose to expand through the strategic acquisition of:
RLC: Provided technical depth and advisor-friendly tools.
The Retirement Advantage (TRA): Added scale and talent to the private market team
Westport: Expanded October Three’s capabilities in the bank-owned life insurance space
These acquisitions supported October Three’s service diversification and market reach.
With legislative support from SECURE 2.0 and continued interest in retirement innovation, October Three launched PRIME (Personalized Retirement Income for Me), which is positioned as a future-oriented retirement income solution. From 2022 to 2024, the firm reported:
A 121% increase in revenue
A 68% increase in staff
A 178% growth in its portfolio of defined benefit and cash balance plans
October Three was also included in the 2025 Inc. 5000 list of fastest-growing private companies in the U.S.
October Three continues to develop retirement plan solutions with an emphasis on technology, plan design, and income sustainability, aiming to address both employer objectives and employee retirement readiness.