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A large healthcare employer overseeing a defined benefit plan active for over 50 years and covering 16,000 participants, including active employees, retirees, and terminated vested members, faced significant challenges with fragmented and inconsistent plan data.
Multiple legacy systems housed participant information, resulting in inconsistent updates, formatting issues, and integrity risks that led to miscalculations affecting service records, compensation, and eligibility.
The employer needed a solution to consolidate participant data securely, streamline reporting, and ensure audit readiness.
October Three’s approach consisted of four main parts:
Data Mapping: Identified and mapped all data sources to understand the employer’s overlaps and conflicts.
Data cleanup: Employer received consolidated, normalized, and validated participant data, resolving discrepancies and establishing clear hierarchy rules.
Benefit accuracy: Employer gained calculated and validated accrued and projected benefits, correcting logic gaps.
Governance: Employer was able to perform ongoing maintenance, with audit trails and version-controlled change tracking.
The successful project eliminated redundant data silos, improved calculation accuracy, automated benefit statements, and delivered a fully documented, audit-ready data structure. The employer also reduced administrative burden and increased data security. Based on the positive experience and success of the project, the employer decided to move its ongoing plan administration services to October Three.
From implementation to day-to-day management, October Three’s administration platform helps simplify the admin experience for plan sponsors and participants. Schedule