When we first opened our doors five years ago, October Three was simply a vision to better the retirement industry. Backed by decades of experience in the defined benefit space, we have since watched an entire company take shape. Looking over the years, I am grateful for the many opportunities that spurred our growth. We are delighted to now be moving into our new home on the Willis Tower’s 83rd floor.
Forming relationships around the world as new partners of Abelica Global has been tremendously important in not only expanding global reach, but adding valuable local insight to our service practice. Joining this community of premiere actuarial firms has allowed us to better serve our client’s international needs. We are proud to be a part of AG’s team running the Paris marathon on April 12th to benefit multiple sclerosis research.
Along with our international expansion, we are pleased to play a part in the retirement industry’s trajectory towards a reemerging defined benefit market. With the IRS passing final regulations on hybrid plans last year, exponentially more sponsors are recognizing the advantage of choosing DB plans that look and act like DC plans. Market Return Cash Balance is a powerful hybrid plan design that will be instrumental for the future development of the defined benefit industry.
The O3 Daily Platform was built with the administration of Market Return Cash Balance plans in mind. By connecting with over 1,000 asset custodians, we can effectively align plan benefits with the underlying assets. Sponsors and participants can now capitalize on the opportunities of MRCB with access to real-time plan information.
Though we are tuned into the advancement of hybrid and MRCB plan design and administration, the O3 Daily Platform provides sponsors across plan types the tools and resources they need to create their ideal administrative solution. Sponsors are encouraged to select the platform’s functions and capabilities that fit their needs. Whether 500 or 25,000 lives, the O3 Daily Platform can be modified cost effectively to fit those dimensions. Both our administration technology and services operate with the dynamic plan concerns and aspirations of our clients in mind.
As Retirement Architects, we are committed to re-defining the possibilities for retirement benefit programs. Our vision distinguishes us within the industry, and we are thrilled so many have recognized the potential and shared in these ideas with us.