Plan Administration
Upgrade Your Plan Administration
Traditional administration solutions often feature outdated tools, inadequately trained staff, and all-or-nothing service models that are not well aligned with today’s plan sponsors. We believe in simplifying your plan administration.
Why Trust October Three for Plan Administration?
We understand the type of experience that today’s participants and sponsors are looking for and we’ve designed an administration support structure that delivers just that. We’ve incorporated our decades of plan administration experience into developing an administration platform that simplifies the experience for sponsors and participants from implementation to day-to-day management.
Transparency
We believe in transparency in all we do. We ensure that all data(e.g, call logs, participant interactions, etc) is visible and available to you.
Flexibility
We provide administration for all types of plans, whether in-sourced or out-sourced.
Streamlined Processes
With everything on the same system, our Daily PlatformSM provides a high level of convenience, customization, and modern features, leading to lower costs and increased efficiencies.
Simplification
We believe that plan administration doesn’t have to be complicated. Our proven processes and automation create a simplified administration experience.
Self Service
We provide administration for all types of plans, whether in -sourced, co- sourced or out sourced.
Support
Our completely onshore team of pension experts provides personal support of the highest quality to participants and sponsors.
Simplify Your Plan Administration with October Three
The Daily Platform from October Three provides plans sponsors and participants with unprecedented 24/7 access to all plan information allowing for streamlined workflow and enhanced transparency. Some enhanced plan features include:
- Interest credits based on actual returns on trust assets
- Daily valuation of participant account
- Real-time access to plan funded status
Plan Administration Resources
Explore our resources below to better understand how our plan administration services can help streamline business operations.
Top ways your traditional administration platform could be costing you
As companies grow and pension benefit needs evolve, technology must adapt to serve any new conditions that may arise. When it comes to managing defined benefit (DB) plans, however, many administration platforms continue to operate with dated, inflexible systems. New web-based technology allows plan sponsors to choose when—and how much—to get involved, while providing immediate access to administration information with full transparency.
Blockchain and retirement plan administration
Blockchain technology is currently being developed as a way to fundamentally transform our systems for, e.g., authenticating securities transactions and tracking securities ownership. In this article we review the possible impact of blockchain technology on retirement plan administration.
DOL proposes “voluntary” Retirement Savings Lost and Found information collection rules
The simple way to think about this proposal is as a new set of plan reporting obligations of data that will be used to populate the retirement savings lost and found (RSLF), described by DOL as an “online searchable database to reunite workers with retirement benefits earned over their working lives and to help the Department assist them in that effort.”
Contact Jeff Cutts
Have additional questions? Contact us today to learn how our solutions can support your needs.