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New solution assists with plan administration and investment
selection and monitoring
BOSTON, Nov. 11, 2021 /PRNewswire/ - John Hancock
Retirement, a company of Manulife Investment Management, today
introduces Signature Fiduciary Connect. Signature Fiduciary Connect
is a comprehensive new service model giving plan sponsors
additional support for the administrative and fiduciary duties
needed to offer workplace 401(k) plans. With Signature Fiduciary
Connect, employers can efficiently outsource plan administration
and fiduciary risk through John
Hancock's partnership between select third-party
administrators and 3(38) providers. Employers benefit from this
optimized service model while their employees benefit from a
powerful retirement plan that includes John
Hancock's award-winning1 personalized
engagement and financial wellness tools.
Signature Fiduciary Connect is administered though John Hancock
Retirement and is available to plan sponsors, third-party
administrators, and retirement plan advisors to assist with
designing and managing a workplace 401(k) plan. The fiduciary
component is managed through third-party administrators acting as
administrator fiduciary or named fiduciary. 3(38) providers act as
3(38) investment lineup fiduciaries. John
Hancock currently has partnerships with TAG Resources, AMP
(Powered by Nova 401(k) and AFS), Paylocity, Wilshire and Raymond James and is evaluating
expanding fiduciary partners in the coming months.
"We are excited to have Signature Fiduciary Connect available
and believe it helps to solve for some of the hurdles that exist
for employers who want to offer a workplace retirement plan but may
not have the in-house expertise or the resources to build and run
it," said Jack Barry, vice
president, product development, strategy, and transformation at
John Hancock Retirement. "We work with our partners, including TPAs
and retirement plan advisors, to continue to do what they do best -
and then we manage the rest - so the plan sponsor doesn't have
to."
Signature Fiduciary Connect brings a valuable and competitive
benefit to employees while helping to reduce administrative burden
and mitigate risk to the employer. It frees human resources and
benefits staff to focus on other employee needs, by providing ERISA
experts for plan design and compliance, utilizing outside
investment expertise to select investment options, and maintaining
a plan sponsor website and generating reporting.
"As the retirement plan provider servicing the most small and
mid-sized plans, our position in the market has given us both the
perspective and the insight to build Signature Fiduciary Connect to
be very helpful to employers," added Gary
Tankersley, head of sales and distribution, John Hancock
Retirement. "We believe that retirement plans should work for both
plan sponsors and plan participants and, through our external
partnerships, we are confident that implementing and servicing a
retirement plan can be an easy and seamless exercise."
1 "Gold: John Hancock Participant
Engagement Program," League of American Communications
Professionals LLC (LACP), LACP 2020 Spotlight Awards, Global
Communications Competition, November 2020; "DALBAR's State of the
Industry—Online Enrollment," DALBAR, Inc., October 2020; "Bronze
Award in Consumer/Retail," Financial Communications Society (FCS)
Portfolio Awards, September 2020.
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About John Hancock Retirement
John Hancock Retirement
is the U.S. retirement business of Manulife Investment Management.
For nearly 50 years, we've helped people plan and invest for
retirement; today, we're one of the largest full-service providers
in the United
States.1 We take a hands-on consultative
approach based on the idea that no two plans - and no two plan
participants - are exactly alike. We partner with plan sponsors,
financial professionals, and third-party administrators to ensure
that every plan is personal to the participant and delivers
results.
As of September 30, 2021,
John Hancock serviced over 52,000
retirement plans with over 3.1 million participants* and over
$220 billion in AUMA.2
*Participant Counts reflect all active participants with a
balance.
1. "2020 Defined
Contribution Recordkeeper Survey," PLANSPONSOR, 2020.
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2. As of September
30, 2021, John Hancock Life Insurance Company (USA) supported
48,549 plans, 1,605,083 participants, and $ 108,074,132,509.40 in
AUMA. John Hancock Life Insurance Company of New York supported
2,568 plans, 77,020 participants, and $ 6,133,181,973.20 in AUMA.
John Hancock Retirement Plan Services, LLC supported 1,562 plans,
1,503,715 participants, and $106,615,194,819.75 in AUMA.
Participant Counts reflect all active participants with a balance.
Approximate unaudited figures for John Hancock, provided on a U.S.
statutory basis.
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About Manulife Investment Management
Manulife
Investment Management is the global brand for the global wealth and
asset management segment of Manulife Financial Corporation. We draw
on more than a century of financial stewardship and the full
resources of our parent company to serve individuals, institutions,
and retirement plan members worldwide. Headquartered in
Toronto, our leading capabilities
in public and private markets are strengthened by an investment
footprint that spans 18 geographies. We complement these
capabilities by providing access to a network of unaffiliated asset
managers from around the world. We're committed to investing
responsibly across our businesses. We develop innovative global
frameworks for sustainable investing, collaboratively engage with
companies in our securities portfolios, and maintain a high
standard of stewardship where we own and operate assets, and we
believe in supporting financial well-being through our workplace
retirement plans. Today, plan sponsors around the world rely on our
retirement plan administration and investment expertise to help
their employees plan for, save for, and live a better
retirement.
As of September 30, 2021, Manulife
Investment Management's assets under management and administration,
including assets managed for Manulife's other segments, totaled CAD
$1.1 trillion (US $835 billion). Not all offerings are available in
all jurisdictions. For additional information, please visit
manulifeim.com.
Group annuity contracts and recordkeeping agreements are issued
by John Hancock Life Insurance Company (U.S.A.), Boston,
MA (not licensed in New
York), and John Hancock Life Insurance Company of
New York, Valhalla, NY. Product features and
availability may differ by state. Each entity makes available a
platform of investment alternatives to sponsors or administrators
of retirement plans without regard to the individualized needs of
any plan. Unless otherwise specifically stated in writing, neither
entity is undertaking to provide impartial investment advice or
give advice in a fiduciary capacity. Securities are offered through
John Hancock Distributors LLC, member FINRA, SIPC.
NOT FDIC INSURED. MAY LOSE VALUE. NOT BANK GUARANTEED.
© 2021 John Hancock. All rights reserved.
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SOURCE John Hancock Retirement