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BOSTON, Oct. 18, 2021 /PRNewswire/ - John Hancock
Retirement, a company of Manulife Investment Management, today
celebrates the expertise and partnership of third-party
administrators (TPAs) who help to make retirement plans work. Every
year since 2014, John Hancock has designated the first business day
after the October 15 Form 5500 filing
deadline as a time to recognize the contributions of TPAs to the
retirement plan business and the financial future of retirement
participants.
This year, John Hancock Retirement is once again highlighting
the partnership that is intrinsic to the role of TPAs and the
potential benefit that utilizing a TPA can have, such as improved
plan design for participants and seamlessly managing the day-to-day
operations of employer plans. National TPA Day shows appreciation
for the role TPAs play in the retirement marketplace and to
recognize the role they've played in the success of John Hancock's
retirement plan business. As of June 30,
2021, 98% of retirement plans recordkept by John Hancock
were serviced in partnership with a TPA firm.*
"TPAs play a critical role in making our retirement plans work,"
said Sue Reibel, CEO, John Hancock
Retirement. "Our industry truly shines at the intersection of tools
and technology and human support. We applaud our partners who
provide guidance and information, and work closely with retirement
plan providers, to design plan solutions that encourage higher
contribution and satisfaction rates for workplace plans."
"We value TPAs and their contribution to our business model,"
added Scott Francolini, head of
strategic relationship management and consulting, John Hancock
Retirement. "We take the insight and observations from our
conversations with TPAs to evolve our practices and offerings. As
independent consultants for their clients, we know we can depend on
their knowledge and input to help make us better."
View the Celebrating TPAs landing page for more on John
Hancock's commitment to its TPA partners.
* John Hancock
internal data, as of 6/30/21.
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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 June 30, 2021,
John Hancock serviced over 52,000 retirement plans with over 3.1
million participants* and over $218 billion in
AUMA.2
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*Participant Counts
reflect all active participants with a balance.
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1. "2020 Defined
Contribution Recordkeeper Survey," PLANSPONSOR, 2020.
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2. As of June 30,
2021, John Hancock Life Insurance Company (USA) supported
47,995 plans, 1,606,720 participants, and $ 108,283,261,827.19
in AUMA. John Hancock Life Insurance Company of New York supported
2,549 plans, 80,027 participants, and $ 6,434,822,673.87 in
AUMA. John Hancock Retirement Plan Services, LLC supported 2,207
plans, 1,428,948 participants, and $103,680,838,816.18 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 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 June 30, 2021, Manulife
Investment Management had CAD $1.0
trillion (US $834 billion) in
assets under management and administration. Not all offerings
are available in all jurisdictions. For additional information,
please visit manulifeim.com.
John Hancock Retirement Plan Services LLC provides
administrative and/or recordkeeping services to sponsors or
administrators of retirement plans through an open-architecture
platform. John Hancock Trust Company LLC provides trust and
custodial services to such plans.
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, New York. Product features and
availability may differ by state. All entities do business under
certain instances using the John Hancock brand name.
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, each such company does
not, and is not 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.
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© 2021 John Hancock.
All rights reserved.
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SOURCE John Hancock Retirement