John Hancock Retirement selected by Toray Group for recordkeeping and administration
BOSTON, MA, Sept. 8, 2020 - John Hancock Retirement, a Manulife Investment Management company, announced today that it's been selected by U.S. Toray Group Companies (Toray) for its retirement plan services for U.S. employees. Headquartered in Tokyo, Japan, Toray is a leading manufacturer specializing in the production of fibers and textiles, resin, film, carbon fiber and advanced composite materials, water treatment materials, and composite manufacturing equipment, with 12 principal subsidiaries operating in the Americas (as of February 2019). John Hancock Retirement is onboarding nearly 2,400 participants in the Toray 401(k) Savings Plan (plan), with approximately $250 million in plan assets.
The advisor to the plan is SWBC Retirement Plan Services (SWBC).
"Toray Group is excited to work directly with John Hancock Retirement's experienced specialist service team on plan design and participant engagement," said Brad Ferguson, vice president-institutions at SWBC. "Throughout this process, we have been continually impressed with communication from all levels of the firm, including sales, service, and the executive and conversion teams."
"At the forefront of these conversations is an understanding that every plan and every participant is unique, and our focus is creating a plan that works for Toray Group," added Gary Tankersley, head of sales and distribution, John Hancock Retirement. "We are thrilled to have them join John Hancock for servicing, and look forward to working with all of their participants on retirement planning and saving."
For more information on John Hancock Retirement, please click here.
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 helps deliver results.
As of June 30, 2020, John Hancock serviced over 51,000 retirement plans with over 3 million participants and over $177 billion in AUMA. 2
1 "2020 Defined Contribution Recordkeeper Survey," PLANSPONSOR, 2020.
2. As of June 30, 2020, John Hancock Life Insurance Company (USA) supported 46,942 plans, 1,590,762 participants, and $88,315,505,455 in AUMA. John Hancock Life Insurance Company of New York supported 2,511 plans, 78,978 participants, and $5,286,691,809 in AUMA. John Hancock Retirement Plan Services, LLC supported 2,009 plans, 1,348,513 participants, and $83,944,095,426 in AUMA. Participant Counts reflect all active participants with a balance. Approximate unaudited figures for John Hancock, provided on a U.S. statutory basis.
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 17 countries and territories. 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, 2020, Manulife Investment Management had CAD$900 billion (US$660 billion) in assets under management and administration. Not all offerings are available in all jurisdictions. For additional information, please visit manulifeim.com.
John Hancock Distributors LLC Member FINRA, SIPC 200 Berkeley Street Boston, MA 02116 800-225-6020
John Hancock Retirement Plan Services, LLC offers administrative or recordkeeping services to sponsors or administrators of retirement plans, as well as a platform of investment alternatives that is made available without regard to the individualized needs of any plan. Unless otherwise specifically stated in writing, John Hancock Retirement Plan Services, LLC does not, and is not undertaking to, provide impartial investment advice or give advice in a fiduciary capacity. John Hancock Trust Company LLC provides trust and custodial services to such plans.
NOT FDIC INSURED. MAY LOSE VALUE. NOT BANK GUARANTEED.
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