John Hancock selected by SI Group to administer retirement plan
BOSTON, MA (March 24, 2020)—John Hancock Retirement, one of the largest providers of retirement plans of all sizes in the United States,1 has been selected to administer retirement plans for SI Group, a leading developer and manufacturer of performance additives, process solutions, pharmaceuticals, and chemical intermediates.
The SI Group plan has $500 million in assets and covers more than 2,000 participants.
"John Hancock Retirement is known for their focus on plan participants' financial well-being as they prepare for retirement—with great information, tools, and processes. We think it bodes well for us and our employees," said Jody Wood, senior human resources manager, benefits, at SI Group.
According to Ms. Wood, keys to the selection of John Hancock included strong participant experience, good communication and education programs, and administrative outsourcing.
"We're thrilled to have forged this partnership with SI Group, and we're looking forward to delivering an experience that helps employees achieve financial wellness and become retirement ready," said Gary Tankersley, head of sales and distribution, John Hancock Retirement.
About SI Group
SI Group is a leading global developer and manufacturer of performance additives, process solutions, pharmaceuticals, and chemical intermediates, with strong positions in the plastics, oil field, rubber, fuels and lubricants, active pharmaceutical ingredients, and industrial resins industries. SI Group solutions are critical to the quality and performance of countless industrial and consumer goods. Headquartered in Schenectady, New York, SI Group operates more than 30 manufacturing facilities on five continents, with approximately $2 billion in annual sales and more than 3,000 employees worldwide; SI Group is a portfolio company of SK Capital Partners. In 2018, SI Group received its third silver award for corporate social responsibility by EcoVadis and is ranked among the top 7% of more than 45,000 worldwide companies. SI Group is The Substance Inside. For more information, visit siigroup.com.
About John Hancock and Manulife
John Hancock is a unit of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States and Manulife globally, including Canada, Asia, and Europe. We provide financial advice, insurance, and wealth and asset management solutions for individuals, groups, and institutions. Assets under management and administration (AUMA) by Manulife and its subsidiaries were CAD$1.2 trillion (US$0.9 trillion) as of December 31, 2019. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports more than 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and education savings plans. Additional information about John Hancock may be found at johnhancock.com.
About John Hancock Retirement
As of December 31, 2019, John Hancock serviced over 50,000 retirement plans with over 2.8 million participants* and over $181 billion in AUMA.
* Participant counts reflect all active participants with a balance.
About Manulife Investment Management
Manulife Investment Management is the global wealth and asset management segment of Manulife Financial Corporation. We draw on more than 150 years of financial stewardship to partner with clients across our institutional, retail, and retirement businesses globally. Our specialist approach to money management includes the highly differentiated strategies of our fixed-income, specialized equity, multi-asset solution, and private markets teams—along with access to specialized, unaffiliated asset managers from around the world through our multimanager model. Our personalized, data-driven approach to retirement is focused on delivering financial wellness in retirement plans of all sizes to help plan participants and members retire with dignity.
Headquartered in Toronto, we operate as Manulife Investment Management throughout the world, with the exception of the United States, where the retail and retirement businesses operate as John Hancock Investment Management and John Hancock, respectively; and in Asia and Canada, where the retirement business operates as Manulife. Manulife Investment Management had CAD$879 billion (US$677 billion) in AUMA. Not all offerings are available in all jurisdictions. For additional information, please visit us at manulifeim.com.
* MFC financials, 2020. Global Wealth and Asset Management AUMA as of 12/31/19 was CAD$879 billion and includes CAD$198 billion of assets managed on behalf of other segments and CAD$145 billion of assets under administration.
1 "Defined Contribution Recordkeeping Survey," PLANSPONSOR, 2019.
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