Celebrating the value of third-party administrators
John Hancock is recognizing October 17 as National TPA Day—the ninth year we’re celebrating this occasion—to show our appreciation for the value third-party administrators (TPAs) bring to retirement plans like yours. TPAs are versatile service providers that can help:
- Create and implement thoughtful plan designs to align with your business goals
- Take on administrative tasks that your staff may not have the expertise or capacity to manage
- Keep your plan in compliance with legislative and regulatory requirements
- Take on certain fiduciary responsibilities you don’t wish to retain
Join us in celebrating the TPAs that partner with you to provide the retirement solutions you and your employees need.
Visit our National TPA Day web page.
We need your census data—here’s why
Your employee census data plays a pivotal role in our ability to service your participants. Without this information, your participants can’t register their accounts online, which means they also can’t:
- Take advantage of our Cybersecurity Guarantee1
- Request online withdrawals
- Access our retirement app and other tools
- Receive personalized communications to help strengthen their financial well-being
Thank you in advance for helping us help your participants make the most of your retirement plan.
Please contact your John Hancock representative if you have questions or need assistance submitting your census information.
Online withdrawals—making it easy for you to create, review, and approve requests
Are you taking advantage of online withdrawals for your plan? This feature can help you simplify administration, save time, and reduce the amount of paper you submit to us.
Once activated, your employees will be able to request withdrawals for termination, retirement, and early/preretirement online. All they have to do is log in to their account at myplan.johnhancock.com and follow the instructions.
You or your TPA will also be able to request the following withdrawals through our website:
- Employee rollover money
- Employee voluntary money
Additionally, the online withdrawal feature can support requests for payments to multiple destinations and Roth distributions.2
Please contact your John Hancock representative to learn more about online withdrawals and how to ensure your plan is set up to take full advantage of this feature.
New process for submitting your plan documents
As of October 2, all administrative paperwork must be submitted through our plan sponsor website. We can no longer accept documents that are emailed to your John Hancock representative. Submitting online helps ensure your plan’s paperwork reaches us quickly and securely and allows you to track your submissions.
To upload a document:
- Log in to the plan sponsor website
- Select “Resources” on the contract homepage
- Choose “Submit a document”
- Add your documents and send to us
Please reach out to your client account representative if you have any questions.
It’s about time—Q4 financial well-being quarterly and participant webinars
The end of the year can be hectic, but there’s still time for participants to make progress on their financial goals. Our latest edition of financial well-being quarterly will include:
- Tips for finishing the year strong
- Budgeting ideas for the holidays
- On-demand education about cybersafety
For participants ages 50 and older, we’ll also be promoting our popular Navigating Medicare webinar to help them learn the basics, while those under age 50 will be encouraged to watch our Understanding the stock market series to help build their investment know-how.3
The Q4 financial well-being quarterly will hit your participants’ inboxes between October 24 and November 17. A copy will be available soon on the It’s about time web page.
What are the DOL’s priorities? What challenges remain with SECURE 2.0?
Watch the replay of our Q3 legislative update to find out. Our ERISA specialists share their insight on:
- SECURE 2.0 and the challenges that remain
- The DOL’s proposed fiduciary regulation
- What the DST Systems retirement plan settlement means for plan fiduciaries like you
- Other legislative and regulatory developments
Have a calendar-year plan? Now’s the time to start planning your annual notices.
Annual participant notices for calendar-year plans (December 31 year-end) must be sent by November 30—just a few weeks away. If you use Notice Manager, please submit your mailing request to Toppan Merrill, our notice provider, by Monday, November 6 to allow enough time for processing. Toppan Merrill generally needs 10 business days to print and mail your notices. Requests received after this date will still be processed, but the mailing may not go out by the deadline.
1 See the full guarantee for eligibility requirements. The guarantee is available at myplan.johnhancock.com. 2 Distributions from Roth accounts must be “qualified” for both the contributions and earnings to be treated as tax free. Certain conditions would apply. See your plan document for more details. All references to tax-free treatment of qualified distributions are intended to refer to the treatment of such distributions at the federal level only. You may want to consult a professional tax advisor regarding any tax issues discussed. 3 There is no guarantee that any investment strategy will achieve its objectives.
The content of this document is for general information only and is believed to be accurate and reliable as of the posting date, but may be subject to change. It is not intended to provide investment, tax, plan design, or legal advice (unless otherwise indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.
Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in NY), 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.
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FOR PLAN SPONSOR USE ONLY. NOT FOR USE WITH PLAN PARTICIPANTS.