Viewpoints from John Hancock Retirement
As one of America’s most trusted financial brands, we believe everyone deserves the tools and guidance to achieve financial wellness and retire with confidence. We’ve made retirement plans work for nearly 50 years, and today we’re one of the largest full-service providers in the industry.
At John Hancock, we make retirement plans work.
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Does income replacement really measure retirement readiness?
Income replacement ratios can make appropriate benchmarks for 401(k) plan decision-makers, but participants might want to use a more personalized measure in planning for retirement.
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Cryptocurrency in 401(k) plans
Over the past few years, individual investors have become increasingly interested in investing in cryptocurrency. As a result, the U.S. Department of Labor (DOL) issued Compliance Assistance release No. 2022–01 401(k) Plan Investments in “Cryptocurrencies” (the release) to provide its initial guidance on the matter. It’s important to understand that guidance and how it might apply to your plan.
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Advisors can help reduce financial stress amid uncertainty
The pandemic has brought more than its share of financial uncertainty. Our recent study of stress, finances, and well-being shows an increase in people turning to financial advisors for help and how doing so can help improve their overall finances and help them mitigate financial stress.
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Workers want help making these financial decisions
Decision-making fatigue—just another unexpected side effect of the pandemic. With so much uncertainty, it’s no wonder that 82% of our retirement plan participants say they’d like to be more confident making financial decisions. And they’ve told us the types of help they need.
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What are the lifetime income illustrations on my 401(k) statement?
If you’re saving in a defined contribution (DC) retirement plan, you receive a quarterly statement that shows your account balance and investments. To help you see how much monthly income your account balance will generate, your statement will start including two lifetime income illustrations.
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Adding a nonqualified deferred compensation plan to your benefits package
In a tough labor market, you may want to consider adding a nonqualified deferred compensation (NQDC) plan as a supplemental, tax-advantaged savings opportunity for executives and other employees.
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Six myths about retirement plans for small businesses—debunked!
We debunk the myths that keep many small business owners from offering a retirement plan.
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Three participant realities—and ways to improve your next retirement readiness assessment
Inspired by the research in our “State of the participant 2021” report, here are three observations on what retirement plan savers are going through today—and next steps you might consider to ease their journey going forward.
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When are participant change notices required under ERISA 404a-5?
Being a plan sponsor comes with administrative and fiduciary duties. Knowing whether a retirement plan event triggers the need to send a change notice or not is one of those confusing areas that can require guidance. This guide can help you understand your requirements beyond the annual and quarterly notices.
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Is there relief from partial 401(k) plan termination during the pandemic?
Many businesses have been forced to make some tough decisions because of the pandemic—including laying off or letting go of staff. Normally, if a company lets go of a certain percentage of its active 401(k) participants in a plan year, the IRS can declare its 401(k) plan partially terminated, which triggers full vesting. But because of the COVID-19 relief package passed in December 2020, companies hurt by the economic slowdown may be able to avoid partial termination—if they meet certain requirements.
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