John Hancock Retirement Plan Services For A Easy Relaxing Retirement

John Hancock Financial is an informal term for a United States insurance company which existed, in various forms, from its founding on April 21, 1862, until its acquisition in 2004 by the Canadian insurance company Manulife Financial. It was named in honor of John Hancock, a prominent Patriot. The company continues to operate as a wholly owned subsidiary of Manulife and its headquarters remains in Boston, Massachusetts. John Hancock Financial Network (JHFN) is the retail distribution company of John Hancock Life Insurance Company, U.S.A., which is a wholly owned subsidiary of Manulife Financial Corporation.

Why do we need a group 401(k)?

A 401(k) can help employees save strategically today to reach a more comfortable retirement tomorrow. Today, many Americans are not saving enough for retirement and that new reality might be setting them up for major financial disappointment down the road.

Working with John Hancock Retirement Plan Services, an independent financial representative and pension consultant (called a third party administrator), companies can help their employees prepare for retirement. And because of our flexible model, companies can benefit from a 401(k) plan tailored to the unique needs of their company and employees.

John Hancock Retirement Plan Services offers:

  • Group annuity contracts for 401(k) plans with 5 or more employees (no maximum number of employees)
  • Service for companies with multiple offices or locations
  • Streamlined services like Payroll Path that help minimize administrative tasks
  • Enrollment and education support for employees • Award winning communications materials* source
  • Support for the plans from financial representatives and pension consultants or third party administrators
  • Maximum employee salary deferral is $16,500 for 2009
  • Maximum total annual contribution for 2009 is the lesser of $49,000 or 100% of compensation
  • Catch up contributions for individuals aged 50 or older
  • 10 % tax penalty applies to most withdrawals made before the age of 59 ½

Advantages for Employees

  • Tax deferral: The wages a participant defers to a traditional 401(k) plan account are not subject to federal income tax at the time of their contribution. In addition, they do not pay taxes on the earnings on their 401(k) contributions while they are held in the plan.
  • Increased savings: Because traditional 401(k) contributions are made with pre-tax dollars, participants can save more with a 401(k) than with a traditional savings account.
  • Flexible: Participants decide how much they want to defer to their plan accounts (within government prescribed limits). Many plans also allow participants to adjust their deferral amounts as their economic circumstances change. If the Roth 401(k) option is offered, participants can decide how much to defer with pre-tax and/or after-tax dollars.
  • Easy payroll deductions: Payroll deductions help make saving for retirement a simple and effortless process. Participants control their contribution level and have the flexibility to change it. Through regular deductions, they’ll also be contributing regularly, which may, in the long run, end up paying a lower-than-average price per share unit. This does not guaranteed a profit or assure against loss.

So what are you waiting for:

login to your John Hancock Retirement Plan Services and enjoy loads of benefits

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