John Hancock Retirement Plan Services Hired to Run $217 million Equity-League 401(k) Plan
John Hancock RetirementBOSTON, Nov. 19, 2015 /PRNewswire/ -- John Hancock Retirement Plan Services, one of the largest providers of retirement plans in the United States, is pleased to announce its appointment by the Equity-League to administer the $217 million, 18,000 participant Equity-League 401(k) Plan, a Taft-Hartley multi-employer retirement plan.
The Equity-League provides benefits to members of the Actors' Equity Association ("Equity"). Equity is the U.S. labor union that represents more than 50,000 Actors and Stage Managers. Ryen Sherman, of Segal Rogerscasey, served as the consultant to the plan in choosing John Hancock.
According to Arthur Dreschler, the plan's executive director: "We selected John Hancock because of their excellent client references, investment options, customer services, and rates. Our high expectations going in have been met to date."
John Hancock Retirement Plan Services' Taft-Hartley business has grown its assets under administration by 79% between 9/30/2010 and 9/30/2015. Since December 2014, when John Hancock announced the intention to acquire the retirement plan services unit of New York Life, the firm has increased its Taft-Hartley assets under administration by 24% to $13 billion, with 13 new plans in 2015.
About John Hancock Financial and Manulife
John Hancock Financial is a division of Manulife, a leading Canada-based financial services group with principal operations in Asia, Canada and the United States. Operating as Manulife in Canada and Asia, and primarily as John Hancock in the United States, our group of companies offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Assets under management and administration by Manulife and its subsidiaries were C$888 billion (US$663 billion) as at September 30, 2015. Manulife Financial Corporation trades as 'MFC' on the TSX, NYSE and PSE, and under '945' on the SEHK. Manulife can be found on the Internet at manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers and administers a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, long-term care insurance, college savings, and other forms of business insurance. Additional information about John Hancock may be found at johnhancock.com.
John Hancock Retirement Plan Services, LLC is also referred to as "John Hancock".
John Hancock Retirement Plan Services, LLC offers plan administrative services and service programs through which a sponsor or administrator of a plan may invest in various investment options on behalf of plan participants. These investment options have not been individually selected by John Hancock Retirement Plan Services, LLC. John Hancock Trust Company, LLC provides trust and custodial services to such plans.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY GOVERNMENT AGENCY
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SOURCE John Hancock Retirement Plan Services
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