John Hancock Retirement Plan Services Backs Up Participant 401(k) Retirement Accounts with Cybersecurity Guarantee
Move represents "participants first" approach
BOSTON, Sept. 27, 2018 /PRNewswire/ -- John Hancock Retirement Plan Services (JHRPS) has formalized current practice, offering a Cybersecurity Guarantee to reimburse eligible participants for unauthorized transfers from their 401(k) retirement accounts, another way JHRPS puts its participants first.
John Hancock's technology infrastructure is scalable and strengthened with multiple layers of security. Its multi-faceted approach to data security not only includes safeguards implemented within the business unit, but also security measures at the John Hancock and global Manulife levels. The company's technology is consistent with the National Institute of Standards and Technology (NIST) guidelines, ISO 27001 principles, and other industry standard frameworks for information risk management.
"Retirement plan providers are technology companies," said Tony Todisco, senior vice president, Information Technology & Delivery Management. "As technology and online threats become more sophisticated, we are committed to keeping pace with new ways to protect our clients' and participants' accounts. Our Cybersecurity Guarantee underscores the strength of that commitment."
In keeping with the company's holistic "participants first" approach, JHRPS also educates participants on prudent online security practices that could apply to anything they do on the Internet.
About John Hancock Retirement Plan Services
As of June 30, 2018, John Hancock Retirement Plan Services serviced over 58,000 plans with over 2.8 million participants and $162 billion in AUMA Assets.1
About John Hancock and Manulife
John Hancock is a division 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 elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were over CAD$1.1 trillion (US$849 billion) as of June 30, 2018. 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 approximately 10 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. Additional information about John Hancock may be found at johnhancock.com.
1John Hancock Retirement Plan Services consists of John Hancock Life Insurance Company (U.S.A.) (not licensed in New York), John Hancock Life Insurance Company of New York (licensed in New York), Valhalla, New York and John Hancock Retirement Plan Services, LLC. Approximate unaudited figures for John Hancock Retirement Plan Services division, provided on a U.S. statutory basis.
John Hancock Life Insurance Company (U.S.A.) (John Hancock USA), John Hancock Life Insurance Company of New York (John Hancock New York), and John Hancock Retirement Plan Services, LLC are collectively referred to as "John Hancock".
John Hancock Retirement Plan Services, Boston, MA 02210.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
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SOURCE John Hancock Retirement Plan Services