ERISA And Fiduciary
Responsibility

A carefully considered qualified retirement plan offers your employees a great opportunity to build their retirement savings. As a plan fiduciary, it's vital to understand the nature and requirements of your fiduciary responsibilities.

Some of your key fiduciary responsibilities include prudently selecting a qualified retirement plan provider and the investment options for your plan, evaluate whether your plan fees are reasonable, monitor the investments and overall plan operations, and communicate details of your company’s plan to your employees.

Helping you understand your role

It can be challenging to fulfill your obligations when fiduciary responsibilities are not clearly defined. John Hancock clients have access to various resources to help you understand your role.

Our Fiduciary Support materials provide plans with an overview of their fiduciary responsibilities, including:

  • Selecting and monitoring service providers and understanding their fees
  • Selecting and monitoring investment options in the plan
  • Plan administration, monitoring, reporting and documentation
  • Participant communication

Understand your plan's fees and services

When selecting a provider, it is important to understand what you and your plan participants are paying for. This includes fees for Plan Services as well as Investment Services.

We are guided by a set of core principles firmly in line with the purpose of 401(k) plans. These values drive everything we do, including the commitments outlined in our Declaration Warranties

John Hancock's Declaration Warranties±

Declaration of Independence

John Hancock’s charges for Plan services are completely independent of the Funds selected by a Plan Trustee for a Plan's investment lineup.

Declaration of Freedom

The Plan Trustee is not required to select any John Hancock proprietary Funds for the Plan's investment lineup.

Declaration of Fairness

Each Plan participant pays the same percentage of their investments towards the cost of Plan services.

Declaration of Efficiency

The underlying funds offered through the JH Signature platform will use the most efficient class structure that provides participants with the LOWEST NET INVESTMENT COST.

We will indemnify and make the Plan whole for any loss resulting from a violation of the Declaration Warranties.

Dynamic Plan Review¥

At John Hancock we recognize that retirement plans are dynamic. As your plans grow and its needs change, you need a provider just as dynamic – one that adapts with you every step of the way. We work together with your Financial Representative to proactively review your plan and ensure the services and costs continue to reflect your plan’s changing needs. We also suggest services and tools that address you unique business objectives and continue to help simplify plan administration.

Select and monitor investments

Making investment decisions for group plans can be an intimidating task. That's why we provide you with Third-Party and John Hancock service options that can help your plan participants.

Investment Policy Statements

An investment policy statement can assist the use of a prudent process for selecting and monitoring investment options. It can also provide support for choosing your plan's investment options, conduct annual review, as well as online tools.

3(21) & 3(38) Service

3(21) Adviser Services enables you to pick from selected lineup that are covered by the provider. Some allow you to create your own lineup. 3(38) Investment Management Services provides Plan Sponsors the ability to delegate investment menu creation, monitoring and replacement duties.

Monitor your plan

Once your plan is established, periodically monitor all aspects, from fees and services to investment performance.

Plan Review

The Plan Review provides you with information to help you assess the overall health and performance of your plan and help fulfill your ongoing fiduciary responsibilities. It provides both plan and participant level information, illustrates participant activity and includes information that allows you to monitor your plan’s investment selections.

JH Signature Fund Scorecard

This report incorporates the latest review of the JH Signature™ investment platform, performed by leading industry benchmarking organizations Morningstar, Fi360 and RPAG. View the sample Signature scorecard by selecting the PDF below.

Ongoing participant communication and education

ERISA regulations require you to explain your company's plan to your employees. We have the tools to help you, including:

Quarterly
Statements
Notice
Center
Post enrollment
education
Education
Resource Center

± These Declaration Warranties are applicable independent of any applicable Fiduciary Standards Warranty for which the Plan may qualify. Contact your John Hancock representative to obtain a copy of the Declaration Warranties Certificate.

¥ Dynamic Plan Review is available to plans with assets greater than $3 million and have been with John Hancock for at least 3 years.