BOSTON, Nov. 23, 2015 /PRNewswire/ -- John Hancock Retirement Plan Services, one of the largest providers of retirement plans in the United States, is pleased to announce a significant enhancement to its award-winning1 mobile application, MyLifeNow. Employees of John Hancock Total Retirement Solutions clients can now use the mobile app to enroll in their 401(k) plan.
With the addition of MyLifeNow mobile enrollment, participants can now enroll in their plan, enroll in automatic increase, and adjust their pre-tax, Roth or after-tax contributions, as well as view their account balances, personal rate of return, and investment allocations.
"If we want to engage with participants, we need to meet them where they are – not ask them to come to us," said Patrick Murphy, president of John Hancock Retirement Plan Services. "Mobile phones are rapidly becoming the primary vehicle for people to manage their lives – whether that is banking, communication, and yes – even retirement planning. Ensuring our participants can actually interact with their plan, not just get information, will be critical as we continue to move into a more mobile world."
The MyLifeNow mobile app was launched in 2013 to give participants anywhere access to their 401(k) account balance, personal rate of return, estimated annual retirement income, year-to-date contributions, and investment allocations by asset class. Earlier this year, the company added transactional capabilities, including reviewing and changing contribution percentage rates and enrolling in a plan's auto-increase capability.
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 Life Insurance Company (U.S.A.), John Hancock Life Insurance Company of New York and John Hancock Retirement Plan Services, LLC are collectively 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.
Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), (not licensed in New York) and John Hancock Life Insurance Company of New York. Product features and availability may differ by state.
Both John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York do business under certain instances using the John Hancock Retirement Plan Services name.
JH Enterprise® is a registered trademark by John Hancock Life Insurance Company (U.S.A.).
JH SignatureTM is a trademark of John Hancock Life Insurance Company (USA) used under license by John Hancock Life Insurance Company of New York.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED | NOT INSURED BY ANY GOVERNMENT AGENCY
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1Earned the 2013 DALBAR Mobile InSIGHT Seal of Excellence for our MyLifeNowSM mobile app and named a "Pacesetter".
SOURCE John Hancock Retirement Plan Services