Through the My Learning Center platform, John Hancock is also offering educational programs to family members of its participants, with courses specifically designed to be appropriate for various age groups, from elementary school to college students and adults.
"We've seen, through our annual Financial Stress Survey, that a lack of financial literacy is a significant cause of stress," said Patrick Murphy, president of John Hancock Retirement Plan Services.
"It's a societal challenge that cuts across income groups and directly affects an individual's ability to prepare for retirement," Murphy added. "If we want to engage our participant base, we need to provide the tools to address the basic causes of financial stress, so they can succeed. That's why we made sure My Learning Center would be available not only to retirement plan participants, but to their families as well, through age-appropriate modules. We want to engage the entire family, and begin to impact individuals' financial literacy, in some cases even before they enter the workforce."
"John Hancock's commitment to the long-term financial wellness of its customers is something we are proud to be a part of," said Ray Martinez, EverFi's president of Financial Education. "Working together, we look forward to having a significant positive effect on many people's lives."
John Hancock has worked with EverFi for the past four years, providing financial literacy curriculums to 35 Michigan public schools, and to Boston-area students through the MLK Scholars program. Almost 2,800 students in Michigan and Boston took a combined total of more than 13,000 EverFi course modules this year, and reported being significantly more confident and better prepared to make the financial decisions that they will face as they move through their teen years and into young adulthood. Earlier this year, NASDAQ recognized John Hancock's unique digital learning initiatives with an Innovation in Financial Education Award.
"We are incredibly proud of the success EverFi and John Hancock have had within our communities," said Thomas Crohan, AVP and counsel, John Hancock Corporate Responsibility & Government Relations. "Broadening our relationship with EverFi reinforces our commitment to improving financial literacy in America."
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, the 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 $718 billion (C$934 billion) as at June 30, 2016. 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
As of June 30, 2016, John Hancock Retirement Plan Services serviced more than 57,000 plans with more than 2.7 million participants and more than $137.8 billion in assets under management and administration (AUMA).
About EverFi, Inc.
EverFi, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life. Its comprehensive critical skills platform is focused on Financial Education, Digital Citizenship, STEM Career Readiness, Diversity and Inclusion, Entrepreneurship, Character Education, and Health and Wellness. The EverFi Education Network is powered by more than 3,300 partner organizations across all 50 states and Canada, and annually reaches 6 million learners. Learn more at everfi.com.
As of June 30, 2016, John Hancock Life Insurance Company (USA) supported 43,787 plans, 1,619,408 participants, and $77,118,688,000 in AUMA. John Hancock Life Insurance Company of New York supported 2,410 plans, 72,453 participants, and $4,208,061,000 in AUMA. John Hancock Retirement Plan Services, LLC supported 10,808 plans, 1,050,014 participants, and $56,540,684,000 in AUMA. Approximate unaudited figures for John Hancock Retirement Plan Services division, provided on a U.S. statutory basis.
John Hancock Life Insurance Company (USA), John Hancock Life Insurance Company of New York, John Hancock Retirement Plan Services, LLC and EverFi Inc. are not affiliated and are not responsible for the liabilities of the other.
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 selects various investment options to offer in its retirement plan for investment. John Hancock Retirement Plan Services, LLC does not provide fiduciary investment advice. 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.), Boston, MA (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, 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 Signature™ is a trademark of the Group Annuity Contracts and recordkeeping agreements issued by John Hancock Life Insurance Company (U.S.A.), used under license by John Hancock Life Insurance Company of New York.
NOT FDIC INSURED | MAY LOSE VALUE | NOT BANK GUARANTEED
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SOURCE John Hancock Retirement Plan Services