Getting started with John Hancock

Transcription

1 P R I M E Elements Managing Administration Getting started with John Hancock FOR PLAN SPONSOR USE ONLY. NOT FOR USE WITH PLAN PARTICIPANTS.

2 Getting Started with John Hancock Section 1 n Welcome to Message John Hancock n Welcome Introduction to John Hancock About this booklet p. Section 2 Getting set up on the plan sponsor website n How to register n Defining user roles 4 Section Enrolling participants n Online Enrollment Experience n Enrollment form 6 Section 4 Transferring assets from an existing plan n Making the transfer n Loan transfers and record keeping 10 Section 5 Online payroll submissions n Making electronic payments n Making online submissions 14 Section 6 Online services n Employee services n Plan sponsor services 16 Section 7 Contact information n Key Contacts n Mailing addresses 18 John Hancock Life Insurance Company (U.S.A.) and John Hancock Life Insurance Company of New York are collectively referred to as John Hancock. Getting Started with John Hancock 1

3 About this booklet This booklet is your guide to setting up a contract with John Hancock. It outlines the roles played by John Hancock, your Plan Consultant and your Financial Representative. It explains how to get set up on the plan sponsor website, enroll participants, and transfer assets from an existing plan. It also provides you with an overview of our online payroll options, as well as other online service capabilities. This booklet also includes a Plan Sponsor Quick Reference Guide (in the back pocket) which outlines common services you are likely to use when administering your plan. And, of course, if you have any questions along the way, please contact your John Hancock representative. For the purposes of this document Third Party Administrator (TPA) is referred to as Plan Consultant. This document is provided by John Hancock for informational purposes only, and while every effort is made to ensure the accuracy of its contents, it should not be relied upon as being tax, legal or financial advice. Neither John Hancock or any of its affiliates, representatives, employees, or agents provide tax, financial or legal advice. 2 Getting Started with John Hancock

4 1 Section one Welcome to John Hancock At John Hancock, we understand that one of the key factors affecting your qualified retirement plan success is effective administration. That s why we focus relentlessly on providing you with the dedicated service you need to reduce your administrative workload. With seamless plan set-up, automated plan maintenance, an intuitive self-service website for participants, and ongoing enrollment and education support, we help you do more than put your participants on the right track to retirement. We also help make your job easier. As part of our commitment to simplified administration, we also assign a dedicated Client Account Representative to assist you with your administrative needs. Because of our commitment to client satisfaction and our proven ability to work effectively with Plan Consultants and Financial Representatives, we have earned a reputation for strong service and responsiveness. We believe clients are consistently satisfied with the level of service they receive from our representatives because we CARE! CCommitment to Automated customer service A service-focused culture that delivers on our promise to meet your needs. A R E services A wide array of automated and seamless services that simplify administration. Representatives dedicated to your plan A dedicated team led by an assigned Client Account Representative. Easy access to tools and information Robust plan sponsor and participant websites available anytime. We look forward to working with you to take CARE of your plan administration. Getting Started with John Hancock

5 2 Section two Getting set up on the plan sponsor website How to register With an easy-to-use interface, downloadable reports and automated transaction tools, the plan sponsor website simplifies plan administration. Through this central hub, you can interact with John Hancock, manage your plan s automated messages and get round-the-clock access to the plan and participant-level information you need. Robust reporting tools let you download a wide array of reports that provide: n Plan details n Enrollment information n Participant account information n Detailed transaction histories n Investment details n and more! This makes it easier for you to simply and effectively manage your plan. Here s how to get started: 1 Look for your welcome from John Hancock that says you ve been added to the plan sponsor website. This will contain a temporary PIN you can use to register on the site 2 Go to or for New York plans (via the link in your welcome ) Click on the Register link under the First Visit section 4 Enter your contract number, Social Security Number and temporary PIN 5 Click Continue and review and accept the Terms and Conditions 6 Complete the registration information by creating your username, password, challenge question and answer 7 Click Continue one last time and you re registered. 4 Getting Started with John Hancock

6 If you have any questions about the registration process, contact your John Hancock representative. Defining website user roles To streamline administration and set up appropriate access privileges, your Trustee will assign a specific role to website users and delegate responsibilities, depending on the function they serve for your plan. Here s a quick overview of the various roles and their related responsibilities: n Trustees have full access to the website and are authorized to approve any type of financial transaction allowed under the contract. They can manage the profiles of all plan contacts and set up the Plan Consultant s website privileges n Authorized Signers have full access to the website. They can approve participant financial transactions allowed under the contract and are authorized to provide administrative directions and update payroll information. They can manage the profiles of all administrative contacts and payroll administrators and set up the Plan Consultant s website privileges n Administrative Contacts have full access to the website and can provide administrative directions and update payroll information. They can manage the profile of all administrative contacts and payroll administrators. They can also set up the Plan Consultant s website permissions n Payroll Administrators have limited access to the website and can only submit payroll information and access payments online. Don t forget to review your access level by going to the Plan Sponsor tab on the Contact Information page. You can access this page via the Contact Information link on the Contract home page. Getting Started with John Hancock 5

7 Section three Enrolling participants As part of our commitment to save you time, John Hancock offers a streamlined participant enrollment process. Your employees can submit their enrollment information in two ways: by enrolling online through our Online Enrollment Experience or by completing an enrollment form. No matter which option they choose, it s important that John Hancock receive enrollment information for all active participants who make ongoing contributions to the plan. This information allows us to allocate the contribution amounts to the appropriate accounts for each participant. Online Enrollment Experience The Online Enrollment Experience is a rich, personalized, multimedia site guided by our virtual enroller. By offering plan-specific features and investment options, the Online Enrollment Experience takes employees through the basics of their plan and provides them with the information required to make informed, relevant decisions. Before they begin, employees will need your plan s contract number and enrollment access number. After we establish your contract, we will give this information to your employees at the enrollment meeting or to your plan s administrator as soon as it is available. Participants can enroll from anywhere at any time through our Online Enrollment Experience. With Internet access, the plan s contract number and the enrollment access number, they simply log on to the participant website at ( for plans domiciled in New York) and click on the Enroll Now link on the home page. Enrollment forms should not be used for participants who have transfer balances for the Default to QDIA or for the JH Fund Mapping conversion options. The Online Enrollment Experience is not available in Spanish. 6 Getting Started with John Hancock

8 With this completely paperless process, participants who have access to the Internet can enroll online from anywhere, at any time. Participants simply: 1 Register for the participant website and click on Enroll Now upon completion of website registration. 2 Using their contract number and enrollment access number, complete the enrollment process and confirm their information is accurate. Print out their beneficiary form and give it to their plan administrator (if applicable) 4 Once registered and enrolled they will be able to: n Build their personalized retirement plan n Check their account balance n View their statements Participant website Getting Started with John Hancock 7

9 Section three Enrollment form The second way for participants to enroll in your plan is by completing an enrollment form, which is included in the Enrollment Kit. Once complete, simply fax the form to John Hancock and keep the original for your files. To complete this form, your participants should: 1 Look at the first section of the form to locate the contract 2 number they will need to register on the participant website. Enter their name, Social Security Number, date of birth and contribution amount. Your Enrollment Form To complete this form, read the attached instructions. Return the completed form to your plan administrator. COMPANY NAME ABC Company CONTRACT NUMBER Need help? Talk with your personal enrollment specialist at JHENROLL ( ) 1 of 8 ACTION ACTION PERSONAL INFORMATION Provide us information about you Last Name First Name, Initial PLEASE PRINT P LEASE PRINT Social Security Number Date of birth (mmm/dd/yyyy) XXX XX XXXX mmm / dd / yyyy CONTRIBUTIONS Select your contribution amount PRE-TAX CONTRIBUTIONS I elect to contribute the following percentage or amount per pay period on a pre-tax basis + : (Select one box only) 15% 12% 9% 6% % OR Other: % or $ YES! I want these contributions to increase by 2% or $40 each year until a maximum of 15% or $,000 is reached ROTH 401(K) AFTER TAX CONTRIBUTIONS I elect to contribute the following percentage or amount per pay period on a post-tax basis + : (Select one box only) 15% 12% 9% 6% % OR Other: % or $ + Subject to the plan s contribution limit and IRS limits. Tear out, complete and return to your plan administrator In the Investment Options section, participants use EZChoice to allocate contributions to one asset allocation portfolio OR, through Your Choice, select a number of investment options from the Funds available in the company s qualified retirement plan. OR Asset Allocation Portfolios Target Date Portfolios (Lifecycle) CODE % Retirement Choices sub-advised by MFC Global Investment Mgmt Retirement Choices at 2010 CZB Retirement Choices at 2015 CZC Retirement Choices at 2020 CZD Retirement Choices at 2025 CZE Retirement Choices at 200 CZF Retirement Choices at 205 CZG Retirement Choices at 2040 CZH Retirement Choices at 2045 CZI Retirement Living sub-advised by MFC Global Investment Mgmt LIFESTYLE Portfolios CODE % John Hancock sub-advised by MFC Global Investment Mgmt Lifestyle Fund Conservative Portfolio CLS Lifestyle Fund Moderate Portfolio MLS Lifestyle Fund Balanced Portfolio BLS Lifestyle Fund Growth Portfolio GLS Lifestyle Fund Aggressive Portfolio ALS Russell managed by Russell Investment Group Russell LifePoints Conservative Strategy CRS Russell LifePoints Moderate Strategy MRS Russell LifePoints Balanced Strategy BRS Tear out, complete and return to your plan administrato Retirement Living at 2010 LXB Russell LifePoints Growth Strategy ARS Retirement Living at 2015 LXC Russell LifePoints Equity Growth Strategy ERS Retirement Living at 2020 Retirement Living at 2025 LXD LXE Turn the page for more investment options Retirement Living at 200 LXF Retirement Living at 205 LXG Retirement Living at 2040 LXH Retirement Living at 2045 LXI 8 Getting Started with John Hancock

10 4 Sign the enrollment form, complete the Beneficiary Designation form (if applicable) found at the back and return both to their plan administrator. Consolidation Services If your plan allows, participants can move other retirement accounts into their qualified plan with John Hancock. The One is All You Need flyer in the back pocket of this booklet educates participants about the benefits of having one retirement account, and directs them to John Hancock s Consolidation Center to get started. After your participants return their completed enrollment forms to you, please fax them to John Hancock at The Beneficiary Designation Form should be retained by the plan administrator and does not need to be forwarded to John Hancock. Tip! Remember to update your payroll records with participant contribution information before faxing the enrollment form to John Hancock. If you have any questions about the Enrollment process, contact your John Hancock representative. If you have any questions about these services, call As with all financial matters, participants are encouraged to review their options with a Financial Representative before making a decision. Getting Started with John Hancock 9

11 4 Section four Transferring assets from an existing plan Making the transfer To make the transition from your current provider as easy as possible, and ensure a timely and accurate transfer of assets, you need to: 1 Decide on timing Talk to your Plan Implementation Manager to decide the timing of the transfer of assets that works best for you, your Financial Representative and your Plan Consultant. 2 Authorize the transfer Review the liquidation letter you receive from your Plan Implementation Manager, which is prepopulated with required information like the transfer date, and send it to your current provider to authorize the transfer of your plan s assets to John Hancock. You may need to fill in certain pieces of information, which are highlighted in the sample letter below: 10 Getting Started with John Hancock

12 Prepare a participant data file Prior to the transfer of assets, John Hancock needs to receive a participant data file to create participant accounts, regardless of which conversion option you choose. The participant data file should list all employees (active and terminated) with a transfer balance. 4 Request an acceptance letter (optional) If your current provider requests it, speak to your Plan Implementation Manager to have them prepare a customized letter accepting the transfer of assets. 5 Announce the transfer of plan assets to employees John Hancock offers customized announcement templates that you can use to advise your plan participants that you have changed retirement plan providers. These templates are available from your John Hancock representative. What is a blackout period? 6 Distribute blackout notices to employees^ Announcement template When announcing the transfer of plan assets, administrators of 401(k) plans must provide advance notice to all plan participants and beneficiaries regarding the need to observe a blackout period. This notice must be sent in writing, or electronically if recipients can receive electronic notice, at least 1 days (but not more than 61 days) before the start of the blackout period. ^ You are responsible for mailing blackout notices to your participants unless you have selected the Default to Qualified Default Investment Alternative (QDIA) conversion option. In this case, John Hancock will prepare and mail customized conversion notifications to participants, including QDIA and blackout notices. The Department of Labor defines the blackout period as any period of more than three consecutive business days during which plan participants (including terminated employees) and beneficiaries may not be able to: n Access account balances n Make withdrawal or loan requests n Make inter-account transfers. Getting Started with John Hancock 1 1

13 4 Section four John Hancock provides support tools to help you promote your qualified retirement plan to employees. For more information see the To help you notify your employees about the blackout period, your Plan Implementation Manager can provide you with pre-populated templates that have been reviewed by your Plan Consultant. If there are any changes once the blackout begins (e.g. length of the blackout period), you can also use the same templates to send a mandatory immediate notice to all affected participants and beneficiaries to explain the reasons for the change. Increasing Enrollment in Your Plan flyer in the back pocket of this booklet. 7 Schedule an enrollment or education meeting Depending on the conversion option you select, your Regional Communication Consultant can help you decide if you should hold an enrollment meeting before, or an education meeting after, the transfer of assets. This meeting can help ensure that all your participants understand the terms of your plan and the investment options available with John Hancock. It also provides an ideal opportunity to highlight the benefits of contributing to a qualified retirement plan both for participants and for eligible employees who have not yet joined the plan. 8 Prepare a participant allocation listing When the transfer assets are liquidated and wired to John Hancock, we will need an electronic participant allocation listing from the prior provider. This file should include: n Participant names and Social Security Numbers n An account balance breakdown by money type for each participant If you have any questions about transferring assets from your prior provider, contact your John Hancock representative. 9 Establish loan transfer records (if applicable) If your plan has existing loans for contributing participants, you can transfer them to your John Hancock contract by completing a Loan Record Keeping Transfer Request form. This will allow us to undertake the record keeping for these loans. Before choosing this option, please read the section on the next page to learn more about our loan record keeping function. 12 Getting Started with John Hancock

14 Loan transfers and record keeping If your plan has existing loans for contributing participants, John Hancock will undertake the record keeping for those loans. To streamline the process, we will work with you and your Plan Consultant to access the information needed to set up each transfer loan and get any required Trustee signatures. Completing the Loan Record Keeping Transfer Request form To have John Hancock track loan repayments for transfer loans, complete the Loan Record Keeping Transfer Request form. This form will ask you to provide us with the outstanding loan balance as of the termination at the prior carrier. John Hancock will use the loan balance reported on this form to set up the total outstanding loan balance. Here are a few things to keep in mind: n The timing of when John Hancock receives the Loan Record Keeping For your convenience, if the plan has more than six transfer loans, the Trustee may sign one form and then attach a spreadsheet that includes the following information: n Contract name and number n Participant first and last name n Social Security Number n Outstanding loan balance by money type (amount upon termination from current investment provider) n Maturity date Transfer Request form is important because delays can result in discrepancies with the outstanding loan balance n Loan repayments submitted with your payroll will remain in the cash account until we receive the loan transfer paperwork. n Interest rate n ID number assigned to loan (maximum three digits). Getting Started with John Hancock 1

15 5 Section five Online payroll submissions To help reduce your administrative workload, John Hancock offers three electronic submission methods using the highest level of security, 128-bit encryption, to help ensure the security of your information. By working electronically with us, you will enjoy: n Same day crediting of payments n Lower costs by saving on mailing n Time savings and improved efficiency n Confirmation and real-time tracking of your submissions. Making electronic payments Once you provide your banking information in the Recordkeeping Agreement (RKA), you will be set up for electronic banking payments. If you did not include this information in the RKA, you will need to complete the Plan Sponsor Website Access and Banking Authorization form which you will receive from your Plan Implementation Manager. Making online submissions We have created a simple process for you to electronically submit and update your participants payroll information. Depending on your payroll capabilities, there are three options for submitting information electronically: online entry, file submission by you or file submission by your payroll company. Let s look at each in turn: Option 1: Online entry With online entry, you can input contribution and census information directly through the plan sponsor website. To maintain accurate records, census information should be submitted with each payroll for both existing and new employees. 14 Getting Started with John Hancock

16 Option 2: File submission by you This option allows you to submit payroll information by uploading files to the plan sponsor website. You can find customized templates and file format specifications on the Tools page of the plan sponsor website at or for plans domiciled in New York. Online tutorial If you would like help understanding the various submission methods, you can find an online payroll submission tutorial on the plan sponsor website. If you have any questions regarding the online payroll submission process, contact your John Hancock representative. Option : File submission by your payroll company With this option, you sign a form to authorize your payroll vendor to submit your contribution and census information directly to John Hancock through a secure file transfer. Once this information is received, you will be able to submit an electronic payment. Contact your John Hancock representative for more information and to find out if this option is available with your payroll vendor. Getting Started with John Hancock 1 5

17 6 Section six Online services To help you streamline your processes and reduce your administrative burden, John Hancock offers a wide range of web-based services that are available to your plan. Employee services The following services allow you to reduce or completely eliminate the collection of forms from your participants. Participant requests are transferred electronically to you via the plan sponsor website. In all cases, you receive notifications via the Message Center so you can update your payroll records or authorize the transaction. Online enrollment (as discussed in Section ) lets employees enroll in your qualified retirement plan online, 24/7. Online deferral management enables participants to change their contribution rates on the participant website, based on plan rules. Participants can either make one-time deferral changes or schedule regular annual increases. Participant address management allows participants to update their addresses online to ensure they receive their quarterly statements and disbursement checks in the mail. Participant-initiated loans allow participants to initiate loan requests via the participant website. Participant-initiated withdrawals allow participants to initiate withdrawal requests via the participant website for termination and retirement withdrawal types. o Plan Highlights allow you and your participants to access a summary highlights document via the participant website. Please note that not all services may be available to your plan. o Note: Plan Sponsors can also initiate other types of withdrawals via the plan sponsor website. 16 Getting Started with John Hancock

18 Plan sponsor services Plan administrative services The following plan-specific online services are also available to help plan sponsors. Plan highlights allow you to access a document that contains plan information provided by your Plan Consultant. This document is available on both the plan sponsor and participant websites. JH EZstart helps you administer your plan s auto-enrollment provision by mailing a customized enrollment kit to all newly eligible employees. JH EZincrease helps you administer your plan s automatic contribution increase provision by notifying Plan Sponsors of upcoming anniversary dates and deferral information for affected participants. Real-time vesting can be calculated by John Hancock for participant statement reporting and online transactions. Alternatively, your Plan Consultant can submit vesting percentages to John Hancock on an annual basis. Message Center The Message Center is an important part of how John Hancock communicates with Plan Sponsors and Plan Consultants. The Message Center allows you to manage alerts and notifications, and act on transactional s associated with the administration of your plan. To access the Message Center: Go to the Message Center summary located on the Your contract home page and click on View. This takes you to the Message Center main page where you can access all your messages and tasks. Getting Started with John Hancock 1 7

19 7 Section seven Contact information Client Account Representative If you have questions regarding the ongoing administration of your plan, contact your dedicated Client Account Representative. Assistance is available from 8:00 A.M. to 8:00 P.M. (ET), Monday through Friday. Toll Free Numbers Fax Numbers Plan Sponsors: Enrollment Forms: Plan Sponsors: [New York Plans] Other Documents: Contract #: Enrollment Access #: Participants: [English] Participants: [Spanish] John Hancock Websites Plan Sponsor Website: New York plans - Participant Website: New York plans Getting Started with John Hancock

20 The following John Hancock representatives are available to help support your plan. To help you determine who best to contact for help, we ve listed some of their primary responsibilities below. John Hancock Representatives Regional Communication Consultant n Enrollment materials and forms n Enrollment and education meetings n How to complete enrollment forms n Ongoing participant education Plan Implementation Manager Plan set-up including: n Asset transfer from current provider n Automated services set-up n Payroll set-up Client Account Representative n Administrative issues n Ongoing servicing of your plan n How to use automated services n Payroll submission assistance n Enrollment materials for newly eligible employees n Ongoing education material/ resources for participants Name: Phone: Name: Phone: Name: Phone: Independent Representatives Plan Consultant (PC) n Plan document and design questions n Annual compliance testing and filing n Participant notification requirements Financial Representative n Investment-related matters n Employee enrollment and education presentations n Employee investment advice Name: Company name: Address: Phone: Name: Company name: Address: Phone: Getting Started with John Hancock 19

21 Notes: 20 Getting Started with John Hancock

22 JH EZincrease is a registered trademark of John Hancock Life Insurance Company (U.S.A.), used under license by John Hancock Life Insurance Company of New York. 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. 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, NY Product features and availability may differ by state. The Investment Management Services Division of John Hancock provides investment information relating to the group annuity contract. Plan administrative services may be provided by John Hancock Retirement Plan Services LLC or a plan consultant selected by the Plan. NOT FDIC INSURED MAY LOSE VALUE NOT BANK GUARANTEED NOT INSURED BY ANY GOVERNMENT AGENCY 2014 All rights reserved. G-PS 5167-GE 11/ FOR PLAN SPONSOR USE ONLY. NOT FOR USE WITH PLAN PARTICIPANTS. GA