Boston– In a survey conducted by Chatham Partners, John Hancock Retirement Plan Services (JHRPS) rated as the best-in-class provider in more than 70% of the categories in Chatham’s benchmark universe. JHRPS outperformed the industry benchmark in every category. The survey measured a range of plan sponsor satisfaction results in categories including: Plan Sponsor Services, Participant Services, TPA Plan Services, Investment Services, Loyalty and Overall Satisfaction.
The study highlighted the success of John Hancock Retirement Plan Services’ client-focused service model which provides 401(k) plans with senior, highly trained and account-dedicated service representatives. This dedicated model is one of the cornerstones of the JHRPS service offering and has been a key component of its plan service offering.
The study also found that plan sponsors consistently reported higher satisfaction with JHRPS service as compared to 401(k) providers who offered a traditionally bundled model. “These outstanding results speak to the excellence of our service team, our TPA partners and John Hancock’s team approach to servicing our plan sponsor clients. Working together, we can offer the best of local service and national scale,” said Steven McCormick, Senior Vice President, Operations.
“Best-in-class service is a real differentiator for John Hancock,” said Katherine MacMillan, President. “This is more evidence of how we help make plans work.”
JHRPS is known within the 401(k) industry for offering an exclusively unbundled service model that operates with support from independent pension consultants, or Third Party Administrators. JHRPS is the only major 401(k) provider to work exclusively with the unbundled service model.
About Chatham Partners
Chatham Partners is a market research and consulting firm specializing in assisting clients in maximizing the value of past, current and future customer and intermediary seller relationships through customer satisfaction win/loss and intermediary analysis. For additional information visit http://www.chathamllc.com.
The Chatham DC Benchmark is a proprietary benchmark comprised of survey results of subscribing 401(k) providers. The study, conducted on behalf of JHRPS, was conducted between October and November 2006, included 9 subscribing 401(k) providers, and is based on 1,134 responses. The Chatham universe focuses on plans with assets up to $25 million.
John Hancock Retirement Plan Services Group annuity contracts are issued by John Hancock Life Insurance Company (U.S.A) (John Hancock USA). Product features and availability may differ by state. In New York, products are issued by John Hancock Life Insurance Company of New York.
About John Hancock Retirement Plan Services
JHRPS is the #1 provider of 401(k) plans amongst mutual fund, life insurance companies and banks, based on number of 401(k) plans managed, according to CFO Magazine. (2006 CFO Magazine 401(k) Buyers Guide Study, published June 2006.)
About John Hancock and Manulife Financial
John Hancock is a unit of Manulife Financial Corporation (the Company), a leading Canadian-based financial services group serving millions of customers in 19 countries and territories worldwide. Operating as Manulife Financial in Canada and Asia, and primarily through John Hancock in the United States, the Company offers clients a diverse range of financial protection products and wealth management services through its extensive network of employees, agents and distribution partners. Funds under management by Manulife Financial and its subsidiaries were Cdn$426 billion (US$370 billion) as at March 31, 2007.
Manulife Financial Corporation trades as ‘MFC’ on the TSX, NYSE and PSE, and under ‘0945’ on the SEHK. Manulife Financial can be found on the Internet at www.manulife.com.
The John Hancock unit, through its insurance companies, comprises one of the largest life insurers in the United States. John Hancock offers a broad range of financial products and services, including whole life, term life, variable life, and universal life insurance, as well as college savings products, fixed and variable annuities, long-term care insurance, mutual funds and various forms of business insurance.
Insurance products are issued by the following John Hancock insurance companies: John Hancock Life Insurance Company, John Hancock Variable Life Insurance Company*, John Hancock Life Insurance Company (U.S.A.)* and John Hancock Life Insurance Company of New York.
*Not licensed in New York
SOURCE: John Hancock Retirement Plan Services
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Melissa Simon Berczuk
(617) 663 - 4750