We are pleased to offer a 3(16) solution tailored to the John Hancock group annuity product. This product offering is intended to complement the John Hancock group annuity product and provide employers with a more comprehensive solution. We offer two levels of service with the John Hancock product.
Basic Fiduciary Services
This product offering includes the following services:
- Serve as loan and distribution manager for the plan including taking on signing authority for loans and distributions.
- Monitor for loan defaults
- Monitor for cash-outs
- Search for missing participants
- Send terminated participant’s their distribution package
- Review the vesting upload file by the third party administrator
- Review of non-discrimination testing prepared by third party administrator
- Coordination with John Hancock and the plan’s third party administrator
Partner Fiduciary Services
This product offering includes everything in the Basic Fiduciary Service package plus the additional services:
- Quarterly reconciliation of payroll records and actual contributions received by record-keeper
- Review and sign Form 8955-SSA
- Review and sign Form 5500-SF or review of Form 5500
Custom Services
We are also are available to price custom services to meet the needs of particular plan sponsors. Please contact us for additional information.