John Hancock Retirement Plan Services Expands Financial Wellness Resources to Help Participants Live Well Today and Prepare for a Secure Retirement Tomorrow
Integrated into the John Hancock participant digital experience, My Money Connector uses data aggregation to provide participants with a view of their liability and asset accounts, and provides personal financial management modules to help them optimize their finances. My Money Connector links to accounts at thousands of institutions, including brokerage/retirement accounts, 529 plans, HSA accounts, checking accounts, savings accounts, credit cards, mortgages, and personal loans. With this robust view of their finances, participants can use My Money Connector to build a budget, monitor spending, establish savings goals, and help manage their finances.
"At JHRPS, we're committed to helping participants manage their finances while on their personal journey to retirement," said
My Money Connector is targeted to be available for no additional cost to plan sponsors or participants on the JHRPS open architecture platform in August and its group annuity platform in November. In addition to helping individuals, My Money Connector also will provide JHRPS and plan sponsors access to enhanced participant data and insights.
Other components of
- Education through a robust curriculum on its participant website through an interactive platform offering short animations, video and game-inspired learning modules available in both English and Spanish. In addition, JHRPS offers a learning curriculum to help the whole family with financial literacy. Group education options also are available, including online interactive webcasts or onsite sessions.
- Guidance through an online Financial Wellness Assessment, which helps participants determine their own financial fitness and improve their financial health through a customized action plan and resources connected to personally-relevant financial topics.
- One-on-one advice, available through
JHRPS' Personal Financial Solutions Group , helps participants enroll in their retirement plan, realize the benefits of combining assets from a previous employer's plan, enroll into John Hancock Retirement Advice or understand their distribution options, and more. For individuals who want personalized savings and investing advice, JHRPS offers a proprietary professionally-managed approach that provides a customized strategy for each participant. Advice is also available after retirement with a personalized savings strategy and ongoing professional portfolio management based on individual goals and financial situations through the JH Managed IRA. ³
About John Hancock Retirement Plan Services
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1My Money Connector is a data aggregation tool available to plan participants through the John Hancock Retirement Plan Services website. Participants using My Money Connector will be sharing their account information with a third-party service provider who will store the information for purposes of providing the aggregation service. My Money Connector is only reflective of the accounts that are linked.
2John Hancock Retirement Plan Services consists of John Hancock Life Insurance Company (
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John Hancock Life Insurance Company (
John Hancock Retirement Plan Services,
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