John Hancock Announces Comprehensive Roth 401k Education Campaign
BOSTON, MA, October 12, 2005 -- John Hancock Retirement Plan Services has launched a comprehensive educational campaign to help advisors, TPAs, plan sponsors and participants understand Roth 401k plans and their benefits before the plans become available to consumers for the first time on January 1, 2006.
The campaign, called Be Ready: The Roth 401k Education Campaign, will include an overview brochure, implementation advice, education materials for advisors, plan sponsors, and participants, and a credit-earning CE course for advisors, with information available in print and online.
John Hancock's Be Ready campaign is premised on providing must-know information and encouraging fact-based decisions. "One of the greatest challenges that plan sponsors face is how to avoid participant confusion, which can lead to participant anxiety or inertia, and how to position the Roth 401k as a viable option for a range of participants, not just high-income earners," said Susan Bellingham, Senior Vice President of Marketing Development, Retirement Plan Services. "If participants are well educated on the Roth 401k and its tax advantages, some may increase their elective deferrals and save more for retirement, which will help them in the long run."
John Hancock's educational campaign is the culmination of months of research and preparation, in which different audiences' needs were assessed. Be Ready: The Roth 401k Education Campaign will respond to the most pressing questions:
- What participant groups are most likely to benefit from the Roth 401k?
- How should plan sponsors evaluate the Roth 401k and assess its potential and costs?
- What is the most efficient route to implementing the Roth 401k?
- What procedural and reporting modifications must TPAs make in preparation for the Roth 401k?
- What are the specific issues, from participant enrollment to testing, that advisors and plan sponsors must be cognizant of?
- How can advisors proactively bring objective information and future-ready answers to plan sponsors and participants?
"The Be Ready campaign recognizes that many plan sponsors will increasingly look at the Roth 401k as the start date approaches and turn to their financial representatives and TPAs for guidance. John Hancock's education program aims to accelerate the learning process for financial representatives by providing clear information and implementation steps," said Jim Brockelman, Senior Vice President of Distribution, John Hancock Retirement Plan Services. "The Be Ready campaign helps financial representatives proactively help plan sponsors."
The campaign will be rolled out throughout the rest of the year and into 2006 as additional IRS guidelines are announced. It is part of John Hancock's long-term commitment to help its business partners and clients stay on top of the evolving Roth 401k legislation. More information on Be Ready: The Roth 401k Education Campaign can be found at John Hancock s web sites (add URLS).
About John Hancock Retirement Plan Services
John Hancock Retirement Plan Services (previously Manulife) has been in the qualified retirement plan markets since the 1980s and has become the #1 Full Service provider to 401k (2005 CFO Magazine 401k Buyers Guide Study July 2005). "Full-service" denotes providers, including banks, insurance and mutual fund companies offering both recordkeeping and investments, as defined by CFO magazine: plans managed and asset growth based on plans inforce at December 31, 2004 (published July 2004).
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