John Hancock shifts to cash balance plan, adds investment funds to its 401(k) plan

Abstract

A competitive total compensation package with comprehensive benefit plans is important to John Hancock Financial Services, as it tries to distinguish itself as a good place to work. A new cash balance plan and new investment options in its 401(k) plan are among the changes John Hancock recently made to the retirement side of its benefits package. The company is constantly reassessing its benefits programs in order to keep them both cost effective and excellent.