John Hancock plans to launch by the fourth quarter of 2007 a new rollover program called Retirement Income & Rollover Solutions (RIRS) for use by participants in the 401(k) plans run by its Retirement Plan Services (RPS) unit. The company will allow plan participants to roll over their retirement money into Hancock mutual funds, including its popular Lifecycle and Lifestyle portfolios, using a licensed call center and a dedicated Web site. The general manager of RIRS, David Longfritz, said the program will also allow advisors to "focus on the high net worth participants, while we will take care of the other participants who advisors may not be able to work with directly."
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Hancock Developing 401(k) Rollover Program
July 12, 2007 at 08:00 PM
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RPS has more than $48.4 billion in funds under management in the 401(k) plans it manages.
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