For immediate release / Boston / June 28, 2018
John Hancock Recognized for Innovation in Financial Education
Company offers digital financial literacy tools to its retirement plan participants and their families and through its teen programs
BOSTON, June 28, 2018 - John Hancock was honored with the 2018 Financial Capability Innovation Award presented by the nation’s leading educational technology innovator, EVERFI, Inc. The award recognizes John Hancock's significant efforts to improve the financial capability of Americans through unique digital learning initiatives.
While providing an array of financial wellness benefits, John Hancock received this award for its online financial education platform, My Learning Center, offered to all John Hancock retirement plan participants and their families; and the company’s work to increase financial literacy among teens through its Michigan Scholars and MLK Scholars programs.
Honorees are selected based on a set of criteria that included the scale and reach of their financial education initiatives, the scale of their commitment, and unique employee volunteering activities that supplement their programs.
“Each year, we honor institutions that are truly dedicated to going above and beyond in service to their communities,” said Ray Martinez, EVERFI President of Financial Education. “The Financial Capability Innovation Awards have given us the opportunity to share and celebrate the tremendous investment these institutions are making and continue to make in the communities where they live, work, and serve. For EVERFI, our time here reminds us just how critical the role innovation continues to play in empowering Americans to pursue economic opportunity and achieve financial security for themselves, their families, and their community.”
Improving Financial Literacy in Retirement Plan Participants and Their Families
John Hancock has enhanced its retirement plan participant education program with My Learning Center, a mobile- and tablet-responsive program offering digital education focused on core financial competency. Since 2016 when it was introduced, thousands of participants have consulted its educational content, on subjects ranging from managing credit card debt and identity protection, to estate planning, with more than 20 distinct modules, offered in both English and Spanish, that employ video, animation, and gaming to engage and ultimately reward participants for taking control of their financial future.
In addition, John Hancock also offers educational programs to family members of its participants, through My Learning Center with courses specifically designed to be appropriate for various age groups, from elementary school to college students and adults.
“We’re committed to financial wellness broadly and very pleased with the award and how well-received My Learning Center has been,” said Patrick Murphy, CEO of John Hancock Retirement Plan Services. “Financial literacy allows individuals to lead more confident and fulfilled lives today while improving their ability to plan for a secure retirement in the future. Financial education is a core component of our financial wellness process that enables participants to use our tools and services more effectively and focuses on enabling better decision-making and making individuals’ lives better. We’re particularly proud that My Learning Center is available not only to retirement plan participants, but to their families as well, so we could engage the entire family.”
Helping Teens Get a Head Start with Financial Literacy
John Hancock has also partnered with EVERFI to bring The Michigan Scholars Program to Michigan students at no cost to schools or taxpayers and has reached 146 Michigan schools and over 8,000 students since 2014. John Hancock also partners with EVERFI to deliver financial education to Boston youth participating in the MLK Scholars Program, reaching over 1,700 youth since 2015. These web-based financial education programs use the latest in simulation and gaming technologies to bring complex financial concepts to life for today’s digital generation
“We are proud to partner with EVERFI to provide important financial literacy tools to young people and give them a good foundation for financial success in the future,” said Thomas Crohan, AVP and counsel, John Hancock Corporate Responsibility & Government Relations. “John Hancock believes incorporating tools like this in programs like ours can make a difference in creating equity in our communities.”
EVERFI, Inc. is the education technology innovator that empowers K-12, higher education, and adult learners with the skills needed to be successful in life. The company teams with major corporations and foundations to provide the programs at no cost to K-12 schools. Some of America’s leading CEOs and venture capital firms are EVERFI investors including Amazon founder and CEO Jeff Bezos, Twitter founder Evan Williams, and Google Chairman Eric Schmidt. Learn more at everfi.com.
About John Hancock Retirement Plan Services
As of December 31, 2017, John Hancock Retirement Plan Services serviced over 57,000 plans with over 2.8 million participants and $164 billion in FUM Assets.
About John Hancock and Manulife
John Hancock is a division of Manulife Financial Corporation, a leading international financial services group that helps people make their decisions easier and lives better. We operate primarily as John Hancock in the United States, and Manulife elsewhere. We provide financial advice, insurance and wealth and asset management solutions for individuals, groups and institutions. Assets under management and administration by Manulife and its subsidiaries were over $1.1 trillion (US$850 billion) as of March 31, 2018. Manulife Financial Corporation trades as MFC on the TSX, NYSE, and PSE, and under 945 on the SEHK. Manulife can be found at manulife.com.
One of the largest life insurers in the United States, John Hancock supports approximately 10.7 million Americans with a broad range of financial products, including life insurance, annuities, investments, 401(k) plans, and college savings plans. We also offer advice through Signator, a network of independent financial advisors. Additional information about John Hancock may be found at johnhancock.com.
1John Hancock Retirement Plan Services consists of John Hancock Life Insurance Company (U.S.A.) (not licensed in New York), John Hancock Life Insurance Company of New York (licensed in New York), Valhalla, New York and John Hancock Retirement Plan Services, LLC. Approximate unaudited figures for John Hancock Retirement Plan Services division, provided on a U.S. statutory basis.
John Hancock Life Insurance Company (U.S.A.) (John Hancock USA), John Hancock Life Insurance Company of New York (John Hancock New York), and John Hancock Retirement Plan Services, LLC are collectively referred to as "John Hancock".