The ticker symbols shown are for the underlying mutual fund, collective trusts or ETFs in which sub-accounts are invested. Fees and expenses are only one of several factors that you should consider when making investment decisions. For these services, John Hancock and its affiliates receive additional fees which are included in the underlying fund expense ratio (i.e. Past performance is no guarantee of future results.Morningstar assigns categories by placing funds into peer groups based on their underlying holdings. Asset class/Investment style : Asset class refers to the broad category of investments the portfolio, or underlying fund, currently holds. ***Morningstar Portfolio Ratings All Morningstar data is 2023 by Morningstar, Inc. All rights reserved. For further details on these fees and certain risks that may apply please refer to the Offering Memorandum. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. As a result of this review, or if requested by a fund company, additional restrictions may be imposed on a participant's retirement account, including but not limited to:Applying redemption fees and/or trade restrictions as requested by the underlying fund manager. For the avoidance of doubt, Competing Investment Option will not include any self-directed brokerage account, or any investment option made available through a self-directed brokerage account. Tableofcontents 2 Your fund at a glance 4 Management's discussion of fund performance 6 A look at performance 8 Your expenses 10 Fund's investments 13 Financial statements 16 Financial highlights 21 Notes to financial statements 29 Report of independent registered public accounting firm 30 Tax information 31 Shareholder meeting 32 Evaluation of advisory and subadvisory agreements by the . A.M. Best RatingAM Best's methodologies for rating is a comprehensive overview of the credit rating process, which consists of quantitative and qualitative evaluations of balance sheet strength, operating performance, business profile, and enterprise risk management.Fitch RatingsThe terms investment grade and speculative grade have established themselves over time as shorthand to describe the categories AAA to BBB (investment grade) and BB to D (speculative grade). Contributions under a group annuity contract issued by John Hancock Life Insurance Company (U.S.A.) (John Hancock USA) are allocated to investment options which: (a) invest solely in shares of an underlying mutual fund, collective trust, or ETF; (b) invest in a combination of these; or (c) are Guaranteed Interest Accounts and which will be held in the John Hancock USA general account. NOT FDIC INSURED. Returns shown reflect the Expense Ratio of the sub-account. In the event John Hancock is able to earn more than the crediting rate and the expense of operating the fund, John Hancock will keep that difference as its compensation. Because of their focus on bonds with very short durations, these portfolios offer minimal interest-rate sensitivity and therefore low risk and total return potential. The underlying securities in each portfolio are the primary factor Morningstar uses as the investment objective and investment strategy stated in a funds prospectus may not be sufficiently detailed for our proprietary classification methodology. The fixed income portfolios selected for . Performance does not reflect any applicable contract-level or certain participant-level charges. From time to time, changes are made to Funds, and the availability of these changes may be subject to State approvals or other compliance requirements. Examples of business or market sectors where this risk may be particularly high include: a) technology-related businesses, including Internet-related businesses, b) small-cap securities and c) foreign securities. Investment grade categories indicate relatively low to moderate credit risk, while ratings in the speculative categories either signal a higher level of credit risk or that a default has already occurred.S&PCredit ratings of AA- or better are considered to be high credit quality; credit ratings of BBB- are good credit quality and the lowest category of investment grade; credit ratings BB+ and below are lower-rated securities (junk bonds); and credit ratings of CCC+ or below have high default risk. The effect of short-term trading may disrupt or be potentially disruptive to the management of the fund underlying an investment option and may thereby adversely impact the underlying funds performance, either by impacting fund management practices or by increasing fund transaction costs. Performance does not reflect any applicable contract-level or participant-level charges, fees for guaranteed benefits if elected by participant, or any redemption fees imposed by an underlying mutual fund, collective trust or ETF. Seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. The total revenue John Hancock receives on this Fund is higher than those advised or sub-advised exclusively by unaffiliated entities. Please call 800-395-1113 to obtain the Fund Sheet for the group annuity investment option sub-accounts and/or to obtain a prospectus (or Offering Memorandum/Trust Document) for the sub-accounts' underlying fund, that are available on request. 166. Consult your John Hancock representative for details. Consult your John Hancock representative for details. Ratings are a comprehensive measure of financial strength. The statements in this letter represent the views of the Division of Investment Management. The highest speculative-grade rating is Ba1. Asset class/Investment style : Asset class refers to the broad category of investments the portfolio, or underlying fund, currently holds. Withdrawals for plan distributions, loans, hardship withdrawals, and transfers to other investments will be paid at full value. All other performance data is actual (except as otherwise indicated). We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Crediting Rate is set on January 1 and July 1 of each year. Returns shown reflect the Expense Ratio of the sub-account. The lowest investment-grade rating is Baa3. For further details, please refer to the Offering Circular and Declaration of Trust. "Underlying fund" or "fund" refers to the underlying mutual fund, collective trust, or exchanged traded fund ("ETF") in which the investment option invests.The FER is determined by the underlying fund and may be subject to fluctuation. Returns for any period greater than one year are annualized. **A funds investment objectives, risks, charges, and expenses should be considered carefully before investing. These impacts are absorbed by other fund investors, including retirement plan participants. A Separate Account or a portfolio related to other benefit responsive contracts may invest in asset-backed securities. Morningstar data is 2023 by Morningstar, Inc. All rights reserved. If the sub-account inception date is after December 8, 2014, then the Signature Menu introduction date is the same as the sub-account inception date. A.M. Best RatingAM Best's methodologies for rating is a comprehensive overview of the credit rating process, which consists of quantitative and qualitative evaluations of balance sheet strength, operating performance, business profile, and enterprise risk management.Fitch RatingsThe terms investment grade and speculative grade have established themselves over time as shorthand to describe the categories AAA to BBB (investment grade) and BB to D (speculative grade). The prospectuses (or Offering Memorandum/Trust Documents) for the sub-accounts underlying funds contain complete details on investment objectives, risks, fees, charges and expenses as well as other information about the underlying funds which should be carefully considered before investing. Due to abnormal market conditions or redemption activity the fund may temporarily invest in cash and cash equivalents. Neither John Hancock USA nor the Trustee guarantees the performance of the Stability Provider(s). Any change in the FER of an underlying fund will affect the Expense Ratio of the investment option which invests in the underlying fund.The ER applies daily at a rate equivalent to the annual rate shown, and may vary to reflect changes in the expenses of an underlying fund and other factors.For Expense Ratio information current as of the most recent quarter end, please refer to the monthly Return and Fees listing available from John Hancock upon request. Any difference between the Portfolios market value and book value will be taken into consideration when setting future crediting rates.For further details regarding risk and other risks that may apply please refer to the Offering Memorandum. For more details, see Risk Disclosures section of this booklet. You want a fund where the primary objective is the preservation of capital, You want principal protection and steady returns regardless of the market environment, You want the security of an account value guaranteed by John Hancock. The lowest investment-grade rating is Baa3. Actively managed investments are subject to the risk that the investment managers usage of investment techniques and risk analysis to make investment decisions fails to perform as expected, which may cause the relevant portfolio to lose money or underperform investments with similar objectives and strategies or the market in general. These impacts are absorbed by other fund investors, including retirement plan participants. For more information or to order prospectuses for the underlying investments, call 800-395-1113 and speak to a client account representative. Fund0.611.832.462.702.843.11--Performance is based on the historical crediting rates applied to balances on deposit in this plan'sstable value investment option and is net of total fees. Plans that select the Fund may not select any "competing fund" in their plan. Unless your plan sponsor has elected the Market Value Recovery feature, there are no stated fees for investing in this fund. MAY LOSE VALUE. They're exempt from many of the regulatory requirements that drive mutual fund expenses, generally giving them a fee advantage over mutual funds. This investment option is deemed a 'Competing' investment option with the Reliance Trust New York Life Anchor Account and may not be available if the Reliance Trust New York Life Anchor Account is selected. Although there can be no assurances that all risks can be eliminated, John Hancock as manager of the underlying funds will use its best efforts to manage and minimize such risks and costs. Performance data reflects changes in the prices of a sub-account's investments (including the shares of an underlying mutual fund, collective trust, or ETF), reinvestment of dividends and capital gains and deductions for the sub-account charges.The performance data presented represents past performance. Standard Deviation is defined by Morningstar as a statistical measurement of dispersion about an average, which, for an underlying fund, depicts how widely the returns varied over a certain period of time.The placement of each investment option's risk/return category is subject to change. Fund Expense Ratio or FER). Sub-Account Inception Date: May 14, 2004 Underlying fund Inception Date: May 8, 2006. The trustee of a stable value fund and/or the manager or sponsor of the underlying investments of a stable value fund typically endeavor to maintain one or more Stabilizing Agreements (also known as a Wrap Agreement) with Stability Provider(s) (also known as Wrap Providers) in an attempt to maintain the book value of the fund or the underlying investments. It is divided into two sections, investment grade and speculative grade. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. . Asset-backed securities include interests in pools of residential or commercial mortgages, debt securities, commercial or consumer loans, or other receivables. This information is not intended as investment advice and there can be no assurance that any investment option will achieve its objectives or experience less volatility than another. The fund expects that the use of Stabilizing Agreements will (when combined with any benefit responsive contracts and short-term investments held as underlying investments), under most circumstances, permit the fund to pay all withdrawals from the fund at book value. Seeks to provide steady and stable returns with liquidity and a guarantee of principal and interest. Prepayment Risk for Fixed Income. Past performance is no guarantee of future results. Interest Rate Risk for Fixed Income. Allocating assets to only one or a small number of the investment options (other than the Target Date Lifecycle or Target Risk Lifestyle options) should not be considered a balanced investment program. Investment style tells you whether the underlying fund invests in securities of companies that exhibit growth-style characteristics, such as above-average revenue and earnings growth, or in securities that exhibit value-style characteristics, such as shares considered to be underpriced in relation to fundamental measures such as revenues, earnings and assets. All Rights Reserved. Weightings - Applicable to only the Target Date (Lifecycle Portfolio) and Target Risk (Lifestyle Portfolios) Each Target Risk/Target Date Portfolio has a target percentage allocation designed to meet the investment objectives of a corresponding investment orientation. Withdrawals that are the result of plan sponsor actions may be subject to a market value adjustment or paid out in 5 installments over 60 months. For more information on a particular investment option, please refer to John Hancock USA's Fund sheets, available through the Web site or your John Hancock USA representative. Performance data for a sub-account for any period prior to the date introduced is shown in bold and is hypothetical based on the performance of the underlying fund. This investment option is deemed a 'Competing' investment option with John Hancock Stable Value Guaranteed Income Fund and may not be available. It is made up of John Hancock's (i) "Revenue from Sub-account", and (ii) the expenses of the underlying fund (based on expense ratios reported in the most recent prospectuses available as of the date of printing; "FER"). "Underlying fund" includes the underlying mutual fund, collective trust, or ETF in which a sub-account invests. Principal risks include:merger and replacement, asset-backed security, market risk for Fixed Income, extension, John Hancock, investment grade, stablilizing agreement/wrap provider, risk of increase expenses, interest rate Fixed Income, manager risk for Fixed Income, credit and counterparty, prepayment and maturity/duration. All Rights Reserved. John Hancock conducts business in English. The risk that John Hancock will default on its obligations under the contract or that other events could render the contract invalid. Please call 800-395-1113 to obtain the Fund Sheet for the group annuity investment option sub-accounts and/or to obtain a prospectus (or Offering Memorandum/Trust Document) for the sub-accounts' underlying fund, that are available on request. The fund's primary investment objectives are to preserve principal, maintain a competitive . John Hancock Stable Value Fund: Qualified retirement plans that select the John Hancock Stable Value Fund as an eligible investment option under the group annuity contract are restricted from selecting any fixed-income investment options for the plan deemed to be 'Competing', including (i) any book value fixed income Fund, (ii) any other fixed income Fund with a targeted average duration of two (2) years or less, including but not limited to, a money market Fund or a short-term bond Fund, or (iii) any guaranteed interest account (other than a ten (10) year maturity guaranteed interest account maintained by an affiliate of John Hancock Life Insurance Company (U.S.A.) originally offered prior to May 1, 2006). Requests may be cancelled if not within our guidelines.Participants are allowed a maximum of two exchanges per calendar month. S&PCredit ratings of AA- or better are considered to be high credit quality; credit ratings of BBB- are good credit quality and the lowest category of investment grade; credit ratings BB+ and below are lower-rated securities (junk bonds); and credit ratings of CCC+ or below have high default risk. "John Hancock Stable Value Guaranteed Income Fund provides an option to retirement . Due to abnormal market conditions or redemption activity the fund may temporarily invest in cash and cash equivalents. These financial statements are the responsibility of the Plan's management. Fund Expense Ratio or FER). The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.Moody's The rating scale, running from a high of Aaa to a low of C, comprises 21 notches. Issuer Risk for Guaranteed Fund. NOTE F - NEW YORK LIFE STABLE VALUE FUND . The ticker symbols shown are for the underlying mutual fund, collective trusts or ETFs in which sub-accounts are invested. The John Hancock Stable Value Fund is invested primarily in benefit responsive contracts issued by state regulated insurance companies and banks, including but not limited to John Hancock Life & Health Insurance Company. The rate is generally guaranteed for six months. Timely payment under unsecured fixed income securities is dependent entirely upon the performance of the issuer, guarantor or counterparty. Performance data reflects changes in the prices of a sub-account's investments (including the shares of an underlying mutual fund, collective trust, or ETF), reinvestment of dividends and capital gains and deductions for the sub-account charges.The performance data presented represents past performance. The actual market value of the underlying assets may, at times, be greater than or less than the book value of the Fund. ****Expense Ratio (ER) This material shows expenses for a specific unit class for investment options available under a John Hancock group annuity contract. John Hancock Life Insurance Company has a more than 30-year track record of backing guaranteed interest contracts and has been a stable value asset manager since 2006, with total stable value assets under management above $2.7 billion with over 12,000 plans 1. This category can include corporate or government ultrashort bond portfolios, but it excludes international, convertible, multisector, and high yield bond portfolios. Although gathered from reliable sources, the information is not represented or warranted by Morningstar to be accurate, correct, complete or timely. For these services, John Hancock and its affiliates receive additional fees which are included in the underlying fund expense ratio (i.e. The John Hancock Stable Value Fund is a collective investment trust that invests in diversified fixed-income mutual funds and contract value stabilizing agreements. However, if the book value of the Fund exceeds the market value of underlying securities, the stabilizing agreements provide that the payment of certain withdrawals may be delayed for up to 12 months unless the plan or the participant requesting the withdrawal elects to accept such payment subject to a market value adjustment. The underlying fund company has not reviewed the sub-accounts performance. Categories may be changed based on recent changes to the portfolio. Redemption fees or market value adjustments associated with exchanges from particular investment options are described on applicable fund sheets, which are available online. Performance information current to the most recent month-end is available on our website myplan.johnhancock.com. The total revenue John Hancock and its affiliates receive from a fund advised or subadvised by John Hancock affiliates is higher than those advised or subadvised exclusively by unaffiliated entities. As interest rates decline, the issuers of certain fixed income securities, including asset-backed securities, may prepay principal earlier than scheduled, forcing the applicable portfolio manager to reinvest in potentially lower yielding securities. Date sub-account or Guaranteed Interest Account first available under group annuity contract.This class was introduced February 23, 2007. 1A. 1 Stable value funds have a low sensitivity to interest-rate changes These charges, if included, would otherwise reduce the total return for a participant's account. In particular, allocating assets to a small number of options concentrated in particular business or market sectors will subject your account to increased risk and volatility. p45. AThe amounts displayed below represent the gross and net expense ratios of the underlying fund in which the sub-account invests. For further details regarding risk and other risks that may apply please refer to the John Hancock Stable Value Guaranteed Income Fund Product Guide. Our responsibility is to express an opinion on these financial statements based on our audits. All performance calculations shown have been prepared solely by John Hancock USA. The Fund will be launched on John Hancock's Signature Platform next year. From time to time, changes are made to Funds, and the availability of these changes may be subject to State approvals or other compliance requirements. John Hancock does not provide advice regarding appropriate investment allocations. No outcome establish. Please change your search terms and try new. The fund invests a portion of its assets (including cash and cash equivalents) in a separate account of John Hancock Life & Health Insurance Company (JHLH). Past performance is not a guarantee of future results. Generally, fixed income investments will decrease in value when interest rates rise (and increase in value when interest rates fall). Funds are placed in a category based on their portfolio statistics and compositions over the past three years. If a 10 year Standard Deviation is not available for a Morningstar Category, then the 5 year Standard Deviation of the underlying fund's Morningstar Category is used to determine the Fund's risk category. Investment grade categories indicate relatively low to moderate credit risk, while ratings in the speculative categories either signal a higher level of credit risk or that a default has already occurred.S&PCredit ratings of AA- or better are considered to be high credit quality; credit ratings of BBB- are good credit quality and the lowest category of investment grade; credit ratings BB+ and below are lower-rated securities (junk bonds); and credit ratings of CCC+ or below have high default risk. Index performance shown is for a broad-based securities market index. MetLife says that more than eight in 10 defined contribution plan sponsors offer stable value funds as an option to preserve capital, and retirement savers would do well to consider adding this asset class to the mix if it's not already part of their portfolio. Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York). Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. For current ratings, please visit www.johnhancock.com/who-we-are.html and refer to the Fact Sheet. Because of their focus on bonds with very short durations, these portfolios offer minimal interest-rate sensitivity and therefore low risk and total return potential. The Expense Ratio ("ER") shown represents the total annual operating expenses for the investment options made available by John Hancock. For more information, please contact your financial representative. The transaction costs and potential market gains or losses could have an impact on the value of your investment in the affected fund and in the ''new'' fund, and such market gains or losses could also have an impact on the value of any existing investment that you or other investors may have in the ''new'' fund. Sub-Account Inception Date: July 24, 2020 Underlying fund Inception Date: July 24, 2020. John Hancock Stable Value Fund . If the insurer fails, the plan is left only with a claim against the issuer as a general creditor. Although gathered from reliable sources, the information is not represented or warranted by Morningstar to be accurate, correct, complete or timely. Stable Value Portfolio, which seeks to maintain stability of principal and maximize current income, joined John Hancock Freedom 529 education savings plan's lineup of investment options on December 1, 2022. For the protection of the participants, account changes are subject to the following short-term trading guidelines when exchanging investment options under your company's qualified retirement plan account with John Hancock. Index returns were prepared using Morningstar Direct. Analysis of performance and other indicative facts are also considered. Index Performance: With respect to the Funds that display an index performance. The current crediting rate is guaranteed only until the next rate reset date; crediting rates in future periods may be higher or lower, but in no case less than 1%. The fixed income portfolios. New York Life maintains the Plan's contributions in a separate account. Any difference between the market value and book value will be taken into consideration when setting future crediting rates. Allocating assets to only one or a small number of the investment options (other than an asset allocation investment option such as a target date or target risk option) should not be considered a balanced investment program. You want to preserve capital as your primary objective, You want an investment that has a low correlation to equities, You want returns similar to medium-term bond funds with less volatility, You want an investment option that provides liquidity and is generally accessible for withdrawals by participants at book value, You want the added security of an account value that is guaranteed by third parties. The ticker symbols do not directly apply to the John Hancock sub-account and therefore any public information accessed using these symbols will not reflect the unit value of the subaccount, nor will such information reflect sub-account, contract-level or participant-level charges under your plan's group annuity contract. The highest speculative-grade rating is Ba1. Performance data reflects changes in the prices of a sub-account's investments (including the shares of an underlying fund), reinvestment of dividends and capital gains and deductions for the Expense Ratio (ER). You can visit the Employee Benefit Security Administration's Web site for an example demonstrating the long-term effect of fees and expenses. The risk category in which a Fund is placed is determined based on where the 10 year Standard Deviation (defined below) of the underlying fund's Morningstar Category falls on the following scale: if the 10 year Standard Deviation of the underlying fund's Morningstar Category is 15.00 or higher, the Fund is classified as "Aggressive;" between 13.00 and 14.99 as "Growth;" between 7.00 and 12.99 as "Growth & Income;" between 2.00 and 6.99 as "Income;" and 1.99 and below as "Conservative." The performance of an Index does not include any portfolio or insurance-related charges. The fund is not a mutual fund and is privately offered. All rights reserved. See important note (52) for more details. John Hancock is obligated to pay the guaranteed crediting rate for each rate period. The interest rate is declared in advance of the semiannual rate reset period. For further details, please refer to the Offering Statement and Declaration of Trust. Morningstar ratings are applicable to the underlying only and reflect historical risk-adjusted performance as of the most recent calendar quarter-end. The underlying fund company has not reviewed the sub-accounts performance. + When contributions are allocated to Funds under your employer's group annuity contract with John Hancock, they will be held in a sub-account (also referred to as "Fund"), which invests in shares of the specified underlying mutual fund, collective trust, ETF or a combination of these. 13. Withdrawals or transfers initiated by participants will generally be paid at book value, except where they are the result of plan sponsor actions. The indicated separate account is operated by John Hancock Life Insurance Company (U.S.A.), which has claimed an exclusion from the definition of the term 'Commodity Pool Operator' under the Commodity Exchange Act and, therefore, is not subject to registration or regulation as a pool operator under such Act. The John Hancock Stable Value Guaranteed Income Fund seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. NOT BANK GUARANTEED. 2023 John Hancock. Refer to the prospectus of the underlying fund for details.When calculating the Expense Ratio of the sub-account, the net expense ratio of the underlying fund is used. Contact your John Hancock representative if you wish to obtain a copy. Funds with scores in the top 10% of each category receive 5 stars (highest); the next 22.5%, 4 stars (above average); the next 35%, 3 stars (average); the next 22.5%, 2 stars (below average); and the bottom 10%, 1 star (lowest).
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