If you are a participant in a retirement plan, a representative in our Participant Service Center can help:
- Call 1-800-395-1113 if you have a numerical contact number or are calling about a 401(k) plan with under 200 employees.
- Call 1-800-294-3575 if you work for a company with more than 200 employees.
In this way, how do I cash out my John Hancock 401k?
You can call us at 1-800-344-1029 to enroll in telephone withdrawal authorization over the phone and elect to take a withdrawal. Representatives are available weekdays between 8 a.m. and 6 p.m. Eastern Time.
One may also ask, where can I find my John Hancock contract number?
How do I check my contract information online? Login to your account and click the “My Contract” tab on the left navigation menu. This will bring you to the Contract Details page which provides you with all the following information: Your present and past contract value and portfolio values.
How much should I have in my 401k to retire?
Your 401(k) will provide annual income (from age 66 to 95) of $19,986 which will cover 22% of your estimated retirement needs. We estimate you will need $90,532 a year to maintain your desired lifestyle in retirement. This 401(k) plan will leave you short $70,546.
Many retirement planners suggest the typical 401(k) portfolio generates an average annual return of 5% to 8% based on market conditions.
If your plan allows it, you may be able to borrow up to 50% of your vested balance—that’s 50% of the portion of your account that’s yours, without conditions. You’ll repay this amount, plus interest, back into your 401(k) account over time through payroll deduction.
It takes up to a week for your 401(k) withdrawal to process, and you could then get a direct deposit within one or two business days or wait longer for a check to come in the mail.
Eligibility for a Hardship Withdrawal
Certain medical expenses. Home-buying expenses for a principal residence. Up to 12 months’ worth of tuition and fees. Expenses to prevent being foreclosed on or evicted.
If you don’t know who your Primary Administrator is, call us: Group insurance clients: 800-621-6280.
- Click “Log In” at the top right corner of any Principal.com page.
- Enter your username and password.
- Click the “Log in” button.
- Follow any instructions provided.
Money type refers to who makes the contribution, and the type of contribution provided for under the terms of your plan (e.g. Employer match, Employee deferral).