Insurance Agency
John Hancock Retirement Plan Services , LLCThis business is NOT BBB Accredited.
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Complaints
This profile includes complaints for John Hancock Retirement Plan Services , LLC's headquarters and its corporate-owned locations. To view all corporate locations, see
Customer Complaints Summary
- 34 total complaints in the last 3 years.
- 21 complaints closed in the last 12 months.
If you've experienced an issue
Submit a ComplaintThe complaint text that is displayed might not represent all complaints filed with BBB. Some consumers may elect to not publish the details of their complaints, some complaints may not meet BBB's standards for publication, or BBB may display a portion of complaints when a high volume is received for a particular business.
Initial Complaint
Date:03/14/2025
Type:Order IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Date: March 3, 2025 **** ******** cannot legally hold my retirement funds whereby I made changes by a written instrument to 100% rollover 401K and **** into my new employer's retirement.**** Hancock is requiring my new employer to to sign off and approve the roll over distribution of my former employer. It was not good enough for **** Hancock to have my signature authorizing the fund transfer they required my new employer to authorize my request just to get the check made payable from **** Hancock to Ascensus Trust FBO ******* ******* Its illegal what **** Hancock is doing as they require a third party beyond my signature to handle my 401 K and **** from my former employer.Business Response
Date: 03/17/2025
A representative will contact this customer to help with these concerns.Initial Complaint
Date:02/05/2025
Type:Order IssuesStatus:UnresolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
**** Hancock Retirement Services is deliberately making 401(k) rollovers difficult by refusing electronic transfers (ACH or wire) and forcing participants to accept paper checks. *****, they wont even send the check directly to the new provider, creating unnecessary delays, increasing the risk of lost checks, mail issues, and automatic tax withholding. This isnt just outdatedits a deliberate tactic to discourage rollovers and trap peoples money under their management.Most major 401(k) providers allow seamless electronic rollovers because its the industry standard. **** Hancocks refusal to do so is a clear attempt to create roadblocks and make it as inconvenient as possible for participants to access their own retirement savings. They benefit by making the process so frustrating that people delay or abandon rollovers, allowing **** Hancock to continue collecting fees on their accounts. This practice is deceptive, financially harmful, and raises serious concerns about compliance with ***** ************** only offering paper checks and refusing to mail them directly to new providers, **** Hancock is increasing the likelihood that participants will miss the 60-day rollover window, triggering unnecessary tax withholdings and penalties. Their policies do nothing to benefit account holdersthey only serve **** Hancocks interests.**** Hancock needs to stop these obstructive tactics and offer direct electronic rollovers and check mailing to new providers. If they continue making it unnecessarily difficult to move my own money, I will escalate this to the ************************ and financial regulators for further investigation into their deceptive business practices. Retirement funds belong to the participants, not **** Hancock, and their restrictive policies should not be allowed to continue.Business Response
Date: 02/06/2025
A representative will contact the customer to address these concerns.Customer Answer
Date: 02/10/2025
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
The business needs to contact me directly via email or schedule a meeting like a normal business would. They called once in the middle of a work day. Until we communicate directly and have this resolved I will not accept their answer.
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,*******
Business Response
Date: 02/11/2025
Our representative will call the customer today after 7 PM CST.Customer Answer
Date: 02/11/2025
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
I am following up on my complaint against **** Hancock regarding their refusal to engage in transparent, scheduled communication and their insistence on only issuing a paper check as the disbursement method.
I explicitly requested that all communication take place via email, ************************* or through a scheduled meeting to ensure a clear paper trail. Instead, **** Hancock continues to ignore this request by attempting to call me after hours rather than scheduling a proper discussion. This is not an acceptable or professional way to handle a financial matter of this nature.
More importantly, **** Hancock is unreasonably restricting the disbursement of my assets to a paper check, despite modern financial practices offering multiple secure and efficient alternatives, such as direct deposit or wire transfer. Their refusal to provide these options appears to be a deliberate tactic to retain control over client assets by creating unnecessary delays and complications. As a financial institution, they regularly facilitate electronic transactions, so this restriction is not justified.
I request that the BBB formally address these issues and ensure that **** Hancock:
1. Respects my request for email communication or a scheduled meeting to ensure transparency.
2. Provides reasonable alternative disbursement methods instead of limiting me to an outdated paper check process.
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,*******
Initial Complaint
Date:02/01/2025
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I had a small retirement account sponsored by ****** . I NEVER received statements!!!! The unit number was not listed on my address! All of a sudden there is a zero balance because of fees. I DID NOT receive any correspondence of this. I would not have left my money in an account to lose it all! This is Theft!!!!Business Response
Date: 02/03/2025
A representative will contact this customer to help resolve the issue.Initial Complaint
Date:01/22/2025
Type:Product IssuesStatus:UnresolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been trying to roll over my 401k plan to the new company my job switched to. I have called and emailed attempting to get a check with my funds and I have been given the run around trying to get it. I need my money to put into my new 401k plan with a different company. The website is down or the emails get rejected with no response. This should not be so difficult.Business Response
Date: 01/23/2025
A representative will contact this customer to help resolve this issue.Customer Answer
Date: 01/23/2025
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
I have not heard back from the company. I still do not have my check for my 401k.
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,*****
Business Response
Date: 01/30/2025
Our representative ****** spoke with the customer recently to help resolve this issue. The customer can contact ****** with any follow-up questions.Customer Answer
Date: 02/03/2025
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
I am still waiting on any paperwork or my check to be mailed to me. This didn't resolve the issue. It has been a month trying to get this resolved.
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,*****
Initial Complaint
Date:01/22/2025
Type:Service or Repair IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
**** Hancock retirement services continues to deny requests for hardship to withdraw money from my 401k account. After submitting documentation they then informed that a loan was required to withdraw money prior to withdrawing for a hardship. I then submitted the paperwork for the loan. After 1 iteration of questions and document requests from them I was then informed to provide the same documentation. I was informed to provide the documentation of a fully executed sales agreement for my mortgage to which the loan was for the closing costs. The money is to be utilized for closing on a home. Therefore a fully executed agreement can not be obtained. I was then put into a general loan which requires no documentation as per **** Hancock. They they requested more documentation, the same documentation for the loan. After faxing the documentation multiple times, they still are not providing the loan. They then asked for a marital application for the first time, which has never been provided for to fill out. I have asked to speak to supervisors multiple times to only get 1 supervision return a phone call late at night after 9 pm leaving a voicemail. This business is making it impossible to obtain and type of funding from my own account after jumping through multiple hoops.Business Response
Date: 01/23/2025
Our representative will contact this customer to help resolve the issue.Initial Complaint
Date:01/22/2025
Type:Billing IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have been requesting to rollover my account from this company for 2 years now. I have called numerous times to complete the transaction, yet anytime they get to the end of the call and transaction, I am met with " Sorry it did not go through. There is no confirmation. Please call again later." This has been going on for a while now. I get this lingo and hurdles of getting into my account, ********** then asked to call again later and start over. Meanwhile, this company continues to take fees out of my account. My account doesn't/didn't have a whole lot in it to begin with but I still worked and earned this money, and they are bluntly STEALING IT!Business Response
Date: 01/27/2025
We need more in formation from the customer to investigate further .
Allspring Govt Money Market A (WFGXX)
Initial Complaint
Date:12/27/2024
Type:Service or Repair IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
Nov. - Dec. 2024 This is my *****'s 401k distributor **** Hancock. We are closing on our first house, approved for a withdrawal hardship, followed all steps in completing the documents and submitting via fax as requested. We followed-up twice a day to be told not all the pages were received, to being approved, to being rejected, to the system is down, and many more tedious responses. There has been over 5 attempts, which resulted to emailing but only to a general email that the representatives cannot access, therefore no one sees the emails. We have missed the closing date, and still experiencing unforeseen challenges with **** Hancock. We are under the impression they do not want to honor the hardship and wont tell us. We go back and forth every day. It is very stressful. We cannot escalate the call to a higher representative or person of authority to explain the real problem because they do not accept phone calls. Where do we go from here?Business Response
Date: 12/30/2024
Our representative will contact this customer to help resolve this issue.Customer Answer
Date: 12/30/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
****** ******Initial Complaint
Date:12/27/2024
Type:Service or Repair IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have tried to get a hold lifted from my retirement account for weeks now. I have overnight paperwork with a notary on it and the company fails to review and release the hold so I can withdraw the money in the account. I have been lied to by most of the representatives especially thought in the *********** who are completely clueless about how to handle the case. They have been lied to so many times. Everyday I told the hold will be lifted and the paperwork hasnt been processed or reviewed. Why does **** Hancock lie to their participants. I want my funds released. I am being played and lied to by all the representatives. It is December 27th and after two months, I still do not have answers.Business Response
Date: 12/30/2024
Our representative will contact this customer to help resolve the issue and process the request.Customer Answer
Date: 01/06/2025
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
**** ******Initial Complaint
Date:10/30/2024
Type:Billing IssuesStatus:ResolvedMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I have a 401k account from my previous employer, **** Hancock had made errors I my account they had errors on my social security number. I submitted the correct information to them and they claim to have found the account but it's empty. I worked for Malnove of ******* for over a year from *********. I actively added to my 401k account and even have mail account statements from **** Hancock but when I call they don't acknowledge it.Business Response
Date: 10/31/2024
Our representative will contact this customer to resolve this issue.Customer Answer
Date: 10/31/2024
[A default letter is provided here which indicates your acceptance of the business's response. If you wish, you may update it before sending it.]
Better Business Bureau:
I have reviewed the response submitted by the business and have determined that the response does satisfy my issues and/or concerns in reference to complaint #********. I understand that by choosing to accept the business response that my complaint will be closed as resolved.
Regards,
******* *****Initial Complaint
Date:10/23/2024
Type:Product IssuesStatus:AnsweredMore info
Complaint statuses
- Resolved:
- The complainant verified the issue was resolved to their satisfaction.
- Unresolved:
- The business responded to the dispute but failed to make a good faith effort to resolve it.
- Answered:
- The business addressed the issues within the complaint, but the consumer either a) did not accept the response, OR b) did not notify BBB as to their satisfaction.
- Unanswered:
- The business failed to respond to the dispute.
- Unpursuable:
- BBB is unable to locate the business.
I attempted to withdraw money in a **** from a former employer a couple months ago. Filled out the paper work and nothing happened. Contacted ** and was told an administrator, not with them or my previous employer, had to respond and that I was going to have to fill out the forms again because they expired, but there was nothing they could do on their side to get my money out?? Then I was informed the company was being sold so I couldn't do anything for a while. I was then sent forms from my previous employer to fill out and send to a name I was given at JH. When I checked on my account the money was gone. Called JH and was given the run around and finally a lady told me it went to a different company. I told her I filled out paperwork so that wouldn't happen and it would come to me. She told me in a snotty tone that they never received it. I said bs I am looking at the email and the date it was sent. She hung up on meBusiness Response
Date: 10/24/2024
Our representative will contact the customer to address this issue.Customer Answer
Date: 10/24/2024
Better Business Bureau:I have reviewed the response submitted by the business and have determined that the response does not satisfy or resolve my issues and/or concerns in reference to complaint # ********. Please add your rejection comments below; if you do not provide any details, your complaint will be closed as Answered.
[You must provide details of why you are not satisfied with this resolution. If you do not enter a reason for your rejection, your complaint will be closed as Answered.]
Businesses and Customers should be civil, courteous and polite in their responses to complaints. It is important to remain professional and productive when participating in the BBB complaint process.
FAQ
Regards,****
John Hancock Retirement Plan Services , LLC is NOT a BBB Accredited Business.
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