Massachusetts › Finance and insurance › 5,000 to 24,999 participants
Form 5500 statement · plan year 1 Jan 2024 to 31 Dec 2024
John Hancock Pension Plan
Sponsored by The Manufacturers Investment Corporation, Boston, MA
Form 5500 information is as filed by the plan administrator with the Department of Labor and may be amended. Figures reflect the plan year shown, not current balances. Form 5500 contains no individual account balances. Look up the original filing at EFAST2.
In the plan year ending 31 Dec 2024, John Hancock Pension Plan covered 21,698 participants and held $1.87B in net assets. The plan is a cash balance pension plan sponsored by The Manufacturers Investment Corporation of Boston, Massachusetts. It is a multiple-employer plan covering the employees of more than one employer.
Net assets came to $86,372 per participant, close to the $87,623 median for defined benefit plans with 5,000 to 24,999 participants and well below the $119,983 median for defined benefit plans in finance and insurance. The figure is an average across everyone in the plan, including former employees with small balances; Form 5500 holds no individual account data.
Schedule C lists 3 service provider organisations paid $5,000 or more, with reported compensation of $2.1M: $96.86 per participant, well below the same-size median of $232. Administrative expenses charged to the plan were $5.7M. Schedule C does not capture every cost: fees netted from fund returns and fees the employer pays directly are outside it.
Across the filings on record, net assets went from $2.05B in 2010 to $1.87B in 2024 (down 8%), and participants from 26,815 to 21,698 (down 19%).
The independent accountant's opinion on the financial statements was unmodified (unqualified).
Compared with similar plans
| Measure | This plan | Same size | Same industry | All US DB plans |
|---|---|---|---|---|
| Net assets per participant | $86,372 | $87,623 | $119,983 | $86,221 |
| Employer contributions per active participant | — | $9,468 | $7,849 | $10,244 |
| Schedule C compensation per participant | $96.86 | $232 | $352 | $344 |
| Schedule C compensation, share of net assets | 0.11% | 0.30% | 0.32% | 0.42% |
| Administrative expenses per participant | $261 | $396 | $433 | $527 |
Peer columns are medians for plan year 2024 across defined benefit plans with 100 or more participants: 5,000 to 24,999 participants (651 plans), finance and insurance (690) and all US plans (5,308). Fee medians cover plans that report an amount.
Trend by plan year
| Plan year | Participants | Net assets | Per participant | Employer contributions | Participant contributions | Schedule C compensation |
|---|---|---|---|---|---|---|
| 2024 | 21,698 | $1.87B | $86,372 | — | — | $2.1M |
| 2023 | 22,463 | $1.97B | $87,667 | — | — | $2.0M |
| 2022 | 23,020 | $1.95B | $84,872 | — | — | $2.6M |
| 2021 | 23,299 | $2.47B | $106,102 | — | — | $2.3M |
| 2020 | 23,879 | $2.48B | $103,994 | — | — | $2.3M |
| 2019 | 24,090 | $2.38B | $98,870 | — | — | $2.3M |
| 2018 | 24,538 | $2.15B | $87,519 | — | — | $2.5M |
| 2017 | 24,864 | $2.41B | $96,974 | — | — | $2.2M |
| 2016 | 25,309 | $2.24B | $88,476 | — | — | $2.1M |
| 2015 | 25,394 | $2.19B | $86,293 | — | — | $2.4M |
| 2014 | 25,534 | $2.42B | $94,634 | — | — | $2.1M |
| 2013 | 26,213 | $2.28B | $86,974 | — | — | $1.7M |
| 2012 | 26,505 | $2.18B | $82,254 | — | — | $8.1M |
| 2011 | 26,659 | $2.01B | $75,228 | $14.0M | — | $4.8M |
| 2010 | 26,815 | $2.05B | $76,336 | — | — | $2.5M |
Years in which the plan filed the full Form 5500 with 100 or more participants, from 2009. Plan year is the year in which the plan year began.
Statement for the year
- Net assets, beginning of year$1,969,256,747
- Employer contributions—
- Participant contributions—
- Rollovers and other contributions—
- Total contributions$0
- Total income, including investment results$48,965,163
- Benefits paid$138,462,240
- Administrative expenses$5,665,459
- Total expenses$144,127,699
- Net income−$95,162,536
- Net transfers$0
- Net assets, end of year$1,874,094,211
Participants
- Active participants4,993
- Retired or separated, receiving benefits8,305
- Retired or separated, entitled to future benefits6,631
- Total participants, end of year21,698
Fees and service providers
| Organisation | Services reported | Direct | Indirect |
|---|---|---|---|
| Alight Solutions LLC | Plan Administrator; Recordkeeping and information management; Consulting (pension) | $1,480,682 | $2,440 |
| State Street Bank | Investment management | $519,458 | $0 |
| Ernst & Young LLP | Accounting (including auditing) | $99,168 | $0 |
Schedule C, Part I line 2: providers that received $5,000 or more, with the form's own service codes. Individuals named on Schedule C (plan employees, individual trustees) are never shown and their compensation is excluded. Eligible indirect compensation disclosed by formula carries no dollar amount. See how to read Schedule C fees.
Administrative expenses on Schedule H
- Other administrative expenses$3,566,151
- Recordkeeping fees$1,480,682
- Investment advisory and management fees$519,458
- IQPA audit fees$99,168
- Total administrative expenses$5,665,459
Investment structure
Assets at year end by Schedule H category. The form shows the kind of vehicle holding the money, not the funds on the menu.
- Other investments$1.19B · 62.8%
- Common/collective trusts$423M · 22.3%
- Partnership/joint venture interests$156M · 8.2%
- Cash (interest and non-interest bearing)$60.6M · 3.2%
- Insurance company general account$46.2M · 2.4%
- Registered investment companies (mutual funds)$19.7M · 1.0%
Audit and compliance answers, as filed
- Accountant's opinionUnmodified (unqualified)
- Audit scope limited under ERISA section 103(a)(3)(C)No
- Accounting firmErnst & Young LLP
- Participant contributions reported as transmitted lateNo
- Covered by a fidelity bondYes, $200,000,000
- Blackout period during the year—
These are the plan administrator's own answers on Schedule H, Part IV. A reported late transmittal is the filer's disclosure of a timing lapse, usually corrected through the Department of Labor's voluntary program; the amount is the total involved, not a loss.
Plan characteristics
1ABenefits are primarily pay related1CCash balance or similar plan1ECode section 401(h) arrangement3BPlan covering self-employed individuals3FPlan sponsor(s) received services of leased employees3HPlan sponsor(s) is (are) a member(s) of a controlled group3JU.S.-based plan that covers residents of Puerto Rico and is qualified under both codes
Codes entered on Form 5500 line 8a, with the labels from the official instructions. Business code 524140: Direct Life, Health, & Medical Insurance Carriers.
Similar plans in Massachusetts
| Plan | Sponsor | Participants | Net assets | Per participant |
|---|---|---|---|---|
| MassMutual Pension Plan | Massachusetts Mutual Life Insurance Company | 22,293 | $2.40B | $107,630 |
| The Hanover Insurance Group Cash Balance Pension Plan | The Hanover Insurance Company | 5,969 | $340M | $56,982 |
| Liberty Mutual Retirement Benefit Plan | Liberty Mutual Group Inc. | 71,087 | $6.25B | $87,898 |
| Blue Cross and Blue Shield of Massachusetts, Inc. Retirement Income Trust | Blue Cross Blue Shield of Massachusetts, Inc. | 5,280 | $867M | $164,129 |
| Sbera Pension Plan As Adopted by Eastern Bank | Eastern Bank | 3,753 | $583M | $155,413 |
| Retirement Income Plan | Sun Life Financial U.S. Services Company, Inc. | 2,051 | $249M | $121,256 |
Defined benefit plans in finance and insurance closest in size.
Questions and answers
How big is John Hancock Pension Plan?
21,698 participants at the end of the plan year ending 31 Dec 2024, of whom 4,993 were active employees, with net assets of $1,874,094,211. Among defined benefit plans that places it in the 5,000 to 24,999 participants band, which held 651 plans in plan year 2024.
What does The Manufacturers Investment Corporation contribute per participant?
This filing has no Schedule H financial statement, so employer contributions are not reported here.
What fees does the plan pay and how do they compare?
Schedule C reports $2,101,748 in compensation to service provider organisations, $96.86 per participant or 0.11% of net assets. The same-size median among plans reporting any Schedule C compensation was $232 per participant. Administrative expenses on Schedule H were $5,665,459. Investment costs deducted inside mutual funds and other pooled vehicles are not itemised on Form 5500, so these figures are a floor rather than a full cost.
Who runs the plan?
The sponsor is The Manufacturers Investment Corporation. Recordkeeping or administration: Alight Solutions LLC. Investment advisory or management: State Street Bank. The financial statements were audited by Ernst & Young LLP. Form 5500 also names the plan administrator's signer and other individuals; this site publishes organisations only.
Was the audit opinion unqualified?
The filing reports an unmodified (unqualified) opinion. Unmodified (formerly "unqualified") is the standard clean opinion.
How current is this, and does it show my balance?
This is the Form 5500 for the plan year 1 Jan 2024 to 31 Dec 2024, received by the Department of Labor on 29 Sep 2025. Filings are due seven months after the plan year ends, or nine and a half with an extension, so the public record always runs a year or more behind. It contains plan-level totals only: no individual balances, contributions or names of participants exist in the data.
Provenance
Source: U.S. Department of Labor, Employee Benefits Security Administration, Form 5500 research files (Form 5500, Schedule H, Schedule C) for plan years 2009 to 2025, public domain, with filings received through 24 Aug 2026. This page shows the latest filing on record for EIN 38-3261832, plan 003, received 29 Sep 2025; an amended filing replaces it at the next build. Medians and percentiles are computed by this site; see the methodology. Report an error through corrections.