The services, provided through Universal Pensions, Inc., the group which acquired John Hancock’s recordkeeping business, include:
- payroll confirmation forms provided within two business days from receipt of a participant’s data
- participant investment changes complete within one business day
- participant statements mailed within 15 business days of the quarter’s end
- distribution instructions sent within five business days.
The service standards are effective immediately and will apply to all current Growth 401(k) clients using UPI as recordkeeper.