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A guide for former employees and retirees

Keep your saving momentum going 

Leaving a job or retiring? Wherever life takes you, stay in control of your retirement savings. We can help you understand your options so you can choose what’s best to keep your money growing and your goals on track.

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Feel confident about what's next for your savings

Deciding what to do with the money you’ve carefully saved is a big step. We’re here to help you understand your options, avoid costly mistakes and taxes, and feel confident about your next step.

Get one-on-one guidance

Schedule a call for personalized support so you can feel confident about what happens next for your money.

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Consider an IRA 

Keep your savings growing tax-deferred with a seamless transition to a John Hancock Investments IRA—plus all sales charges are waived.1

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Personalize your plan for retirement

Get a clearer picture of your estimated income and expenses in retirement, including taxes, with our retirement planner.2

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Compare your options

When your career changes or your retirement begins, you have important decisions to make about your savings. Take some time to compare your options, and when you’re ready, we’re here to help you decide what’s best for your savings and your future.

Roll over to an IRA

You can roll your savings from your former employer’s plan into an IRA, including the John Hancock Investments IRA,1 to keep your money invested.

 

Benefits

  • Keep your savings growing tax-deferred
  • Create one place for all your eligible retirement savings
  • Invest in an account that isn’t tied to your job
  • Stay invested while avoiding taxes and penalties

Keep in mind

  • Investment options depend on the IRA you choose
  • Some IRAs may require a minimum balance (e.g., $1,000)
  • Loans aren’t allowed from IRAs

Stay in your existing plan

Your savings can keep growing tax-deferred even after leaving your job.

 

Benefits

  • Keep your current plan's services
  • Stay with your current investments
  • Continue your relationship with us

Keep in mind

  • You can't add money to your account
  • Your former company decides your investment and withdrawal options
  • Loans may not be available
  • A minimum balance may be required

Roll over to a new employer's plan

You may be able to move your money to your new job's plan. 

Benefits

  • Stay invested while avoiding taxes and penalties
  • Get access to new investments and services
  • Build your savings with additional contributions

Keep in mind

  • Your new plan may not allow you to combine accounts
  • Investment options may be different

Take a cash distribution

Cashing out is an option, but it comes at a cost—you’ll be subject to federal and state income taxes, plus a possible 10% early withdrawal penalty. 

Only worth considering if you have a serious need in the short-term for money that can't be met any other way

Keep in mind

  • Partial distributions may be available from traditional (pretax) retirement plan accounts
  • Penalty-free IRA withdrawals and retirement plan distributions may be used to cover certain expenses
There are advantages and disadvantages to all rollover options. You are encouraged to review your options to determine if staying in a retirement plan, rolling over to an IRA, or another option is best for you.

Call us for personalized help

Your situation is unique, and you shouldn’t have to figure it out alone. Our team is here as a trusted partner—ready to listen, understand your goals, and offer guidance.

Schedule a callback

Learn more about saving for retirement

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October 2, 2026

How to roll over your 401(k) to an IRA: rules, options, and deadlines

When you leave a job, you may have a 401(k) to move. This article walks you through your options and how to roll your 401(k) into an IRA.
Read more

February 22, 2025

Five ways to make the most of your rollover IRA

Moving your money from an old workplace plan to a rollover IRA can make your retirement savings easier to manage and help you preserve important tax advantages. But once you know your way around your new account, there could be even more potential benefits in store.
Read more

February 22, 2025

Four key questions about opening an IRA

IRAs can play an important role in your retirement savings strategy. Here are four questions about opening an IRA.
Read more
1 Other account and investment-related fees are applicable. 2 The projected retirement income estimates for your current Manulife John Hancock accounts, future contributions, employer contributions (if applicable), and other accounts set aside for retirement used in this calculator are hypothetical, for illustrative purposes only, and do not constitute investment advice. Results are not guaranteed and do not represent the current or future performance of any specific account or investment. Due to market fluctuations and other factors, it is possible that investment objectives may not be met. Investing involves risks, and past performance does not guarantee future results.

Investing involves risks, including the potential loss of principal. These products carry many individual risks, including some that are unique to each fund.

Clients should carefully consider a fund's investment objectives, risks, charges, and expenses before investing. To request a prospectus or summary prospectus with this and other important information, visit jhinvestments.com.

Before investing, consider your investment objectives and John Hancock Personal Financial Services, LLC's (JHPFS's) fees. JHPFS's fees do not include the expenses of the underlying investments in your account.

Advice from John Hancock for the Managed IRA is provided as a fiduciary in the participant’s best interest.

John Hancock Personal Financial Services, LLC (JHPFS) is an affiliate of John Hancock Retirement Plan Services LLC. JHPFS is an SEC registered investment adviser that provides automated advisory services for clients by managing investments through the John Hancock Managed IRA program. Assets in a John Hancock Managed IRA will be held at Pershing Advisor Solutions LLC, a registered broker-dealer, member FINRA, SIPC. John Hancock Personal Financial Services, LLC, 200 Berkeley Street, Boston, MA 02116.

John Hancock Personal Financial Services, LLC is an SEC registered investment adviser. John Hancock Personal Financial Services, LLC, 200 Berkeley Street, Boston, MA 02116.

John Hancock Retirement Plan Services LLC offers administrative and/or recordkeeping services to sponsors and administrators of retirement plans. John Hancock Trust Company LLC, a New Hampshire non-depository trust company, provides trust and custodial services to such plans, offers an Individual Retirement Accounts product, and maintains specific Collective Investment Trusts. Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in NY), and John Hancock Life Insurance Company of New York, Valhalla, NY. Product features and availability may differ by state. Securities are offered through John Hancock Distributors LLC, member FINRA, SIPC.

John Hancock Investment Management Distributors LLC is the principal underwriter and wholesale distribution broker-dealer for the John Hancock mutual funds, member FINRA, SIPC.

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