Savings FAQ

What qualifies for an economic hardship withdrawal?

Each of the following qualifies for an economic hardship withdrawal from the annuity and savings fund. Each requires the proper documentation to be included with the withdrawal application.

  • Unreimbursed medical expenses or expenses necessary to obtain medical care.
  • Tuition, fees and room and board for post-secondary education.
  • Purchase of principal residence (maximum of once every 24 months)
  • Eviction from principal residence or foreclosure on principal residence mortgage (maximum of once every 12 months)
  • Burial and/or funeral expenses

How long does it take to receive a check after a withdrawal application has been approved by the trustees?

You will receive a check from John Hancock within seven to ten business days.

What is the John Hancock Retirement Services website?

John Hancock Retirement Services website is https://myplan.johnhancock.com/.

What is the John Hancock Retirement Services Participant Center Customer Service phone number?

Call 1-833-388-6466. Representatives are available between the hours of 8:00 AM and 10:00PM, Eastern Standard Time Monday through Friday.

When are the annual options statements released?

If you qualify to receive an option, the option form will be included with the 3rd quarter statement.  The 3rd quarter statement is released by John Hancock on the 10th business day of October.  The options form is due back to the Carpenters Combined Funds by the date stated on the option form.  The option checks are released on the 1st business day of December

When are the Form 1099-R released?

John Hancock Retirement Services releases the 1099-R forms typically by the 15th business day of January.  John Hancock Retirement Services is required to release the Form 1099-R no later than January 31st.