An exchange is defined as the full rebalance of a participants account, or single or multiple fund-to-fund transfers that involve multiple investment options (also referred to as inter-account transfers) on one day, and may be made over the Web, by fax, courier or mail, through our toll-free participant services line, or with a client account representative.Recognizing that there may be extreme market or other circumstances requiring a participant to make a further change, John Hancock will allow a participant to move 100% of their assets to a Money Market or Stable Value Fund (as available under the contract after the exchange limit has been reached; no subsequent exchanges may be made for 30 days.Once the 30-day hold has expired, participants can trade again in accordance with the above guidelines.The guidelines do not. Stable Value Portfolio, which seeks to maintain stability of principal and maximize current income, joined John Hancock Freedom 529 education savings plan's lineup of investment options on December 1, 2022. These charges, if included, would otherwise reduce the total return for a participants account. Our responsibility is to express an opinion on these financial statements based on our audits. John Hancock does not provide advice regarding appropriate investment allocations. Key stable value due diligence areas Stable value isn't built like a mutual fund or a money market fund, and anyone evaluating a stable value fund should understand how it works. The total revenue John Hancock and its affiliates receive from a fund advised or subadvised by John Hancock affiliates is higher than those advised or subadvised exclusively by unaffiliated entities. Past performance is no guarantee of future results.Morningstar assigns categories by placing funds into peer groups based on their underlying holdings. . Contact your John Hancock representative for details.An investment in the John Hancock Stable Value Fund is not an insured deposit, nor an obligation of, nor guaranteed by, John Hancock USA, the Fund's Trustee or its Advisor, The Federal Deposit Insurance Corporation (FDIC) or any government agency and is subject to certain market risks. 143. Here are three reasons why stable value funds can withstand a higher interest-rate environment. Performance current to the most recent month-end is available at myplan.johnhancock.com. The highest speculative-grade rating is Ba1. ** Performance of the Sub-account The performance data for a sub-account for any period prior to the sub-account Inception Date is hypothetical based on the performance of the underlying portfolio.+ The Signature Menu was introduced December 8, 2014. To preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term.The Fund is invested primarily in diversified fixed income funds and separately managed bond accounts run by internal and external sub-managers selected by John Hancock in its capacity as advisor to the Fund and Funds are placed in a category based on their portfolio statistics and compositions over the past three years. Such trade restrictions may be more restrictive than the above guidelinesRestricting the number of exchanges made during a defined periodRestricting the dollar amount of exchangeRestricting the method used to submit exchanges (e.g., requiring exchange requests to be submitted in writing via U.S. mail)Restricting exchanges into and out of certain investment options Participants can read about the short-term trading policy at myplan.johnhancock.com under the "modify your account - change account" feature. 5A. The underlying fund company has not reviewed the sub-accounts performance. Also, the redemption and reinvestment processes, including any transition period that may be involved in completing such mergers and replacements, could be subject to market gains or losses, including those from currency exchange rates. In particular, allocating assets to a small number of investment options concentrated in particular business or market sectors could subject an account to increased risk and volatility. Group annuity contracts and recordkeeping agreements are issued by John Hancock Life Insurance Company (U.S.A.), Boston, MA (not licensed in New York). This investment option is deemed a 'Competing' investment option with John Hancock Stable Value Guaranteed Income Fund and may not be available. Morningstar Category: 2023 Morningstar. For further details, please refer to the Offering Statement and Declaration of Trust. The fixed income portfolios. "John Hancock Stable Value Guaranteed Income Fund provides an option to retirement . AThe amounts displayed below represent the gross and net expense ratios of the underlying fund in which the sub-account invests. For further details, please refer to the Offering Statement and Declaration of Trust. This letter is not a rule, regulation or statement of the Commission, and the Commission has neither approved nor . For the most up-to-date semiannual crediting rates, please call 800-395-1113. For the protection of the participants, account changes are subject to the following short-term trading guidelines when exchanging investment options under your company's qualified retirement plan account with John Hancock. It is divided into two sections, investment grade and speculative grade. Refer to the prospectus of the underlying fund for details.When calculating the Expense Ratio of the sub-account, the net expense ratio of the underlying fund is used. For these services, John Hancock and its affiliates receive additional fees which are included in the underlying fund expense ratio (i.e. Crediting Rate is an Approximation. Extension Risk. If the sub-account inception date is after February 23, 2007, then the class introduction date is the same as the sub-account inception date. The funds right to receive payments for the benefit of, and its ability to distribute payments to, plan participants depends on the timely liquidation of separate account assets. "Underlying fund" includes the underlying mutual fund, collective trust, or ETF in which a sub-account invests. Morningstar calculates monthly breakpoints using the effective duration of the Morningstar Core Bond Index in determining duration assignment. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.For each underlying fund with at least a three-year history, Morningstar calculates a Morningstar Rating based on a Morningstar Risk-Adjusted Return measure that accounts for variation in the underlying funds monthly performance (does not include the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Ultrashort is defined as 25% of the three-year average effective duration of the MCBI. John Hancock Retirement Plan Services 200 Berkeley Street Boston, MA 02116. The John Hancock Stable Value Guaranteed Income Fund seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. Often, the issuer of asset-backed securities is a special purpose entity and the investors recourse is limited to the assets comprising the pool. In the event John Hancock is able to earn more than the crediting rate and the expense of operating the fund, John Hancock will keep that difference as its compensation. 239. For further details, please refer to the Offering Circular and Declaration of Trust. Recognizing that there may be extreme market or other circumstances requiring a participant to make a further change, John Hancock will allow a participant to move 100% of their assets to a Money Market or Stable Value Fund (as available under the contract after the exchange limit has been reached; no subsequent exchanges may be made for 30 days A.M. Best RatingAM Best's methodologies for rating is a comprehensive overview of the credit rating process, which consists of quantitative and qualitative evaluations of balance sheet strength, operating performance, business profile, and enterprise risk management.Fitch RatingsThe terms investment grade and speculative grade have established themselves over time as shorthand to describe the categories AAA to BBB (investment grade) and BB to D (speculative grade). Requests may be cancelled if not within our guidelines.Participants are allowed a maximum of two exchanges per calendar month. The John Hancock Stable Value Fund Collective Investment Trust (the "Trust") is a bank-maintained collective trust fund ("BCT") . The availability of products, Funds and contract features may be subject to Broker-Dealer Firm approval, State approval, Broker Licensing requirements, tax law requirements, or other contract-related requirements. Manulife and John Hancock have strong financial strength ratings1from AM Best Company ("AM Best"), DBRS Limited and affiliated entities ("DBRS Morningstar"), Fitch Ratings Inc. ("Fitch"), Moody's Investors Service Inc. ("Moody's") and S&P Global Ratings ("S&P"). In particular, allocating assets to a small number of options concentrated in particular business or market sectors will subject your account to increased risk and volatility. ***Morningstar Portfolio Ratings All Morningstar data is 2023 by Morningstar, Inc. All rights reserved. For more details, see Risk Disclosures section of this booklet. These investment options may be sub-accounts (pooled funds) investing directly in underlying mutual fund, collective trusts, or ETFs, or they may be Guaranteed Interest Accounts.The Funds offered on the JH Signature platform are classified into five risk categories. These charges, if included, would otherwise reduce the total return for a participant's account. The financial statement effects of a tax position are recognized when the position is more likely than not, based on the technical merits, to be sustained upon examination by the IRS. Weightings - Applicable to only the Target Date (Lifecycle Portfolio) and Target Risk (Lifestyle Portfolios) Each Target Risk/Target Date Portfolio has a target percentage allocation designed to meet the investment objectives of a corresponding investment orientation. Where the figures are different, the underlying fund has either waived a portion of, or capped its fees, and the result of such fee waiver or cap is reflected in the net expense ratio.The waiver or cap is subject to expiration, in which case the Expense Ratio and performance of the sub account may be impacted. + When contributions are allocated to Funds under your employer's group annuity contract with John Hancock, they will be held in a sub-account (also referred to as "Fund"), which invests in shares of the specified underlying mutual fund, collective trust, ETF or a combination of these. This investment option is deemed a 'Competing' investment option with the Reliance MetLife Stable Value Fund and may not be available if the Reliance MetLife Stable Value Fund is selected. Categories may be changed based on recent changes to the portfolio. The current crediting rate is guaranteed only until the next rate reset date; crediting rates in future periods may be higher or lower, but in no case less than 1%. Stable Value Options invests in Voya's Stabilizer managed separate account annuity contract, issued by Voya Retirement Insurance and Annuity Company. Seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. Peer Group Performance: With respect to the Funds that display a Peer Group Performance. For more details, see Important Notes (52). "Underlying fund" or "fund" refers to the underlying mutual fund, collective trust, or exchanged traded fund ("ETF") in which the investment option invests.The FER is determined by the underlying fund and may be subject to fluctuation. 2A. Depending on the Funds selected or recommended by the plan fiduciaries (and whether or not any Funds are recommended or selected), John Hancock and its affiliates may receive additional compensation from the Funds, in the form of 12b-1 fees, transfer agent fees, investment management fees, or otherwise. Past performance is no guarantee of future results and current performance may be lower or higher than the performance quoted. These impacts are absorbed by other fund investors, including retirement plan participants. If the sub-account inception date is after December 8, 2014, then the Signature Menu introduction date is the same as the sub-account inception date. The performance of an Index does not include any portfolio or insurance-related charges. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. Net assets represent the sum of participant balances on deposit in this plan's stable valueinvestment option. Collective investment trusts (CITs) are tax-exempt, pooled investment vehicles maintained by a bank or trust company, and they're available only to ERISA-qualified retirement accounts. apply to regular allocations, loans, or withdrawalsIn addition, on an ongoing basis, participant account activity is reviewed for trading activity that, though within the monthly exchange limit, could be detrimental to an underlying fund and/or contrary to its exchange policies, as described in the funds prospectus. You can visit the Employee Benefit Security Administration's Web site for an example demonstrating the long-term effect of fees and expenses. p45. ****Expense Ratio (ER) This material shows expenses for a specific unit class for investment options available under a John Hancock group annuity contract. Index Performance: With respect to the Funds that display an index performance. Allocating assets to only one or a small number of the investment options (other than an asset allocation investment option such as a target date or target risk option) should not be considered a balanced investment program. The fact that assets are exposed to credit risk of the insurance company. All other performance data is actual (except as otherwise indicated). John Hancock Credit Risk. This category can include corporate or government ultrashort bond portfolios, but it excludes international, convertible, multisector, and high yield bond portfolios. FINANCIAL STATEMENTS AND EXHIBITS . FTSE Treasury Bill 3-Month Index: An unmanaged, market capitalization weighted, index of 3-month Treasury bills. Principal Amount or Shares Cost Fair Value Guaranteed Investment Contracts - 94.3% Great-West Guaranteed FundingAgreement 599950-01 1,539,665,223 $ 1,539,665,223 $ 1,539,665,223 The John Hancock Stable Value Fund is a collective investment trust that invests in diversified fixed-income mutual funds and contract value stabilizing agreements. The effect of short-term trading may disrupt or be potentially disruptive to the management of the fund underlying an investment option and may thereby adversely impact the underlying funds performance, either by impacting fund management practices or by increasing fund transaction costs. These charges, if included, would otherwise reduce the total return for a participant's account. Check John Hancock financial statements over time to gain insight into future company . As interest rates decline, the issuers of certain fixed income securities, including asset-backed securities, may prepay principal earlier than scheduled, forcing the applicable portfolio manager to reinvest in potentially lower yielding securities. John Hancock Distributors LLC Member FINRA, SIPC 200 Berkeley Street Boston, MA 02116 800-225-6020. Information Concerning John Hancocks Short-Term Trading Policy The group annuity contract is not designed for short-term trading. In this event, short- and medium-duration securities are effectively converted into longer-duration securities, increasing their sensitivity to interest-rate changes and causing their prices to decline. The credit quality breakdown does not give effect to the impact of any credit derivative investments made by the fund.Moody's The rating scale, running from a high of Aaa to a low of C, comprises 21 notches. Morningstar ratings are applicable to the underlying only and reflect historical risk-adjusted performance as of the most recent calendar quarter-end. The ticker symbols do not directly apply to the John Hancock sub-account and therefore any public information accessed using these symbols will not reflect the unit value of the subaccount, nor will such information reflect sub-account, contract-level or participant-level charges under your plan's group annuity contract. John Hancock conducts business in English. "Underlying fund" or "fund" refers to the underlying mutual fund, collective trust, or exchanged traded fund ("ETF") in which the investment option invests.The FER is determined by the underlying fund and may be subject to fluctuation. The transaction costs and potential market gains or losses could have an impact on the value of your investment in the affected fund and in the ''new'' fund, and such market gains or losses could also have an impact on the value of any existing investment that you or other investors may have in the ''new'' fund. Understanding how a stable value fund works can help you determine if it's right for your 401 (k) or other institutional plan lineup. The underlying securities in each portfolio are the primary factor Morningstar uses as the investment objective and investment strategy stated in a funds prospectus may not be sufficiently detailed for our proprietary classification methodology. Tableofcontents 2 Your fund at a glance 4 Management's discussion of fund performance 6 A look at performance 8 Your expenses 10 Fund's investments 13 Financial statements 16 Financial highlights 21 Notes to financial statements 29 Report of independent registered public accounting firm 30 Tax information 31 Shareholder meeting 32 Evaluation of advisory and subadvisory agreements by the . The guarantee of principal and interest is backed up solely by the assets of John Hancock Life Insurance Company (U.S.A.) (''John Hancock''). Returns for any period greater than one year are annualized. **The performance data presented represents past performance. Ultrashort is defined as 25% of the three-year average effective duration of the MCBI. Although there can be no assurances that all risks can be eliminated, John Hancock as manager of the underlying funds will use its best efforts to manage and minimize such risks and costs. The performance of an Index does not include any portfolio or insurance-related charges. Performance does not reflect any applicable contract-level or certain participant-level charges, fees for guaranteed benefits if elected by participant under the group annuity contract or redemption fees imposed by the underlying Portfolio. It is fully portable and. Standard Deviation is defined by Morningstar as a statistical measurement of dispersion about an average, which, for an underlying fund, depicts how widely the returns varied over a certain period of time.The placement of each investment option's risk/return category is subject to change. Analysis of performance and other indicative facts are also considered. The Fund is available for 401 (k), 401 (a), governmental 457 (b) and Taft-Hartley plans. Contact your John Hancock representative if you wish to obtain a copy. Withdrawals caused by the Plan sponsor may either be paid out immediately (subject to a market value adjustment) or at the full contract value over a period of five years. Investment grade categories indicate relatively low to moderate credit risk, while ratings in the speculative categories either signal a higher level of credit risk or that a default has already occurred.S&PCredit ratings of AA- or better are considered to be high credit quality; credit ratings of BBB- are good credit quality and the lowest category of investment grade; credit ratings BB+ and below are lower-rated securities (junk bonds); and credit ratings of CCC+ or below have high default risk.
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