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Yes - You can rollover into the Farm Credit Foundations 401(k) plan any amounts from a prior employers qualified plan and/or any amounts from a “conduit IRA,” i.e. an IRA to which you had previously rolled over a prior 401(k) plan and to which you had not made any additional contributions.
A “Roll Into Plan” form will appear in the Request Forms item in the Menu on your 401(k) Home Page at
mylife.jhrps.com. You can also talk to a John Hancock Retirement Plan Services Participant Service Center representative about rollovers at
You are able to contribute from 1% to 75% of your eligible compensation.
You are vested 100% for the amount you contribute to your 401(k) account. For the employer match and fixed contribution portion of your 401(k) account, you are vested at a rate of 25% each year of employment, and fully vested after four years.
Yes - You may take a loan of up to the lesser of $50,000 or 50% of your vested account balance (reduced by the amount of the highest outstanding loan balance, if any, during the previous 12 months). The minimum amount of a loan is $1,000 up to a maximum of 2 loans. (See the Retirement section for more information).
Yes – your employer matches dollar-for-dollar up to 6%. They also contribute an additional 3% whether you contribute or not. (If you participate in a defined benefit plan, there is no 3% employer contribution and the maximum match is 4% dollar-for-dollar on the first 2% you contribute and 50 cents-on-the-dollar for the next 4%).