John Hancock Retirement Income & Rollover Solutions recently formed a new unit designed to assist 401(k) plan participants who wish to consolidate their retirement accounts into their qualified retirement plans with John Hancock.

The Consolidation Services group — which presently includes 13 employees with three positions to be added in the near future — will relieve some of the administrative burden from plan sponsors and their financial advisers, who often try to provide such guidance, but for whom it is a major distraction from their main responsibilities, John Hancock says.

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