Maryland Backstretch Pension Plan Launches New Online Features

The Maryland Backstretch Pension Plan is rolling out an enhanced online platform designed to offer more flexibility and control for plan participants.

Earlier this year, the Maryland Thoroughbred Horsemen’s Association (MTHA) Board of Directors approved the creation of a new “self-directed” online system. This platform allows individual account holders to actively monitor and manage their investments by choosing from a range of funds, much like traditional pension plans or 401(k)s. Participants will also have the ability to make qualified withdrawals as needed and not wait for predefined withdrawal periods.

The plan will operate through the John Hancock website and mobile app. Initially, funds will be placed in a “default investment option,” which consists of select financial funds. However, participants can update or modify their investments to curated options at any time to suit their financial goals.

To get started, visit myplan.johnhancock.com or download the John Hancock Retirement app from the Apple App Store or Google Play and Click Register Now.

You will need to enter your information, including the plan’s contract number 167724.

After creating a username and password, setting up security questions, and confirming your details, you’ll be able to explore the platform which offers a range of tools and resources to help make retirement planning simpler and more engaging.

To help users with the new platform, the MTHA has scheduled an informational Zoom meeting on Tuesday, Oct. 22, at 12 p.m.

You can join the meeting using the following link:

https://manulife-johnhancock.zoom.us/j/81214527517

To be admitted, you must enter the passcode:

532408

It is recommended that users download the John Hancock app before this meeting. The John Hancock speaker will specifically show participants during the webinar how to set-up, log in and navigate their website and app during the webinar.

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