Refer to the Massachusetts contract form for more details about the John Hancock Stable Value Guaranteed Income Fund. The underlying mutual fund, collective trust, or ETF has the right to restrict trade activity without prior notice if a participant's trading is determined to be in excess of their exchange policy, as stated in the prospectus or offering memorandum. Allocation percentages may vary or be adjusted due to market or economic conditions or other reasons as set out in the prospectus. For further details, please refer to the Offering Circular and Declaration of Trust. PZFVX - JHancock Classic Value A - Review the PZFVX stock price, growth, performance, sustainability and more to help you make the best investments. Any change in the FER of an underlying fund will affect the Expense Ratio of the investment option which invests in the underlying fund.The ER applies daily at a rate equivalent to the annual rate shown, and may vary to reflect changes in the expenses of an underlying fund and other factors.For Expense Ratio information current as of the most recent quarter end, please refer to the monthly Return and Fees listing available from John Hancock upon request. Although gathered from reliable sources, the information is not represented or warranted by Morningstar to be accurate, correct, complete or timely. 3A. "Underlying fund" includes the underlying mutual fund, collective trust, or ETF in which a sub-account invests. The terms investment grade and speculative grade are market conventions and do not imply any recommendation or endorsement of a specific security for investment purposes. a) The following Plan financial statements, schedules and reports are attached hereto: . While an insolvency of JHLH should not diminish the assets of the Separate Account, it could delay the timing of payments to plan participants. For more information, please contact your financial representative. No outcome establish. 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. If these charges were reflected, performance would be lower. Although individual securities or individual funds may outperform the market, the entire market may decline as a result of rising interest rates, regulatory developments or deteriorating economic conditions. December 31, 2020 and 2019 . The fund's primary investment objectives are to preserve principal, maintain a competitive . The fixed income portfolios selected for . 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. Asset class/Investment style : Asset class refers to the broad category of investments the portfolio, or underlying fund, currently holds. All rights reserved. Timely payment under unsecured fixed income securities is dependent entirely upon the performance of the issuer, guarantor or counterparty. For further details, please refer to the Offering Circular and Declaration of Trust. 1A. This category can include corporate or government ultrashort bond portfolios, but it excludes international, convertible, multisector, and high yield bond portfolios. Examples of business or market sectors where this risk may be particularly high include: a) technology-related businesses, including Internet-related businesses, b) small-cap securities and c) foreign securities. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. 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 . You can visit the Employee Benefit Security Administration's Web site for an example demonstrating the long-term effect of fees and expenses. For more details, see Important Notes (52). The trustee of a stable value fund and/or the manager or sponsor of the underlying investments of a stable value fund typically endeavor to maintain one or more Stabilizing Agreements (also known as a Wrap Agreement) with Stability Provider(s) (also known as Wrap Providers) in an attempt to maintain the book value of the fund or the underlying investments. Please call 800-395-1113 to obtain the Fund Sheet for the group annuity investment option sub-accounts and/or to obtain a prospectus (or Offering Memorandum/Trust Document) for the sub-accounts' underlying fund, that are available on request. 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. John Hancock Distributors LLC Member FINRA, SIPC 200 Berkeley Street Boston, MA 02116 800-225-6020. GAverage Credit Quality is from a Nationally Recognized Statistical Rating Organization (NRSRO). As a result of this review, or if requested by a fund company, additional restrictions may be imposed on a participant's retirement account, including but not limited to:Applying redemption fees and/or trade restrictions as requested by the underlying fund manager. Guarantees are provided to participating retirement plans through a rider on a group annuity contract issued by John Hancock Life Insurance Company. Contact your John Hancock representative if you wish to obtain a copy. For example, expense ratios may be higher than those shown if a fee limitation is changed or terminated or if average net assets decrease. 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. These transactions qualify as party-in-interest . The highest speculative-grade rating is Ba1. 143. Ratings are a comprehensive measure of financial strength. Unless your plan sponsor has elected the Market Value Recovery feature, there are no stated fees for investing in this fund. If John Hancock earns less than the crediting rate, John Hancock will pay the difference out of its own funds. 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. Investments in the Fund will accrue interest at the applicable monthly crediting rate, which rate will be set based upon a formula but may be adjusted from time to time as agreed upon by the Stability Provider(s) and John Hancock Life Insurance Company (USA). John Hancock is obligated to pay the guaranteed crediting rate for each rate period. 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. If the John Hancock Stable Value Guaranteed Investment Fund ('SVGIF') is selected or if the Fund selected invests in the SVGIF, John Hancock may earn more from amounts invested in its general account via SVGIF than the interest amount it credits to SVGIF contract holders, depending on investment and market conditions affecting the general account, in which case this 'spread' revenue is retained by John Hancock. Not available to defined benefit plans. **A funds investment objectives, risks, charges, and expenses should be considered carefully before investing. Extension Risk. Performance charts for John Hancock Stable Value Portfolio Fund (JSJWX) including intraday, historical and comparison charts, technical analysis and trend lines. 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. 143. Performance does not reflect any applicable contract-level or certain participant-level charges, or any redemption fees imposed by an underlying fund company. Check John Hancock financial statements over time to gain insight into future company . NOTE F - NEW YORK LIFE STABLE VALUE FUND . This investment option is deemed a 'Competing' investment option with the Federated Capital Preservation Fund and may not be available if the Federated Capital Preservation Fund is selected. The terms investment grade and speculative grade are market conventions and do not imply any recommendation or endorsement of a specific security for investment purposes. Net assets represent the sum of participant balances on deposit in this plan's stable valueinvestment option. Retirement plan fiduciaries should be familiar with the key features of stable value funds as they perform due diligence. The underlying mutual fund, collective trust, or ETF has the right to restrict trade activity without prior notice if a participant's trading is determined to be in excess of their exchange policy, as stated in the prospectus or offering memorandum. The objective of the John Hancock Stable Value Fund is preservation of capital and returns that beat money market funds over a full interest rate cycle. Although gathered from reliable sources, the information is not represented or warranted by Morningstar to be accurate, correct, complete or timely. Listed holdings do not represent all of the holdings in the underlying fund. Fund availability subject to regulatory approval and may vary from state to state. 249. John Hancock does not provide advice regarding appropriate investment allocations. : Expense Ratios), and transaction-related charges (e.g. These charges, if included, would otherwise reduce the total return for a participant's account. 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. Performance does not reflect any applicable contract-level or participant-level charges, fees for guaranteed benefits if elected by participant, or any redemption fees imposed by an underlying mutual fund, collective trust or ETF. The investment in the Stable Value Fund is a contractual account with New York Life Trust Company ("New York Life"). Fixed income, or bond Funds are often categorized by the duration and credit quality of the bonds held in the underlying fund. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results. Contact your John Hancock representative if you wish to obtain a copy. 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. 142. For further details, please refer to the Offering Circular and Declaration of Trust. Crediting Rate is set in advance and is guaranteed by John Hancock Life Insurance Company (USA) and will not be less than 1%. For further details regarding risk and other risks that may apply please refer to the John Hancock Stable Value Guaranteed Income Fund Product Guide. Because the fund invests in the separate account, the value of the fund and its ability to honor withdrawal requests from plan participants depends, in part, on the performance of JHLH. If the John Hancock Stable Value Guaranteed Investment Fund ('SVGIF') is selected or if the Fund selected invests in the SVGIF, John Hancock may earn more from amounts invested in its general account via SVGIF than the interest amount it credits to SVGIF contract holders, depending on investment and market conditions affecting the general account, in which case this 'spread' revenue is retained by John Hancock. Neither John Hancock USA nor the Trustee guarantees the performance of the Stability Provider(s). Maturity/Duration for Fixed Income. Seeks to preserve capital and provide stability of principal while earning current income that exceeds money market rates over the long term. These impacts are absorbed by other fund investors, including retirement plan participants. 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 highest speculative-grade rating is Ba1. Funds are placed in a category based on their portfolio statistics and compositions over the past three years. Prepayment Risk for Fixed Income. 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. Indexes are unmanaged and cannot be invested in directly. 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. Please call 800-395-1113 to obtain the Fund Sheet for the group annuity investment option sub-accounts and/or to obtain a prospectus (or Offering Memorandum/Trust Document) for the sub-accounts' underlying fund, that are available on request. They're exempt from many of the regulatory requirements that drive mutual fund expenses, generally giving them a fee advantage over mutual funds. 5A. Analysis of performance and other indicative facts are also considered. For further details on these fees and certain risks that may apply please refer to the Offering Memorandum. Peer Group Performance: With respect to the Funds that display a Peer Group Performance. Often, the issuer of asset-backed securities is a special purpose entity and the investors recourse is limited to the assets comprising the pool. 239. Past performance is no guarantee of future results.Morningstar assigns categories by placing funds into peer groups based on their underlying holdings. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. Private Fund Risk. The stable value fund is managed by Galliard, a subsidiary of Wells Fargo Bank, N.A., custodian for the fund. For further details, please refer to the Offering Statement and Declaration of Trust. Exchange traded funds and open-ended mutual funds are considered a single population for comparative purposes. 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. Withdrawals or transfers initiated by participants will generally be paid at book value, except where they are the result of plan sponsor actions. GAverage Credit Quality is from a Nationally Recognized Statistical Rating Organization (NRSRO). You want to preserve capital as your primary objective, You want an investment that has a low correlation to equities, You want returns similar to medium-term bond funds with less volatility, You want an investment option that provides liquidity and is generally accessible for withdrawals by participants at book value, You want the added security of an account value that is guaranteed by third parties. Thus, the ability of a stable value fund to pay withdrawals at book value depends on the ability of the Stability Provider(s) to make payments under the Stabilizing Agreements. Morningstar ratings are applicable to the underlying only and reflect historical risk-adjusted performance as of the most recent calendar quarter-end. Listed holdings do not represent all of the holdings in the underlying fund. The ticker symbols shown are for the underlying mutual fund, collective trusts or ETFs in which sub-accounts are invested. Ultrashort is defined as 25% of the three-year average effective duration of the MCBI. 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. Returns for any period greater than one year are annualized. 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. 52. If a 5 year Standard Deviation is not available for a Morningstar Category, then the 5 year Standard Deviation of the underlying fund's Morningstar Category Index is used to determine the Fund's risk category. 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. Moody's appends numerical modifiers 1, 2, and 3 to each generic rating classification from Aa through Caa. For these services, John Hancock and its affiliates receive additional fees which are included in the underlying fund expense ratio (i.e. Contact your John Hancock representative if you wish to obtain a copy.Units of the Fund have not been registered under the Securities Act of 1933, as amended, or under the securities laws of any other jurisdiction; and the Fund is not registered under the Investment Company Act of 1940, as amended, or other applicable law, and participants are not entitled to the protections of such Act. 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. Allocating assets to only one or a small number of the investment options (other than the Target Date Lifecycle or Target Risk Lifestyle options) should not be considered a balanced investment program. If the fund is new and has no portfolio history, Morningstar estimates where it will fall before giving it a permanent category assignment.