Updated 2026-03-20

John Hancock vs Paychex 401(k) Comparison

Compare John Hancock (#10, 7.7/10) and Paychex (#16, 7.0/10) side by side across fees, ratings, features, and investment options.

Overall Comparison

FeatureJohn HancockPaychex
Overall Score7.7/107.0/10
Rank#10#16
AUM$600 billion$48 billion
Participants3 million730,000
Plan Sponsors48,000+740,000+
Founded18621971

Ratings Comparison

CategoryJohn HancockPaychex
Fees & Costs3.5/53.4/5
Investment Options3.7/53.6/5
Customer Service4.0/53.8/5
Mobile App3.6/53.5/5

Fee Comparison

Fee TypeJohn HancockPaychex
Admin Fees$1,000 - $4,000/year$80 - $150/month + per-employee fees
Expense Ratios0.30% - 1.3%0.10% - 1.2%
Trading FeesPlan dependentIncluded
Advisory Fees0.40% - 0.90%0.50% - 1.0%

John Hancock Strengths

Paychex Strengths

Rollover, Loans & Withdrawals

FeatureJohn HancockPaychex
Rollover Platformmyplan.johnhancock.comPaychex Flex
Loans AvailableYesYes
Withdrawal MethodsOnline via myplan.johnhancock.com, Phone (800-395-1113)Online via Paychex Flex, Phone (800-741-6277), Through plan administrator
Distribution OptionsLump sum, Partial withdrawal, Installment payments, Rollover to IRALump sum, Partial withdrawal, Installment payments, Rollover to IRA, Required Minimum Distributions

Which Should You Choose?

Choose John Hancock if you want:

  • Wellness-focused employers
  • Mid-sized companies
  • Insurance bundle seekers

Choose Paychex if you want:

  • Paychex payroll clients
  • Small to mid-size businesses
  • Companies wanting bundled HR+retirement
  • PEO participants

Our Verdict: John Hancock vs Paychex

John Hancock wins this comparison with a score of 7.7/10 vs 7.0/10. John Hancock excels with unique wellness program integration, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.

Full John Hancock Review Full Paychex Review

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John Hancock vs Paychex: Complete 401(k) Comparison for 2026

Choosing between John Hancock and Paychex for your 401(k) is an important decision that affects your retirement savings. John Hancock offers wellness focus while Paychex is known for payroll integration. In terms of fees, John Hancock charges 0.30% - 1.3% expense ratios compared to Paychex's 0.10% - 1.2%. John Hancock manages $600 billion in assets and serves 3 million participants, while Paychex has $48 billion AUM and 730,000 participants.

Key Differences: John Hancock vs Paychex

When comparing John Hancock and Paychex, consider their core strengths: John Hancock excels with unique wellness program integration, while Paychex stands out for seamless payroll-to-401(k) contribution processing. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. John Hancock's customer service rating is 4.0/5 compared to Paychex's 3.8/5. For mobile experience, John Hancock scores 3.6/5 while Paychex scores 3.5/5.

Which Provider is Right for You?

Choose John Hancock if you prioritize wellness-focused employers. Choose Paychex if you're looking for paychex payroll clients. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual John Hancock and Paychex provider pages.

Frequently Asked Questions

John Hancock scores higher in our 2026 rankings with 7.7/10. John Hancock is best for wellness-focused employers, while Paychex is best for paychex payroll clients. The right choice depends on your employer's plan and your priorities.

John Hancock charges expense ratios of 0.30% - 1.3% with admin fees of $1,000 - $4,000/year. Paychex charges 0.10% - 1.2% expense ratios with admin fees of $80 - $150/month + per-employee fees. John Hancock's fees rating is 3.5/5 compared to Paychex's 3.4/5.

Yes, you can roll over between John Hancock and Paychex. John Hancock uses myplan.johnhancock.com for rollovers, while Paychex uses Paychex Flex. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.

John Hancock offers 401(k) loans. Paychex offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.

John Hancock scores 3.7/5 for investment options, while Paychex scores 3.6/5. Both offer target-date funds, index funds, and managed accounts. John Hancock's investment options include Mutual Funds, Target Date Funds, Stable Value. Paychex offers Mutual Funds, Target Date Funds, Index Funds.

For small businesses, consider plan minimums and per-participant costs. John Hancock is best for wellness-focused employers, mid-sized companies, insurance bundle seekers. Paychex is best for paychex payroll clients, small to mid-size businesses, companies wanting bundled hr+retirement, peo participants. Compare admin fees: John Hancock charges $1,000 - $4,000/year vs Paychex's $80 - $150/month + per-employee fees.

Pavlo Pyskunov

Pavlo Pyskunov

Managing Director & Investment Fund Director

Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.

Last updated: 2026-03-20