FROM THE PARTICIPANT GUIDEBOOK
Your questions.
Clear answers.
Find the essentials here, or keep the complete guidebook for reference.
Download the Q&A Guidebook ↓Do I need to contribute my own money?
Eligible workers are not required to make personal contributions to receive the program’s annual allocation.
Do I need to sign up every year?
Yes. Register April 1 – June 1 each year to receive service credit for the previous calendar year. Annual enrollment is separate from registering for online account access with John Hancock.
What counts as eligible earnings?
Taxable income from backstretch employment or training at Maryland mile tracks. Provide a W-2, 1099 or filed federal tax return each year; trainers may use a statement from the Horsemen’s bookkeeper. Only the first $22,000 of annual earnings counts toward the allocation formula.
When can I retire?
Normal Retirement: age 65 or the third anniversary of joining the plan, whichever is later.
Early Retirement: age 54½ with at least 25 Years of Service.
Can I withdraw money while still employed?
The guidebook allows withdrawals if you meet Early or Normal Retirement requirements; are over age 55 with 25 years licensed in good standing and actively employed in Maryland racing; or qualify for a hardship withdrawal under IRS rules. Contact the plan’s administrator to confirm which provision applies to you.
Can I take a full or partial withdrawal?
Yes. Once you meet the Early or Normal Retirement requirements, you may request a full or partial withdrawal of your account.
Do withdrawals have the same deadline as enrollment?
No. You may request a withdrawal at any time during the year. The April 1 – June 1 window applies to annual plan enrollment, not withdrawal requests.
How can I manage my investments?
Through John Hancock, you can select from the plan’s investment options, including diversified choices and professionally managed portfolios such as target-date or target-risk funds. You may update investment allocations at any time, within plan limits.
How do I check my balance?
Log in to myplan.johnhancock.com, use the John Hancock Retirement app, call John Hancock at 800-395-1113 or call MTHA at 410-902-6842. You also receive an annual individual benefit certificate after earnings and service data are finalized.
Who handles account-specific questions or distributions?
Contact Allison Bach at Pollard & Associates: 443-689-2549 or abach@pollardpensions.com. For online access or technical help, contact John Hancock at 800-395-1113.
How do I get the full plan documents?
Contact MTHA for a copy of the Summary Plan Description or the full plan document. The guidebook and this page summarize the plan; the plan document governs if there is any conflict.