Human Interest headquartered in San Francisco offers their cloud-based 401k administation platform for employers featuring flexible plan design and a dedicated account manager.
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Human Interest (“HI”)is a 401k provider boasting clear, transparent pricing. Human Interest, Inc. helps provide companies and their employees more options when it comes to crafting a retirement plan.
Testimonials are unique to the reviewer and may not be representative of others’ experiences. HI solicited clients for testimonials in exchange for nominal, non-cash compensation starting 2/28/23. Previously, from 8/23/22-12/31/22 Human Interest offered gift cards as an incentive for customers to complete reviews. An offer of non-cash compensation or a gift card and direct solicitation for a testimonial incentivizes reviewers to portray Human Interest favorably. Past success does not guarantee future results
What comes with a Human Interest, Inc. 401(k) plan?
Automated Administration
Compliance Monitoring
Dedicated Support Team
Investment Education
3(16) Fiduciary Services Available
Their solution aims to make it possible for companies to offer high-quality 401(k)s as a part of a competitive benefits package without putting a huge administrative burden on HR. Employers can set up and administer a 401(k) plan entirely online, and make it easier for employees to manage their retirement benefits.
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
Human Interest has proven to be a reliable and user-friendly platform for managing 401k plans and facilitating profit sharing. Users have praised the platform for its transparency regarding fees and updates, providing peace of mind for companies and employees alike. It has simplified the onboarding process for 401k programs, automating tasks that were previously time-consuming. The integration with existing payroll providers has also been seamless, streamlining the administration of 401k plans. Small businesses with limited HR staff have found Human Interest to be a valuable tool in simplifying 401k administration and meeting state requirements.
Additionally, Human Interest has been recommended by financial advisors for offering competitive costs and a user-friendly interface. The software provides a personal and daily window into 401k funds, allowing users to control their investment amount and strategies with ease. It also ensures that no contributions are forgotten through automatic 401k contributions. Despite some challenges faced by users in canceling the service or getting a prompt response from customer support, the platform's overall simplicity, ease of use, and integration capabilities have been highly appreciated by both businesses and employees. Human Interest enables small businesses to offer retirement accounts to their employees while benefiting from tax breaks and deductions. By taking on the fiduciary role, it reduces the workload for businesses by dealing with employee notifications and interactions. Overall, Human Interest's intuitive interface and ability to meet diverse business needs make it a valuable asset for companies of all sizes looking to provide retirement services to their employees.
Sales Process: Reviewers have praised the initial sales representatives for doing a great job of selling the product. They found their approach convincing and effective, resulting in successful conversions. Furthermore, having the presence of their manager during the sales process has been highly beneficial as it helped address any questions or concerns raised by executives.
Ease of Use: Users consistently commend the platform's ease of use. The interface is simple and intuitive, allowing employees to navigate through tasks quickly and efficiently. Whether it's completing paperwork or accessing important information, users appreciate how user-friendly the platform is.
Integration with Other Systems: A significant advantage highlighted by reviewers is the seamless integration of this platform with various systems such as HR, payroll, book management software QuickBooks, and enrollment/account changes software Rippling. This integration greatly simplifies processes for users by eliminating manual data entry and reducing administrative tasks. Users can seamlessly transfer information across different systems without encountering compatibility issues or additional steps.
Complications with the antiquated system: Some users have encountered complications with the outdated system, leading to issues with API integration between payroll and Human Interest. This has caused significant stress and uncertainty on payroll days.
Lack of communication from customer service: Users have expressed frustration over consistently unhelpful updates from customer service. There is a clear lack of communication and training during the rollout of solutions, leaving users feeling unsupported.
Higher administrative cost compared to previous plan administrators: Users have noticed that the administrative cost is higher compared to their previous plan administrators. They also wish for easier access to contact information directly on the dashboard.
