TrustRadius Insights
Human Interest has proven to be a reliable and user-friendly platform for managing 401k plans and facilitating profit sharing. Users have …
Starting at $124 per month
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What is Human Interest?
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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Popular Features
- Ease of Enrollment (35)7.979%
- Filings and Disclosures (34)7.373%
- Plan Flexibility (34)7.272%
- Compliance Maintenance (35)7.272%
Reviewer Pros & Cons
Pricing
Essentials
$120 + $4 per eligible employee
Cloud
per month
Complete
$150 + $6 per eligible employee
Cloud
per month
Concierge
$180 + $8 per eligible employee
Cloud
per month
Entry-level set up fee?
- $499 one-time feeRequired
For the latest information on pricing, visithttps://humaninterest.com/pricing/?utm_…
Offerings
- Free Trial
- Free/Freemium Version
- Premium Consulting/Integration Services
Starting price (does not include set up fee)
- $124 per month
Features
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Product Details
- About
- Integrations
- Competitors
- Tech Details
- Downloadables
- FAQs
What is Human Interest?
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.
Human Interest Features
401(k) Features
- Supported: Administration and Recordkeeping
- Supported: Payroll Integration
- Supported: Compliance Maintenance
- Supported: Plan Flexibility
- Supported: Filings and Disclosures
- Supported: Ease of Enrollment
Additional Features
- Supported: Zero transaction fees
- Supported: Integration with 400+ payrolls
- Supported: Onboarding and ongoing support
Human Interest Screenshots
Human Interest Integrations
Human Interest Competitors
Human Interest Technical Details
| Deployment Types | Software as a Service (SaaS), Cloud, or Web-Based |
|---|---|
| Operating Systems | Unspecified |
| Mobile Application | No |
Human Interest Downloadables
Frequently Asked Questions
Human Interest headquartered in San Francisco offers their cloud-based 401k administation platform for employers featuring flexible plan design and a dedicated account manager.
Human Interest starts at $124.
Reviewers rate Ease of Enrollment highest, with a score of 7.9.
The most common users of Human Interest are from Small Businesses (1-50 employees).
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(222)
Community Insights
TrustRadius Insights are summaries of user sentiment data from TrustRadius reviews and, when necessary, 3rd-party data sources. Have feedback on this content? Let us know!
- Business Problems Solved
- Pros
- Cons
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.
Attribute Ratings
Reviews
(1-13 of 13)Companies can't remove reviews or game the system. Here's why
January 26, 2024
Only use Human Interest if you want to waste your time and money
We are a new, small business and were excited to set up our 401k. What a mistake we made going with Human Interest. At every possible turn, we have been disappointed. First, our salesperson lied to us. Once we signed the Agreement, we were moved to a manager who had no idea what he was doing and it took months for him to figure out that what we were sold wasn't actually possible. We were gifted 6 months free because of our issues, but we continued to be invoiced every now and then so I had to continuously fight to get refunded when we shouldn't have been invoiced. The end result was us having a 401k that we were never able to contribute to and we are happily in moving to a management service that is the opposite of Human Interest—our new team is honest and cares about us, not just building their own business fast. Stay as far away from Human Interest as you can if you want to actually invest and make money, not pay for zero services.
June 30, 2023
Using Human Interest to offer 401k plan to employees
WiConnect LLC started to offer a 401K plan to employees and chose Humant Interest as a provider
- Dashboard to see current enrollment with % and $$
- Automatic contributions through paycheck and integration with Gusto
- Easy to change the contribution amount
- Easy to withdraw the contributions
- I like to contribute specific $ amount, not a % from my paycheck
- I had a long period of waiting for the answers from Human Interest, I'd prefer it to be 1 business day
- Lack the opportunity to talk to the support
March 14, 2023
Great Value, Sketchy Transactions
I was looking for a simple retirement plan for a small business when I found Human Interest.
- Simplicity of fees and options
- Responsive customer service that solves problems
- Logical fund choices
- Transaction dates --- transactions are made on random dates
- Transparency on when transactions will occur
- Cannot find dates of buy/sell
- What is shown as allocation within account is incorrect - showed 100% cash as allocation, but actual allocation was 60/40 with only new funds in cash.
January 04, 2023
I recommend not doing business with them
I use Human Interest as a plan administrator of the company 401k.
- Nothing
- Basic data entry
- Customer Service
- Understanding customers' time zone
November 27, 2022
Run away! Don't fall for the sales pitch, in my opinion, it's a nightmare after that.
We use it for our 401K. It provides us with an easy-to-use registration for 401K, but their onboarding and current plan have caused more of a headache than it's worth.
- Easy to use registration
- Customer Service
- Onboarding Process
- Better trained employees that are knowledgeable about the company
- Don't promise services you cannot provide
- Get approval before you roll out things
- Respond to emails and support tickets quicker or even at all
- Don't leave company in the dark about the process
- Better database that shows current employee contributions
- Better training for company, rather than no training at all
- Being aware of issues and proactively finding a solution, vs company having to reach out to correct issues that could have been prevented
- Better monthly reporting
- A system with less glitches
November 23, 2022
Lacks timely investment of EE contributions and slow reporting
We use it as an employee incentive to both attract and retain employees. The competitive market and tight unemployment numbers make this a top priority for our company. We have endeavored to have all employees enrolled and have been somewhat successful in that.
- Investment options
- Responding to queries and questions
- Provides industry insights
- Lacks promptness in pulling and posting employee deductions after each pay period
- Poor in timeliness of generating quarterly reports. Most recent was posted on 11.8.
- No ability to create custom statements. All other providers that we have used have had this ability to create custom statements based on date range at anytime.
- Results of discrimination/highly comp testing not communicated and or not generated timely.
November 23, 2022
Human Interest Review
We implemented a 401(k) to help with Human Interest to help with staff recruitment and retention.
- Web portal is easy to use
- Our 401(k) contributions & match don't get funded in a timely manner which caused negative comments from our auditors on our mostly recently filed DOL report (5500)
- There's no way for our higher paid folks to contribute a flat dollar amount, only % are allowed.
- Response from support and account reps is extremely delayed if at all
- Audit package is released too late in the year which caused us to file an extension of time to file our 5500.
- There are weird adjustments to our employees 401(k) balance with no explanation.
- The process for uploading the year end census was not easy and many of our employees were terminated in error.
November 23, 2022
Light work, easy onboarding and little ongoing effort
Human Interest handles our Company's 401K Plan. They integrate well with our payroll provider, Heartland. It has become seamless for us, and all transactions are handled behind the scenes. No real-time requirement for our manager or staff.
- 401K Plan design
- Transactions with payroll provider, all digital
- Timely reporting, documentation
- Takes the guess work out for us owners
- A bit of confusion up front on fees and credits for switching to them
September 29, 2022
Human Interest has your best interest in mind!
My company has been using Human Interest for about 100 days now. The onboarding process was super easy as their team walks you through every step with a quick zoom call. Human Interest provides our company with a 401k platform that is simple to navigate as an admin and employee.
- Onboarding process
- Customer support
- Detailed options
- Easy to navigate platform
- Option to enter employees immediately instead of going through payroll platform
September 17, 2022
Piqued my Human Interest!
My company had struggled with another 401k provider for the past two years so when I took over this position, one of my first orders of business was to find a way to streamline their options into one place and Human Interest has done that for us. My employees are very pleased with the ease of use on the website and the smooth transition between companies.
- Website is easy to navigate through and understand
- The fees make sense and are not astronomical like some other companies
- Communicating with support is easy and you get to talk to a human versus an automated system like some other companies
- We had a few billing issues that we're still ironing out with support but hopefully nothing that can't be addressed easily.
April 27, 2022
Human Interest is a scam, avoid at all costs!
Score 1 out of 10
Vetted Review
Verified User
401K plan & profit sharing
- Still looking
- A phony company promising to manage profit-sharing plans without having any knowledge about it.
August 19, 2021
Pulled $3600 in fees 2x in February, not yet resolved in August. Terrible customer service.
Score 1 out of 10
Vetted Review
Verified User
We use Human Interest as our 401k provider as well as to facilitate profit sharing (until recently). It is used by all of our employees. We need a fiduciary consultant to provide advice to keep us in compliance while helping us execute on the delivery of the benefits we have offered employees.
- Website interface is clean and easy to use.
- They employ many customer service agents with no authority to make change.
- They appear to employ a customer service company that services other companies, so they answer the phone with something other than Human Interest at times.
- They regularly say they'll be in touch with an update, but the update is always that they can't resolve the issue yet.
- There are lots of contacts, but no answers.
- There are lots of customer service reps, but no answers.
Human Interest (HI) is the first 401K platform we have implemented at our company. Prior to adding HI, we did not have a 401K plan at our organization and selected Human Interest after reviewing multiple different platforms and providers. We have implemented HI company-wide and it is available to every employee that works at our company. After careful consideration, we determined that HI met the needs of our business better than other vendors who provide a similar service. Our focus was on keeping costs low for our employees, an easy to use interface, and integration with our payroll provider.
- Easy to use Interface: The platform is very easy to use both for administrators and Employees.
- Integration with our payroll provider: When users make changes to their elections in HI, the changes automatically flow into our payroll platform simplifying our payroll process.
- Automatic contributions: Contributions are automatically processed each pay period simplifying the process for our payroll team and reducing the potential for errors.
- Low Cost: The fee structure is very transparent and we were able to craft a plan that kept fees low for our users which was a priority of our organization.
- 3(38) fiduciary: We have a small team and it was important for our organization that our provider was a 3 (38) fiduciary as our team is unable to dedicate the time necessary to select the investments in our plan.
- Enrollments are automatically processed when a new user is created in our payroll platform saving our HR team time creating new profiles.
- There is zero paperwork.
- Support: We identified an issue with our configuration that did not match our agreement signed with HI. The issue was limited to the vesting schedule in our platform and it took multiple emails to have the issue addressed by HI.
- Contributions: We have had periodic issues where a duplicate contribution may be processed by HI. To their credit, they have always fixed these occasional occurrences immediately and proactively.