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Human Interest is Interested in making it easy for humans to manage their 401Ks.
Updated January 16, 2020

Human Interest is Interested in making it easy for humans to manage their 401Ks.

Anonymous | TrustRadius Reviewer
Score 7 out of 10
Vetted Review
Verified User

Overall Satisfaction with Human Interest

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.
  • Employees are very happy with our 401K plan. They have complimented our HR & Payroll teams for the ease of use of the product.
Products Reviewed during our selection: Vestwell, Ubiquity, Fidelity, AspireOnline. We reviewed multiple products primarily focused on companies that could integrate with our payroll provider, had a modern UI, and had low fees. Human Interest checked all of the boxes for us as a provider and have delivered on the goals we prioritized when they were selected. The fees were the primary driver of our selection as we were able to create a plan that was able to reduce our employee fees which was the main priority when selecting a plan.
They have a general support email that doesn't provide a case when an email is sent. I had to email multiple times to have an issue addressed which was frustrating and impacted the rating above. Human Interest doesn't have specific account managers which means that it is especially important that the support team is responsive to questions, otherwise, it is unclear if a problem is being worked on.

On the other hand, their support team proactively reached out to communicate that an employee of ours was eligible for an additional contribution as they were over 50 years old. Our payroll system had capped the individual's contribution at $19K which is the current year max for most individuals. Human Interest let us know about the additional contribution availability enabling us to quickly update the employee record for future payrolls.

Do you think Human Interest delivers good value for the price?

Yes

Are you happy with Human Interest's feature set?

Yes

Did Human Interest live up to sales and marketing promises?

Yes

Did implementation of Human Interest go as expected?

Yes

Would you buy Human Interest again?

Yes

Human Interest is well suited for any company that is looking to quickly implement a 401K plan. The interface is better than any other platform I've used during my career and is very easy to use. Any company that has a small team will find Human Interest very useful and helpful in operating a 401K program. It is especially useful if your goal is to automate the payroll process as it fully integrates with our payroll provider.