Human Interest Fixes 401k Provider Issues
September 29, 2022

Human Interest Fixes 401k Provider Issues

Anonymous | TrustRadius Reviewer
Score 9 out of 10
Vetted Review
Verified User

Overall Satisfaction with Human Interest

401k. Our company moved our 401k to Human Interest because we found many issues from the Financial Advisor to 401k provider and mostly with the Third Party Administrator. Human Interest is supposed to solve the lack of communication from the 401k provider and remove the need for a Third Party Administrator.

Pros

  • No need for a Third Party Administrator.
  • API for our Payroll Provider.

Cons

  • Onboarding.
  • Easier/Faster on payroll and processing 401k funding.
  • They paid for our fees to separate from our old 401k provider.
  • Any fees moving forward will be less than the previous 401k provider.
Our company no longer has to deal with a TPA that seems out of touch with our business needs and a provider that seemed to phone in their participation.
The fact that they run an API with our payroll provider makes the experience seamless. The old provider required an export file while having intermittent issues with said export file.
To date, our experience with Human Interest is much improved over our old 401k provider. Even the GUI is much easier to use from our employees' standpoint.

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

Not sure

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?

No

Would you buy Human Interest again?

Yes

They simplified our 401k management by using an API with our payroll provider. We just ran our first payroll while with Human Interest and it seemed to go perfectly smooth. The only issue we have had to date was during the onboarding process. Our point of contact was constantly "out of office." She ended separating from the company and the person who replaced her is much better with her communication with us.

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