Not worth the legal fees
November 23, 2022

Not worth the legal fees

Anonymous | TrustRadius Reviewer
Score 1 out of 10
Vetted Review
Verified User

Overall Satisfaction with Human Interest

Our company hired Human Interest as our 401k plan administrator. They set up our new plan and interface with our payroll program. They collect contributions and remit them to the trust accounts. That had gone relatively smoothly but wasn't until the audit that the issues came to light. We've had lots of trouble with the information that's come out of the audit.
  • Interface with payroll software
  • Easy participant interface
  • Communication
  • Plan documentation
  • Follow though
  • Cost us 10k is legal fees to fix the plan.
  • Cost us 10k in missed contribution due to the set up and lack of instructions.
The interface is easy to use and interfaces with our payroll program.
As someone who came from a multi-employer plan, there is not a lot of support here for someone who hasn't had a lot of experience.

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

No

Are you happy with Human Interest's feature set?

No

Did Human Interest live up to sales and marketing promises?

No

Did implementation of Human Interest go as expected?

No

Would you buy Human Interest again?

No

As far as collecting contributions, they are fine. The plan doc was set up wrong, and the 5500 was wrong. We hired an Erisa attorney to fix the plan doc and prepare communications with the IRS. They have cost us a lot of money, and it's defiantly not worth the headache of dealing with the aftermath.