A Great Retirement Plan Solution for Small Businesses
July 11, 2023

A Great Retirement Plan Solution for Small Businesses

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

Overall Satisfaction with Human Interest

We use Human Interest for the administration of our company's 401(k) savings plan. It is integrated with Rippling, our HRIS platform.

Pros

  • Clean, intuitive user interface
  • Communication with our employees
  • Integration with Rippling (enrollments, account changes)
  • Support

Cons

  • The administrative cost is a good bit higher than our prior plan administrator (a bank)
  • Higher administrative fees than our previous plan (with a bank)
  • High employee satisfaction with the plan ( no questions or complaints)
I've had a couple of very positive support experiences in the past year: the first was around the passage of the Secure Act 2.0 (Human Interest's communications and webinars). The second was an annual plan review with an account rep, where we evaluated potential modifications to our plan.
I've been impressed...no issues or missing functionality
My payroll and 401(k) plan were formerly with SunTrust (now Truist). I believe they outsourced and white labeled the plan administration. It was inexpensive and a great value. The integration was effective. The user interface was nowhere near as nice as Human Interest, both from the employee and employer's sides. When we switched our payroll to Rippling (HRIS), we also switched to Human Interest and have been very pleased with both.

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

Rippling, Humanity
For a small business, Human Interest makes it really easy to offer a retirement savings program. The service is costly, but it's a good value and the Secure Act 2.0 gives some tax breaks. From the employer's perspective, most of the enrollment and administrative process is hands off, allowing us to focus elsewhere. Human Interest just completed our year-end plan testing and tax reporting, which was also smooth and easy. I also had an annual plan review with an account rep, which was unexpected and useful.

Human Interest Feature Ratings

401(k)
10.0
Administration and Recordkeeping
10
Payroll Integration
10
Compliance Maintenance
10
Plan Flexibility
10
Filings and Disclosures
10
Ease of Enrollment
10

Comments

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