Human Interest - The 401(k) provider for small and medium-sized businesses

A New Partnership…

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We’ve launched a new partnership with Zenefits,* one of the most innovative HR and payroll software and services providers.

Human Interest is an online 401(k) and 403(b) provider. Together with Zenefits, we focus on providing affordable, customizable, automated retirement benefit plans that match the needs of small and medium-sized businesses.

We couldn’t be more excited! There’s great alignment between their mission and ours: to serve America’s small and medium-sized businesses.

Through this partnership, we’ll be offering a “no-touch” integration. That means that businesses who use Zenefits’ payroll software will be able to offer a Human Interest 401(k) or 403(b) to their employees without any manual work that’s involved in managing a company’s retirement plan, such as updating contributions amounts, sending out compliance notifications, etc. Read more here.

“This integration will make it easy for nonprofits and businesses under the Zenefits umbrella to seamlessly access a great retirement savings plan. Our plans outcompete other those of other firms, not only on affordability but also in terms of the plan’s customizability, flexibility, and the quality of our service. Human Interest provides support for both employees and admins, delivers an easy-to-use interface, and even comes with built-in investment advice with personalized features for each employee,” said Rakesh Mahajan, Head of Partnerships at Human Interest.

…to Serve America’s Small and Medium-Sized Businesses

Small and medium-sized businesses, defined by the Small Business Administration as an employer with fewer than 500 employees, are the backbone of the American workforce. SMBs account for:

Yet small organizations face outsized challenges when it comes to benefits. At both Human Interest and Zenefits, we realize this is a huge market being let down. “Like Human Interest, at Zenefits we’re dedicated to serving the needs of the underserved small businesses that fuel our economy, by providing solutions to help them scale and stay competitive in their space,” said Andrea Shannon, Sr. Director of Business Development, Zenefits.

Small Business’s Big Retirement Challenge

We believe that everyone deserves access to a secure financial future. Right now, the retirement savings crisis disproportionately affects America’s small businesses. But there’s hope: Small business owners can help ensure a secure financial future in retirement for more than 42 million Americans and their families. But, right now, just 14 percent of small employers sponsor some type of plan for their employees to save for retirement, according to a 2012 report by the Government Accountability Office.

Why Small Businesses Don’t Offer Their Employees a Retirement Saving Plan….

There are many reasons why smaller organizations don’t think about offering a 401(k) — but they should. In part, this is because traditional 401(k) providers have focused only on big business. However, with several newer modern 401(k) plan providers on the market, including those that specialize in the needs of small and medium-sized organizations, these reasons are often no longer true.

But Why They Should

There has never been a better time to start a 401(k) for your company. Small business owners may be concerned about the ROI from offering a retirement plan but, in fact, they can get many benefits from offering a 401(k) or 403(b):

Finding the Right Plan for Your Small or Medium-Sized Business

There is no such thing as a one-size-fits-all 401(k) plan. Your needs may vary based on the size of your organization as well as your specific goal, e.g. to maximize owner contributions at the lowest cost, to avoid nondiscrimination testing, to help lower-paid employees save for their future, etc.).

Whatever your need, our customers work with our implementation management team to customize the retirement plan design. We offer Traditional and Roth 401(k)s, 403(b)s, safe harbor plans, and profit-sharing plans. Employers can customize matching and vesting options.

To vet a provider, follow the steps below or download our provider comparison tool to help you!

  1. Find a plan administrator – preferably, one that takes care of automated payroll deductions, monitors and tests for IRS compliance, has affordable fees, and more.
  2. Sign up with the service, – connect your payroll, and fill out the necessary paperwork to make sure your company is properly set up with the 401(k) plan documents.
  3. Encourage your employees to start participating! After all – you only want a benefit if your employees will use it. Every eligible employee can select his or her own contribution amount, and some companies even allow for selecting specific funds in which to invest.
  4. *Zenefits currently works with more than more than 400,000 employees at 11,000 small and medium-sized businesses and nonprofits across the country. *Don’t work with Zenefits? We also offer integrations with 15 other payroll providers.
    The Human Interest Team The Human Interest Team

    We believe that everyone deserves access to a secure financial future, which is why we make it easy to provide a 401(k) to your employees. Human Interest offers a low-cost 401(k) with automated administration, built-in investment advising, and integration with leading payroll providers.

Small and medium businesses can be prepared, too.

Start a great retirement benefit for less than the cost of one employee’s health insurance.

Human Interest - The 401(k) provider for small and medium-sized businesses

Get free 401(k) resources now. Learn more about 401(k)s for you and your company.

Get free 401(k) resources now. Learn more about 401(k)s for you and your company.