Get your complete 401(k) benchmarking guide
Did you know you may be overpaying in 401(k) fees? At Human Interest, we believe employers should compare their fees against industry averages annually, which can potentially help small businesses save thousands of dollars. Download our free benchmark guide, which will show you how to calculate your own 401(k) fees.
Fill out the form to request your benchmark
What you’ll get in our free benchmarking report
You’ll learn everything you need to know about how to compare 401(k) fees, including:
The most important fees to benchmark
How to do a rough calculation on your fees
How to gather important documentation from your current provider
Save fees with Human Interest
Calculating fees can be complex and time-consuming. In our benchmarking fee guide, our intent is to demonstrate that switching to Human Interest may help you save more money in fees.
On average, 401(k) plans with around 25 employees and $250,000 in assets under management pay 1.60% in asset fees, which is roughly $4,000.1 At Human Interest, we charge an annual asset under management fee of 0.50% and participants typically pay an average of 0.07% in underlying mutual fund fees.2
What is 401(k) benchmarking?
Benchmarking 401(k) fees is the process of calculating what asset, administration, and service fees you are currently paying to your existing 401(k) provider and comparing it against other competitors to determine if you are getting the most out of your existing 401(k) plan.
What is a 408(b)(2) fee disclosure?
408(b)(2) disclosures outline fiduciary status, services, and total compensation. This will help you better understand these services, assess the reasonableness of the compensation, and determine any conflicts of interest. When benchmarking your fees, it is recommended that you review your annual 408(b)(2) fee disclosures from your current service provider(s).
Does Human Interest provide free benchmarking reports?
Yes! If you are interested in comparing how much you are currently paying your 401(k) provider against Human Interest, we will create a free, customized benchmarking report. Contact our team today to learn more.
How Human Interest can help small businesses
The retirement plan your company initially started with may not always be a good fit for where your company is today. The goal of any plan is to be aligned with your company's needs and those of your employees. If a plan is not growing, it may be time to think about a switch. We think that the costs and fees associated with your plan are important factors to consider when thinking about making a switch.
At Human Interest, we help make offering retirement plans easy and accessible. Human Interest can help with compliance, recordkeeping, administration, reporting, and more. Our affordable plans can offer small businesses the benefits of a large-scale retirement plan with fewer administrative burdens.
Subscribe to our Retirement Roadmap newsletter
Retirement isn’t just a destination. It’s a journey, and we’re here to help you. Our newsletter delivers succinct and timely tips, reviewed by Financial Advisors, to help you navigate the path to financial independence.