PRICE MATCH GUARANTEE TERMS AND CONDITIONS

GUARANTEE DETAILS

Human Interest will match or beat the total annual cost of a verified offer from any competitive recordkeeping service provider to administer a comparable ERISA-covered 401(k) or 403(b) retirement plan.

  • For purposes of this Guarantee, “total annual cost” includes all fees charged by a recordkeeper, including, without limitation, administration fees, per participant fees, asset-based fees, and transaction fees, and certain costs of administering a plan, such as large plan audit expenses. It may also consider account credits and other promotions. The price match will be assessed on total annual cost and will not be a fee-by-fee comparison. 

  • For purposes of this Guarantee, “comparable 401(k) or 403(b) retirement plan” is a plan that offers a comparable level of options, services, and features, as compared to the applicable Human Interest service tier. The Guarantee only applies to single employer plans.  

  • To the extent applicable, price matched fees will be documented on the Customer’s Human Interest order form and will be good for twelve (12) months following plan launch, subject to the Human Interest Terms of Service. 

  • If Human Interest is unable to match or beat the total annual cost of a plan with a competitive recordkeeper, but the Customer still desires to engage with Human Interest, Human Interest will honor this Guarantee by providing a one-time credit to the Customer’s new Human Interest plan in an amount equal to the final difference between the total annual costs (calculated for one (1) year), as determined by Human Interest.  The credit can be applied to offset certain plan expenses. The credit cannot be applied to any settlor expenses, in accordance with the guidance set forth in U.S. Department of Labor Advisory Opinion 2001-01A, including, but not limited to, plan design and consulting, setup fees, the establishment of a plan, discretionary plan amendments not required by law, and any legal or actuarial fees incurred for the benefit of the employer rather than the plan participants.

RULES AND ELIGIBILITY 

  • Eligible Organizations: This Guarantee is valid for prospective Customers who are actively managing, or considering launching, a 401(k) or 403(b) plan administered by a recordkeeping service provider to ERISA-covered plans. The offer is not valid for existing Human Interest customers, non-US organizations, and non-US residents.

  • Competitor Costs: The competitor costs must be: 

    • For services, features, and options comparable to the applicable Human Interest service tier. 

    • From a recordkeeping service provider to ERISA-covered 401(k) and 403(b) plans.

    • Detailed on a verifiable, written document dated from within the twelve (12) months prior to submission.  

  • Submission of Verifiable Document: The Customer must submit one or more verifiable, written documents detailing the competitor costs to its Human Interest account manager or sales representative prior to executing an order form with Human Interest.  Each document must clearly show the service provider’s name and all relevant costs, including, without limitation, as applicable, monthly/yearly administration fees, monthly/yearly per participant fees, monthly/yearly asset-based fees, transaction fees, and large plan audit fees (from a registered audit firm). Acceptable forms of documentation are:

    • Screenshot of current pricing 

    • Image or copy of signed order form 

    • Form 408(b)(2) or Form 404(a)(5) 

    • Copies of invoices or service agreements 

    • Formal quote or proposal 

LIMITATIONS AND DISCLAIMERS

Human Interest may deny a claim if it believes this Guarantee is being intentionally abused or manipulated to circumvent its intent, or if the competitive costs cannot be validated. This Guarantee is nontransferable and cannot be combined with any other offers. Human Interest reserves the right to modify these Terms and Conditions or terminate this Guarantee at any time, including as needed to comply with applicable law.  This offer is not valid for employees of Human Interest and its affiliates, and residents of any jurisdiction where this offer is not valid.  Human Interest offers may be subject to US withholding taxes and reporting at retail value. Taxes related to these offers and awards are the recipient’s responsibility.  This Guarantee is administered and offered by Human Interest Inc.