Last updated, March 28, 2022.
You are required to agree to comply with these Platform Terms when you access or use the Services. If you are using the Services on behalf of an organization or entity, then you are agreeing to these Platform Terms on behalf of that Organization and you represent and warrant that you have the authority to bind the Organization to these Terms. (The term “you” in these Platform Terms refers to both you and the Organization.) We may update these Platform Terms from time to time, and will inform you of any changes. By continuing to use the Services after these Platform Terms have changed, you indicate your agreement to the revised Platform Terms. If you do not agree to these Platform Terms, please do not use the Services. The most current version of these Platform Terms is available via your account portal or on our website.
By using the Services, you represent and acknowledge that you are a resident of the United States and have a United States mailing address (or reside in another jurisdiction as may be specifically approved by Human Interest).
Your investing decisions are implemented using the Service, and you are responsible for the investing risk associated with your decisions and use of the Service. You may elect to utilize an automated investment allocation process which is based on your instructions and inputs to develop a suggested risk profile that determines the default allocations in your portfolio using a computer generated algorithm (“Default Allocation”), including potential rebalancing of your portfolio on a quarterly basis, as applicable.
You should not rely upon us to review your financial situation, tolerance for risk, or the suitability of any investment or investment strategy that you decide to employ at your discretion. We may provide tools that assist you to self-assess your own tolerance for risk or the potential suitability of an investment or strategy, or otherwise to educate you in various ways. We do not determine if the tools we provide to you will result in suitable investments or strategies for you and we do not compare any answers you provide to questions we ask during the account opening process or in tools we provide to your actual investments or investment history.
All investments entail risks and you are responsible for determining whether you can afford the risks of using the output from any of our tools in making any investment or creating or following any investment strategy. While we provide you with tools and ways to help you manage your investments, we do not provide investment, tax, or legal advice. If you wish to receive such advice, you must select and consult your own investment, tax, or legal advisers. You agree that we do not provide such advice, and that all decisions about investing and trading in your account are made by you or someone you have authorized.
Your election of automated investment allocations is optional for you, and you may make alternative allocations decisions, investment transactions or reallocations among the available investment choices in your Plan account at any time, subject to 1) necessary delays with respect to pending transactions in your account which have previously been initiated and must first be concluded, and 2) the imposition by certain mutual funds available as Plan investments of short-term redemption fees or other trading restrictions, which you acknowledge may create charges to and restrictions upon your account at the sole discretion of the mutual fund based on its applicable short-term trading policies.
If savings features are offered to participants in your Plan and you elect to participate, you authorize Human Interest to direct the payroll provider and/or the payroll agent to make contribution rate changes to your applicable Plan account, provided that the payroll provider and/or such agent, and not Human Interest, is responsible for implementing such changes. You understand that these Services are administrative in nature and Human Interest does not act as a fiduciary.
If you elect to utilize the Default Allocation feature, Human Interest will allocate the investments in your Plan account and direct new contributions credited to your account. Human Interest will typically begin to allocate the assets in your Plan account a few days after your enrollment and selection of the Default Allocation or your independent selection of investments, but your actual experience may be affected by system maintenance cycles, data availability, your Plan, your prior enrollment in another plan, existing investments, any applicable holds on the account, and other factors. After your investment election, we will, unless otherwise specified, transition your Plan account toward your allocation target over a transition period which is subject to the provisions and requirements of your Plan and its investment alternatives, the availability of required data, the method of Service enrollment, and certain employer policies. The transition period may be lengthened or shortened at Human Interest’s sole discretion and as appropriate for your account. After the completion of the transition period, your account may be automatically updated at least quarterly, which may result in a change to a new allocation target. For example, as you near retirement, your risk profile may change and impact the Default Allocation in your account. After we review your Plan account, we may direct the Plan’s custodian to buy, sell, or transfer securities in your account among the investment alternatives available under the Plan; however, there is no guarantee that any particular transaction can be executed or be executed at a specific time and Human Interest makes no representations in connection therewith. You acknowledge that, on any particular day, the actual allocation of your Plan account may differ from your allocation target due to various factors such as rounding, market movements, changes to the Plan, availability of investment alternatives, contributions, the transition period, and any legal, regulatory, or other trading restrictions, including those imposed by securities exchanges or parties other than Human Interest.
Human Interest is not responsible for voting proxies for the securities in your account or for making decisions regarding whether to participate in any class action litigation, corporate action, bankruptcy, or any other legal or administrative proceeding relating to any securities in your Plan account.
Our Data Privacy and Security Procedures
You consent to the physical and electronic transmission and storage of your personal and financial information by and between Human Interest and you, your employer’s payroll provider as applicable, Plan, Plan Sponsor, their respective assignees and successors, and other parties as necessary and permissible to continue management of your account under these Platform Terms. If we receive any order, demand, warrant, or other regulatory request to compel the production of personal information or any other information you provide to us in connection with your use of our Services and services, we will notify the Plan Sponsor unless we are prohibited from doing so by applicable law.
By submitting content, files, and data to the Services for processing, you are confirming that all the information you submit is current, complete, and accurate. We are not responsible for independently reviewing, auditing, or confirming any of the information you provide to us.
We have implemented a set of security and related procedures that apply to all transactions and uses of our Services. To protect against the risk of loss of any data, there are certain protocols that all users of our Services must follow and, by using our Services, you agree to comply with those procedures.
Your Responsibility to Protect Your Account
By using our Services, you agree to secure and protect your username and password, make your password sufficiently complex to minimize the risk of unauthorized access to your account, and monitor your account for any suspicious transactions. You should notify us immediately if the username or password to your account is compromised or lost or if your account has been compromised in some way.
When you log in to the Services, we will act on your instructions, including instructions to change investment selections and authorize distributions. WE ARE NOT BE RESPONSIBLE FOR ANY DIRECT OR INDIRECT LOSSES OR DAMAGES ARISING FROM THE UNAUTHORIZED USE OF YOUR ACCOUNT OR PASSWORD BEFORE WE ARE NOTIFIED OF A COMPROMISE.
Your Obligation to Monitor Your Account
You will receive notice by email (or such other medium agreed to between us and the Plan Sponsor) periodically, but not less than quarterly, that your account statement is accessible and available for online viewing and printing. These statements detail all activity recorded in your account and we also make a transaction log, which is updated as of the end of each trading day, available in your account portal. You agree that it is your responsibility to regularly review these records for accuracy and notify us of any discrepancy or error as soon as practicable, as they provide a way for you to find and report any account issues or errors to us. If you do not periodically receive emails notifying you of your statement availability, you agree to notify us immediately so that we can determine the cause of the notification failure and take appropriate steps to correct it.
Accuracy of Account Information
You agree to verify the accuracy and completeness of your information on any communications from Human Interest, and to inform us immediately of any inaccuracies so that we may make any appropriate adjustments to your account, if needed. You agree to provide Human Interest with updated account and contact information if information provided by you changes at any time; failure to update us could negatively impact your ability to select portfolio investments, request account features or distributions, service account loans, designate beneficiaries, or manage other features.
Restrictions on Your Use of the Services
You must use the Services only for their intended purpose, which is to support and administer your retirement plan and access your account. By using our Services, you agree not to (and will not permit or authorize a third party to) (i) decompile or reverse engineer the Services or otherwise attempt to obtain the source code for the Services; (ii) copy, use, appropriate, brand, distribute or disseminate the Services or any of the education materials, playbooks, tutorials, or documents provided to you about the Services; (iii) allow any other person to use the Services on your behalf, except pursuant to your express authorization; (iv) use our proprietary logo(s) without our prior written consent or otherwise remove, delete, alter, or obscure any trademarks or any copyright, trademark, patent, or other intellectual property rights notices provided on or with the Services; (v) use the Services for any purpose other than as stated in these Platform Terms; (vi) use the Services in a manner that interferes with the use of the Services by other end users; (vii) access or attempt to access any data via the Services that does not belong to you; (viii) use the Services to transmit or upload any software, files, records, or other materials that contain any virus, worm, time bomb, trojan horse, or other harmful or disruptive component; (ix) use any robot, spider, site search/retrieval application, or other manual or automatic device or process to retrieve, index, “data mine,” or in any way reproduce or circumvent the navigational structure or presentation of the Services; (x) probe, scan or test the vulnerability of any system or network or breach any security or authentication measures; or (xi) use the Services for any illegal and/or unauthorized purpose. We reserve our rights under our Terms of Service in the event you violate these Platform Terms.
Electronic Transactions and Electronic Delivery of Notices, Statements, Investment Education, and Disclosures (collectively, “Plan Communications”)
Unless explicitly required by law, any requirement for a writing or signature, such as for the designation of beneficiaries, loan or distribution request, or other instruction to or from us, may be rendered in any form that can reasonably be expected to be accessible to the Plan Sponsor and participants, that can be converted into an accurate physical record, or that can be used to confirm the identity or authority of the sender. We will also deliver all Plan Communications to the email address provided to us by the Plan Sponsor, or on the sponsor’s behalf. We will rely on the accuracy of those email addresses. We reserve the right to specify the form in which the Plan Communication is delivered, provided that such method complies with applicable law. All Plan Communications that we create are stored in the Plan Sponsor and participant account portal.
We periodically perform routine website maintenance to optimize the performance of our Services. As a result, you may occasionally see a posted notification that a particular feature or service is temporarily unavailable. We generally limit routine maintenance to non-business hours to minimize its potential impact on you. Most routine maintenance is brief, and any service or feature interruptions it may cause are expected to be resolved promptly. We occasionally perform more significant website maintenance or upgrades that require longer times to complete. We try when possible to provide advanced notification and details on our website regarding such maintenance and the expected duration and service impacts of any such activities. You agree that we are not liable for any losses caused directly or indirectly by routine systems maintenance and associated delays, extraordinary events or conditions beyond our control such as government actions, exchange or market rulings, suspensions of trading, or other third party errors, failures or outages.
Client Service and Troubleshooting
Our client service team is available to assist you between 9:00 am and 5:00pm PST on days on which the New York Stock Exchange is open for business by email at [email protected] or by calling our helpline at (855) 622-7824.
Limited Services Performance Warranty.
WE WARRANT THAT THE SERVICES WILL PERFORM SUBSTANTIALLY AS DESCRIBED IN THESE PLATFORM TERMS. WE DO NOT WARRANT, GUARANTEE, OR MAKE ANY REPRESENTATION THAT THE SERVICES WILL MEET YOUR REQUIREMENTS OR THAT THE USE OF THE SERVICES WILL BE UNINTERRUPTED OR ERROR-FREE. NO OTHER VERBAL OR WRITTEN INFORMATION PROVIDED BY US WILL CREATE A WARRANTY OR INCREASE OUR LIABILITY. OUR SERVICES ARE PROVIDED “AS IS” WITHOUT WARRANTY OF ANY KIND. ANY WARRANTIES IMPLIED BY LAW, THE COURSE OF DEALING, OR OTHERWISE ARE EXCLUDED TO THE FULLEST EXTENT PERMITTED BY LAW.
Indemnification; Limitation of Liability
To the maximum extent permitted by applicable law, you agree to defend, indemnify, and hold harmless Human Interest, its parent and affiliate companies, and their respective officers, directors, employees, agents, representatives, insurers, and assigns from any and all claims arising out of your breach of these Platform Terms and any of your activities related to or in connection with the Services.
EXCEPT WHERE PROHIBITED, HUMAN INTEREST WILL NOT BE LIABLE FOR ANY INDIRECT, SPECIAL, INCIDENTAL, CONSEQUENTIAL, OR EXEMPLARY DAMAGES ARISING FROM YOUR USE OF THE SERVICES OR ANY THIRD PARTY’S USE OF THE SERVICES TO THE FULLEST EXTENT PERMITTED BY LAW. THESE EXCLUSIONS INCLUDE, WITHOUT LIMITATION, DAMAGES FOR LOST PROFITS, LOST DATA, COMPUTER FAILURE, OR THE VIOLATION OF YOUR RIGHTS BY ANY THIRD PARTY, EVEN IF HUMAN INTEREST HAS BEEN ADVISED OF THE POSSIBILITY THEREOF AND REGARDLESS OF THE LEGAL OR EQUITABLE THEORY UPON WHICH THE CLAIM IS BASED. IN NO EVENT SHALL THE AGGREGATE LIABILITY OF HUMAN INTEREST ARISING OUT OF OR RELATED TO YOUR USE OF THE SERVICES EXCEED THE GREATER OF THE AMOUNT YOU PAID USE TO USE THE SERVICES IN THE PAST TWELVE (12) MONTHS OR $500.
You agree that any dispute or claim arising out of your use of the Services, including any dispute or claim as to the application, enforceability, scope, or interpretation of this agreement to arbitrate, will be resolved by binding arbitration, rather than in court, except that you may assert claims in small claims court if your claims qualify. The Federal Arbitration Act and federal arbitration law apply to these Platform Terms.
There is no judge or jury in arbitration, and court review of an arbitration award is limited. However, subject to these Platform Terms, an arbitrator can award the same damages and relief as a court (including injunctive and declaratory relief, or statutory damages), and must follow these Platform Terms.
Arbitration shall be administered by the Judicial Arbitration and Mediation Services, Inc. (“JAMS”), pursuant to the most-current JAMS Streamlined Arbitration Rules & Procedures, and conducted by a single, neutral arbitrator. The JAMS rules are available on JAMS’ website, www.jamsadr.com. Arbitration will take place by phone or videoconference, unless an in-person hearing is requested by either party. In that case, the hearing will take place in San Francisco unless we agree otherwise or the Minimum Standards (as defined below) apply and require otherwise. To the extent that the JAMS Policy on Consumer Arbitrations Pursuant to Pre-Dispute Clauses Minimum Standards of Procedural Fairness (the “Minimum Standards'') applies, to the extent this agreement to arbitrate conflicts with the Minimum Standards, the Minimum Standards in that regard will apply.
Disputes may also be referred to another arbitration organization if you and Human Interest agree in writing, or to an arbitrator appointed pursuant to Section 5 of the Federal Arbitration Act.
We each agree that any dispute resolution proceedings will be conducted only on an individual basis and not in a class, consolidated, group, or representative action. If for any reason a claim proceeds in court rather than in arbitration, we each waive any right to a jury trial. We also both agree that notwithstanding our agreement to only arbitrate disputes as stated above, you or we may bring suit in court to enjoin infringement or other misuse of intellectual property rights.
You have the right to opt out of binding arbitration by sending a timely written notice of your decision to opt out, within thirty (30) days of the date you first become subject to this arbitration agreement. If you want to opt out, your notice must be sent in writing to:
Human Interest, Inc.
Attn: Legal Department
655 Montgomery St, Suite 1800
San Francisco, CA 94111
The opt-out notice must include your full name and email address and clearly indicate your intent to opt out of binding arbitration. If you opt out of this arbitration agreement, all other parts of these Platform Terms will continue to apply to you. Opting out of this arbitration agreement has no effect on any other arbitration agreements that you may currently have with us (or any of us), or may enter into in the future with us (or any of us).
If any part or parts of this arbitration agreement are found to be invalid or unenforceable, then such specific part or parts shall be of no force and effect and shall be severed and the remainder of the arbitration agreement shall continue in full force and effect.
Choice of Law
These Platform Terms, the relationship of the parties, and Disputes (as defined above) will be governed by the laws of the State of California (without regard to conflicts of law principles). You and we agree that these Platform Terms affect interstate commerce and that the interpretation and enforceability of the Disputes section above shall be both substantively and procedurally governed by and construed and enforced in accordance with the Federal Arbitration Act, 9 U.S.C. § 1 et seq., to the maximum extent permitted by applicable law.
Human Interest’s fee is charged to the Plan pursuant to Plan documents, and recorded at the account level based upon Plan account balance. This fee may be subject to discounts that Human Interest may offer from time to time through an agreement with your Plan Sponsor, and may already be accounted for in a separate fee charged to your Plan Sponsor based on an overall percentage of plan assets. In the former case, this fee will be automatically deducted from your account. For more information you should reference Plan documents including the disclosure statements for the Plan which are issued periodically.
In addition, assets invested in mutual funds, may be subject to other non-Human Interest fees, including operating expenses and costs of investing in those funds or vehicles, which may include sales charges or redemption fees. Fund prospectuses contain detailed information on fund fees and expenses. Should you incur such fees or costs as a result of your investment in open-ended mutual funds, you acknowledge that these fees or costs will be assessed to your purchase, or deducted from your redemption proceeds, in accordance with the applicable policies of the relevant fund.
Human Interest will use reasonable care, consistent with industry practice, in providing the Services to you. We do not and cannot guarantee future performance of your account. We do not promise that Default Allocation or any other investment choice that you elect will be profitable. Investment return and principal value will fluctuate with market conditions, and you may lose money. Past performance is not a guarantee of future results and expected returns may not reflect actual future performance. Losses may also result from the sale of the securities which were in your account prior to enrollment in the Service. The investments in your account are subject to various market, business, economic, and political risks. To the extent permitted by applicable law, Human Interest assumes no liability for any losses resulting from your failure to provide us with complete, accurate, and current information and you, making any corrections as needed.
If any part of these Platform Terms are found to be invalid or unenforceable, it will not affect the validity or enforceability of any other part of these Platform Terms, which will continue in full force and effect. Nothing in these Platform Terms may be read to waive compliance with the Investment Advisers Act of 1940 or the rules thereunder, or ERISA or the rules or any order thereunder.
Human Interest does not provide tax, legal or accounting advice. The content on our website has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before engaging in any transaction.