Human Interest is a financial technology company founded in 2015 that specializes in providing affordable, full-service 401(k) and 403(b) retirement plans for small and medium-sized businesses. The company aims to democratize access to retirement benefits, ensuring that employees across all lines of work have the opportunity to save for their futures. By automating complex administrative and compliance tasks, Human Interest simplifies the burden on business owners and plan administrators, allowing them to focus on running their businesses.

The platform handles the entire retirement plan lifecycle, including payroll synchronization, contribution processing, compliance testing, and IRS paperwork management. It offers a transparent, technology-driven approach that integrates with over 500 payroll providers, making setup and ongoing management seamless for employers.

Some of the key features are:

• Automated Administration: Streamlines compliance testing, Form 5500 filings, and contribution processing directly through payroll integration.
• Flexible Plan Design: Supports Traditional and Roth 401(k)s, 403(b)s, safe harbor plans, and profit-sharing arrangements.
• (k)ickstart Program: Provides 3% cash back on employee contributions for those earning $60,000 or less, alongside educational resources.
• 3(16) Fiduciary Services: Offers specialized support for managing ERISA requirements and government filings.
• Investment Education: Includes built-in tools for employee investment advice and automated portfolio rebalancing through its subsidiary, Human Interest Advisors.
• Compliance & Audit Support: Features ongoing compliance monitoring, data alerts, and audit relief tools for larger plans.

To operate the platform, businesses select a service tier—Essentials, Complete, or Concierge—based on their specific administrative needs and desired level of support. Once a plan is selected and integrated with the company's payroll system, the platform automates the onboarding process for employees. Participants can access a mobile-optimized interface to track balances, manage contributions, and utilize educational resources. The system also provides a 360-degree dashboard for administrators to monitor participation rates and reporting.

Some common use cases include:

• Startup Retirement Benefits: Providing scalable, cost-effective retirement plans that attract talent in high-growth environments.
• Small Business Compliance: Removing the stress of annual IRS filings and complex ERISA compliance for business owners lacking dedicated HR teams.
• Nonprofit Benefit Packages: Assisting tax-exempt organizations in setting up 403(b) plans to offer competitive compensation.
• Franchise Management: Standardizing retirement offerings across multiple franchise locations through centralized administration.