Human Interest Employee Retirement Review

Why Human Interest Is Best for Affordability

Providing a retirement plan can be a big step for small businesses looking to attract and retain talent, but the costs and complexities often make it feel out of reach. Human Interest is a great option for these companies. It’s the most affordable provider we reviewed because it combines cost-effectiveness with uncommon pricing transparency. Its $5-per-employee charge is among the lowest we found, especially for plans that include payroll integration, full plan administration and recordkeeping.

Human Interest also stands out by covering certain mandatory fees that other vendors pass on to employees. For example, it absorbs the cost of early distribution fees, which competitors typically charge directly. Compared with other low-cost providers, such as ShareBuilder 401k, Human Interest delivers more value per dollar spent, making it easier for small businesses to provide meaningful retirement benefits without overspending.

Human Interest Plan Features

Essentials

Essentials is Human Interest’s entry-level plan, designed to give small businesses affordable access to retirement benefits. It includes automated administration and recordkeeping, plus integration with more than 500 payroll providers. Employers can set up safe harbor, Roth or traditional 401(k) plans, and 403(b) plans, as well as create custom vesting schedules. The plan also supports automatic enrollment, employer matching contributions and other core features that make it easy to offer employees a competitive retirement benefit.

Complete

The Complete plan builds on Essentials with enhanced services for added peace of mind. At this tier, Human Interest serves as plan administrator and 3(16) fiduciary, taking on more of the compliance burden for employers. The plan also includes tax support services — Human Interest signs and files required IRS documents like Form 5500 — and it even procures your ERISA bond for you.

Concierge

Concierge is Human Interest’s most comprehensive retirement plan. It includes all the features of the Complete plan plus dedicated account management, giving employers a single point of contact for plan administration and compliance. This further streamlines the process of offering retirement benefits and provides ongoing support for plan design and document review. Concierge customers also avoid meeting caps, extra fees and minimum requirements, making it easier to stay focused on employee benefits.

Additional Features

• Administrative compliance: Employers can choose a plan that shifts IRS and DOL reporting responsibilities to a Human Interest account manager, reducing the administrative burden.  
• Payroll integration: Human Interest syncs with more than 500 payroll providers, making it easy to track and process employee contributions seamlessly.
• Reporting: The administrator dashboard lets employers view reports, monitor employee adoption and manage other functions. We were impressed by how accessible these reports are; you can pull them up instantly in the dashboard, while some competitors require you to call for this information.
• IRS documents: With the Complete and Concierge plans, Human Interest prepares, signs and files IRS forms like Form 5500. This reduces paperwork and minimizes the risk of missing critical deadlines.
• Employee resources: Employees get built-in investment advice, automatic portfolio rebalancing and support for rollovers, loans and hardship withdrawals via phone or email. An online learning center is also available for both employees and employers, and these resources are included with every plan.
• Employee investing flexibility: The platform recommends contribution amounts and portfolio options, which employees can adjust using a simple slider. They can also answer key questions to receive personalized recommendations or manually change risk levels.
• Automated portfolio management: Employee funds are invested in low-cost, diversified portfolios that are automatically rebalanced each quarter, making retirement investing easier for those who prefer a hands-off approach.

Account Types

Human Interest supports various retirement plans, each with its own IRS rules and regulations. This flexibility makes it easier for businesses to choose the right option for their workforce.

• Traditional 401(k): Conventional 401(k) plans allow for pretax deductions, with the option for employers to offer matching contributions.
• Roth 401(k): Roth accounts are funded with after-tax contributions. These accounts grow tax-free and allow tax-free withdrawals in retirement.
• Safe harbor 401(k): Safe harbor 401(k) plans include specific matching provisions that let business owners maximize their own contributions while keeping the plan compliant.
• 403(b): These plans are most commonly used by government agencies and nonprofits; they may also benefit small churches and philanthropic organizations. Human Interest is one of the few vendors we reviewed that offers this option.
• Solo 401(k): This plan is ideal for self-employed individuals or small business owners with no employees other than a spouse. Self-employed 401(k) plans allow contributions as both employee and employer, helping maximize retirement savings.
• SIMPLE 401(k): These plans are specifically for businesses with 100 or fewer employees; they feature simplified administration and lower costs compared with traditional 401(k)s.
• IRAs: In addition to 401(k)-type plans, Human Interest also offers Individual Retirement Accounts (IRAs), giving self-employed individuals or small businesses added flexibility in savings options.
• Profit‑sharing plans: Human Interest lets employers include profit‑sharing components in their retirement offerings, enabling more generous or even performance-based contribution structures. 

Investment Options

True to form, Human Interest keeps things simple when it comes to investment choices. Instead of overwhelming employees with dozens of funds, it offers a short lineup of mostly stock and bond mutual funds, plus a few with international or real estate exposure. Employees also have access to an FDIC-insured cash deposit account for extra security.

The company offers the following types of investments:

• Stock mutual funds
• Bond mutual funds
• International mutual funds
• Real estate funds
• FDIC-insured cash deposit account

While Human Interest doesn’t offer a ton of investment options, it focuses on minimizing employee expenses and risk and limiting them to choices that offer diversification. This makes it easy for employees to choose investment options that don’t involve too much risk to their nest egg. 

Human Interest Costs

We appreciate Human Interest’s transparent, straightforward pricing. Businesses can start with the basics and upgrade as their needs grow.

• Essentials: $120 per month base fee, plus $5 per eligible employee per month
• Complete: $160 per month base fee, plus $7 per eligible employee per month
• Concierge: $200 per month base fee, plus $9 per eligible employee per month

There’s a one-time setup fee of $499, but our research shows that Human Interest may waive it. Employees pay 0.01 percent per month in advisory fees, 0.05 percent per month in recordkeeping fees, and about 0.005 to 0.006 percent in fund fees, which totals roughly 0.78 percent to 0.79 percent annually — about half the average cost of small 401(k) plans.

Ease of Use

It’s easy to get your business set up with Human Interest:

1. Select Get Started on the homepage and enter the number of employees. 
2. Select your payroll provider and note whether your business already has a retirement plan.
3. Provide your contact information so a Human Interest representative can reach out.

When we spoke with representatives, they told us the setup process typically takes about three minutes. You can also call directly or submit your information online to schedule a call.

Once your plan is in place, administration and payroll run largely on autopilot thanks to Human Interest’s integrations. The platform is also easy for employees to use. Human Interest emails clear instructions for creating an account, setting a contribution rate, choosing investments or opting out. The employee dashboard is clean and intuitive, making participation simple from the start.

Customer Service

• Phone support: Representatives are available Monday through Friday from 9 a.m. to 8 p.m. ET. Human Interest backs its service with a Customer Experience Guarantee, promising non-automated, personalized responses. According to a company representative, 97 percent of incoming calls reach a live person within 30 seconds.
• Online form: Employers and employees can also submit inquiries through an online form in the Human Interest Support Center. 
• Onboarding help: All customers are paired with an onboarding specialist during setup. Concierge users also receive a dedicated account manager for ongoing plan administration, while Essentials and Complete users can contact Human Interest’s general support team as needed.
• Online resources: Employers can browse the Human Interest Support Center for helpful resources and FAQs.

Human Interest Drawbacks

There’s a lot to like about Human Interest, but there are a few potential concerns to consider:

• Setup fee: Human Interest charges a steep one-time $499 installation fee — higher than many competitors we reviewed. However, the company often waives this fee during promotions, so it may not be an issue for you. Still, if avoiding setup fees is a priority, consider Paychex Employee Retirement services, which doesn’t charge a separate setup fee for its bundled plans. Our review of Paychex has more information.
• Account management limitations: Dedicated account management is only included with Human Interest’s highest-tier plan. Some competitors, such as MassMutual, provide this service to all paying customers. Read our MassMutual review to learn more.
• Solo 401(k) limitations: Human Interest added solo 401(k) plans, but its services are primarily designed for employers who want to automate plan administration. Sole proprietors looking for more tailored solo 401(k) support may find a better fit with providers like ShareBuilder 401k. Read our ShareBuilder 401k review to learn more about this provider.
• Customization limitations: Human Interest focuses on affordability and simplicity, which means it offers fewer customization options than some larger providers. Businesses with more complex needs may prefer ADP, which provides a highly flexible suite of retirement and HR solutions. Our detailed review of ADP explains more.

Methodology

We researched the best employee retirement plans and chose Human Interest as our top pick for affordability. Our evaluation process included examining setup fees, ongoing administrative costs, transparency and per-employee pricing to find the most budget-friendly option for small businesses. We also considered essential features like payroll integration, investment options, compliance support and employee resources. Human Interest stood out because it combines low monthly rates with transparent pricing and automated administration. It also covers certain mandatory costs that other vendors pass on, providing small businesses with more value for every dollar spent.

Overall Value

We recommend Human Interest for …

• Companies seeking excellent value for their money with an employee retirement vendor.
• Small employers that want easy-to-manage safe harbor plans.
• Small churches, foundations and nonprofits that could qualify for 403(b) plans

We don’t recommend Human Interest for …

• Companies that want dedicated account management included in lower pricing tiers.
• Businesses concerned about high setup fees.
• Employers seeking more flexibility with investment choices beyond Human Interest’s prebuilt menus. 

Nathan Weller contributed to this review.