| | Paychex Employee Retirement | | Human Interest Employee Retirement | | | | | |
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Rating | 8.7/10 | 9.2/10 | 9.1/10 | 9.6/10 | 8.7/10 | 9.0/10 | 9.2/10 | 9.0/10 | 9.1/10 |
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Best use case | | | Best for small businesses
| | | Best for easy implementation
| | | Best for investment flexibility
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Monthly pricing | $250 one-time installation fee;
$500 annual fee;
$20 per participating employee
| | 401k Essentials: $150 per months plus $4 per participant per month
SIMPLE IRA administration starts at $480 per month
Pricing for other plans not disclosed online
| Starting at $120 per month, plus $4 per employee;
one-time $499 setup fee
| Starting at $25 per month for solo 401(k)
| Starting at $375 per quarter for 10 employees, plus $7.25 per quarter for each additional employee
| No setup fee, no account maintenance fee, no withdrawal fee, no account minimum
| Starting at $49 per month plus $8 per employee
| $20-$25 account fee for certain accounts or certain balances, fund expenses;
403(b) plan participants pay $5 per month
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Add-on fees | No 12b-1 fees, exchange fees, or minimum balance fees
| | 401k Essentials: 0.10% of eligible assets as annual investment management fee, minimum $20.83 per month
Fees for other plans not disclosed online
| 0.5% per year, plus 0.07% in average fund fees
| 0.75% for plans with 11-25 participants and less than $500,000 in assets
| | Commissions on trades in certain securities
| 0.08% per year for participants
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Types of plans | Safe harbor
401(k)
Traditional 401(k)
| Traditional 401(k) Owner-only 401(k)
Solo 401(k) SIMPLE IRA
| 401(k) SIMPLE IRA SEP IRA
| Traditional 401(k)
Roth 401(k)
Safe harbor
401(k)
403(b)
| Solo 401(k)
Safe harbor 401(k)
Traditional 401(k)
Tiered profit-sharing 401(k)
| | 401(k)
Self-employed 401(k)
SEP IRA
SIMPLE IRA
| | 401(k)
Individual 401(k)
403(b)
SEP IRA
SIMPLE IRA
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Ease of use | | Option of comprehensive recordkeeping and administration
| Easy enrollment via mobile app
| Integrated plan administration and payroll
| Fully administered plans with payroll integration and bundled recordkeeping
| Plan design, enrollment materials, help with rollovers, participant education
| Phone support, account forms online, contributions by phone or mail
| Plan design, plan fiduciary, employer and employee dashboards, payroll integration
| Online setup for IRA options, recordkeeping included
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Online and mobile enrollment | | | | | | | | | |
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Acts as fiduciary | | | | | | | | | |
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Review Link | | | | | | | | | |
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