Human Interest is a 401(k) provider for small and medium-sized businesses, aiming to make retirement benefits accessible and affordable for companies that have traditionally struggled to offer them. The company focuses on empowering employees across various industries to save for the future by streamlining retirement plan setup and management.
Human Interest addresses a significant gap in the U.S. retirement landscape: nearly half of all working Americans are not saving enough for retirement, often because their employers do not offer a plan. By leveraging technology, Human Interest has reduced the complexity and cost typically associated with 401(k) administration, helping businesses of all sizes—especially those without existing retirement benefits—give their teams a clear path to financial security.
How does Human Interest's technology enable accessible retirement plans?
Human Interest utilizes a SaaS platform to automate much of the setup, administration, and compliance involved in offering a 401(k) plan. This includes:
- Digital onboarding for businesses and employees
- Automated payroll integration to streamline contributions
- Simplified plan management and reporting
- Ongoing compliance monitoring and updates
These features make it feasible for small and medium-sized businesses—who may lack dedicated HR or finance teams—to offer competitive retirement benefits without the administrative burden or high costs associated with legacy providers.
Who uses Human Interest?
Human Interest primarily serves U.S.-based small and medium-sized businesses across a wide range of industries. Its typical customers are companies that want to retain talent and provide meaningful benefits but previously found traditional retirement plans too expensive or complex to implement. As a fully remote-friendly company, Human Interest is able to support employers and employees nationwide.
Who are Human Interest’s competitors?
Human Interest operates within the fintech and HR tech space, competing with both established financial services firms and newer technology-driven providers. Key competitors include:
- Fidelity – Offers a broad range of small business retirement plans, known for extensive financial services and investment options.
- Charles Schwab – Provides small business retirement solutions with a focus on investment flexibility.
- Merrill – Delivers small business 401(k) plans with the backing of a major financial institution.
- Vanguard – Known for low-cost investment options and small business plan offerings.
- ADP and Paychex – Both offer bundled payroll and retirement solutions for SMBs.
- T. Rowe Price – Specializes in small business 401(k) plans and administration.
- Ascensus – Provides recordkeeping and administrative services for small business retirement plans.
While many incumbents focus on a broader suite of financial services, Human Interest differentiates itself by focusing specifically on the SMB segment, offering a technology-first, user-friendly experience with transparent pricing.
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