Human Interest, which claims to be one of the fastest-growing 401(k) providers in the country, has been selected as the exclusive 401(k) partner for the Route Consultant Purchasing Alliance (RCPA), a membership organization “for logistics professionals. Human Interest’s retirement benefits are now available to over 250,000 delivery business owners and drivers in the RCPA network.”
Human Interest’s 401(k) platform is “available to all of RCPA’s members, which includes FedEx Ground contractors and other logistics businesses.”
RCPA selected Human Interest “to help its members attract and retain employees by offering competitive retirement benefits.” On average, workers with access “to retirement plans are 40% less likely to leave a job within the first year.” In addition to being highly engaged in their careers, logistics workers on the Human Interest platform “have above-average participation rates at 82%.”
Kati Dinkens, Executive Director of RCPA, said:
“RCPA is excited to partner with Human Interest to bring logistics professionals a powerful retirement plan. This partnership will help contractors and their employees set up a strong financial future well beyond their careers.”
Rakesh Mahajan, Chief Revenue Officer at Human Interest, said:
“The logistics industry is the backbone of America and the drivers, schedulers, maintenance crews, and many others who work in it deserve access to key benefits that can help them achieve a secure retirement. Human Interest is proud to serve as the first port of call for small and medium sized businesses, like RCPA members, looking to attract and retain talent in concert with empowering their employees to have a more secure financial future.”
RCPA’s members will also be eligible for Human Interest’s first-of-its-kind 3% cash back on contributions (up to $250), “offered as part of their educational programming for participants, also known as (k)ickstart.” The novel incentive comes in addition “to any employer matching contributions.”
As noted in the update, Human Interest Inc. claims it is “an affordable, full-service 401(k) and 403(b) provider that seeks to make it easy for small and medium-sized businesses to assist their employees in investing for retirement.”
Founded in 2015 and headquartered in San Francisco, Human Interest “helps employees in all lines of work access retirement benefits and a path to financial independence.”