Human Interest, which claims to be the “fastest-growing,” and “top-rated” 401(k) provider, introduces Fast Track 401(k), a radically simplified way for small and medium-sized businesses (SMBs) to purchase and design a new 401(k) plan.
Fast Track 401(k) is the latest step in Human Interest’s mission “to address the problems that have prevented businesses and employees from taking advantage of a powerful way to save for retirement in America.”
Fast Track 401(k) is a response “to the onerous and expensive setup processes created by legacy retirement providers.”
Many SMB owners have been reluctant “to start a retirement plan because it requires making an overwhelming number of choices and wading through dense industry jargon and acronyms.”
The decisions made when setting up a plan “have a material impact on administrative burden, fiduciary liability, and risk of penalties, but it can be challenging for first-time 401(k) buyers to understand these nuances and consequences.”
This complexity adds yet another stressor “to small business ownership, leading to inaction or the potential for costly financial implications down the line.”
Fast Track 401(k) takes the guesswork out of starting “a new plan by recommending common plan designs that are in compliance with the latest industry regulations like SECURE Act 2.0.”
In a simple ten-minute process, customers “can access the same flexible plan designs, transparent pricing, built-in investment advice3, and award-winning support4 that makes Human Interest a leading provider.”
Kristina Wallender, Chief Experience Officer at Human Interest, said:
“We spent months researching the needs and challenges of first-time 401(k) buyers and learned that most grapple with anxiety and indecision when required to answer a long series of convoluted questions with little knowledge or confidence. We’ve created a simplified experience that replaces 401(k) jargon with common language, guides users to commonly chosen plan options, and provides contextual guidance to help administrators make confident choices. With Fast Track 401(k), we’ve removed the hurdles that prevent small businesses from starting a new plan.”
Human interest claims it has pioneered significant improvements “to the retirement industry.”
It was the first provider to “eliminate 20+ transaction fees other providers charge, the first to offer employees cash back on their 401(k) contributions (up to $250)5, and is now the first to make the process of setting up a new plan something that can be accomplished in ten minutes or less. For more information, contact us at https://humaninterest.com/.
As covered, Human Interest Inc. says 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 help their employees invest 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.”