Management of pension plans can also be performed through Saas software.
According to foreign media FinSMEs It is reported that the United States Human Interest raised US $ 40 million in Series C financing, led by Oberndorf Enterprises and LLC. In this round of financing, the company will use it to improve its products and technologies, recruit more professionals for the team, and establish partnerships with more companies.
Human Interest is a company that helps small and medium-sized enterprises establish a pension plan. Founded in 2015, the company is headquartered in San Francisco, USA, and was founded by Paul Sawaya and Roger Lee. Enterprises create more comprehensive 401K plans .
401K plan, also known as Enterprise Annuity Plan , is an enterprise supplementary pension insurance system led by enterprises, employers and employees pay together, and enjoy tax benefits It is one of the most common retirement benefit plans offered by American employers to employees.
Human Interest ’s Saas software can quickly create for employees 401K account , which can automatically convert documents related to retirement savings plans into digital files to assist Recorded by the government, the entire process is in compliance with regulations. In addition, Human Interest will provide employees with investment advice and recommend corresponding fund portfolios based on their income, retirement age and assets. In this process, Human Interest has no interest relationship with the fund company and will not accept rebates from any fund company.
Human Interest official website
U.S. SMEs have difficulty building a reasonable pension management plan — 89% of U.S. large companies have retirement savings plans, This figure is only 14%. The US system is very sound, so the 401K plan needs to hire a dedicated HR to handle it. In this process, in addition to collecting and checking a large number of compliance documents, relevant background checks are also performed. The labor cost required for these tasks is very high. Human Interest can solve these processes through Saas software , which is a good solution.
Human Interest’s revenue comes from The monthly fee is charged to corporate customers, and the plan fee is based on the company’s monthly fee of $ 120, and each employee receives an additional $ 4, plus An additional $ 499 installation fee is charged. So far, Human Interest has provided retirement savings plans for more than 2,000 companies, including more than 60,000 employees.