Integrated Retirement Plans - Paymaster Payroll Services

Integrated Retirement Plans

Don’t underestimate the benefits of “No-Touch” integration

Although it may seem like a small detail, the difference between Human Interest’s “No-Touch” integration and a 401(k) plan that offers partial or zero integration with your payroll provider can add up to hours of manual work.

A payroll integration helps make it seamless to manage your retirement plan

Wondering about some of the work that goes into managing a 401(k) plan? Let’s take a look at a few required tasks when you work with a provider that offers a partial or zero payroll integration.

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Take the tedium out of 401(k)-related tasks

A Human Interest 401(k) helps streamline processes and reports, communicating directly with your payroll system to sync information on-the-fly. Say goodbye to the manual reporting and busywork related to updating employee information that is already in your payroll system. Through integration with Paymaster Payroll Services, Human Interest has your payroll and retirement benefit integration needs covered, so you can focus on the bigger picture.

How a “No-Touch” integration works

Human Interest is an affordable, full-service 401(k) provider that makes it easy for small and medium-sized businesses to help their employees save for retirement. Founded in 2015, Human Interest helps companies in all lines of work access retirement benefits and a path to financial independence. Headquartered in San Francisco, Human Interest has helped thousands of businesses across America to offer retirement accounts to their employees. For more information please visit humaninterest.com.

Paymaster Payroll Services has a partnership with Human Interest and may be compensated if you hire Human Interest. Paymaster Payroll Services and its representatives are not affiliated with or employed by Human Interest. For the full disclosures, refer to humaninterest.com/disclosures.

Transparent and flexible 401(k) plan pricing

Human Interest offers a transparent three-tier pricing structure, each with a different level of service. Forget about hidden fees, our pricing makes it easy for you to understand the total cost of your 401(k) plan so you can make an informed decision about which plan is right for you, right now. If things change, move to a different tier at any time.
All plans offer an all-in-one 401(k) with “No-Touch” payroll integration to help streamline employee onboarding, automate 401(k) contributions, and simplify administration. A one-time $499 setup fee may apply.

What does it mean for Human Interest to provide 3(16) Fiduciary Services to your plan?

A fiduciary of a 401(k) plan is responsible for acting in the plan participants’ best interests, and could be liable if they fail to fulfill those responsibilities. When you choose a Human Interest 401(k) plan you have the option to delegate some of your fiduciary responsibilities to us. As the plan’s administrator and 3(16) Fiduciary Services provider, we handle the day-to-day operations and compliance- related tasks of your 401(k) and mitigate the plan sponsor’s liability.

Human Interest takes on most of the responsibility and liability as your 401(k) partner.

✓ 402(g) Limit Reporting
✓ 404(a)(5) Notice Distribution
✓ 404(c) Notice Distribution
✓ Annual Nondiscrimination & Coverage Testing
✓ Audit Package Preparation (if applicable)
✓ Audit Firm Recommendations, if audit is required
✓ Auto-Enrollment Notice Preparation
✓ Beneficiary Designation Maintenance
✓ Blackout Notice Preparation
✓ Calculations and Processing
✓ Census Review2
✓ Contribution Rate Change Processing
✓ Corrective Distributions Approval4
✓ Corrective Distributions Monitoring
✓ Death Benefit Approval4
✓ Distribution Reporting
✓ Eligibility Calculations and Notifications5
✓ Employee Contribution Monitoring
✓ Error Monitoring
✓ ERISA Bond Review and Purchase4
✓ Force-Out Processing
✓ Form 5500 Preparation, Signing & Filing4
✓ Form 8955-SSA Preparation, Signing & Filing4
✓ Fund Change Notice Preparation
✓ Hardship Distribution Processing
✓ Hardship Distribution Approval4
✓ In-Service Distribution Processing
✓ In-Service Withdrawal Approval4
✓ Investment Election Change Processing
✓ Investment Fund Transfers & Rebalancing
✓ Loan Approval4
✓ Loan Default Monitoring
✓ Loan Policy Administration
✓ Loan Processing & Reporting
✓ Lost Earnings Calculations
✓ Participant Enrollment Processing & Assistance
✓ Payroll File Aggregation2
✓ Plan Amendment Preparation
✓ Plan Document Preparation
✓ Plan Document Restatement
✓ QDIA Notice Preparation
✓ QDRO Calculation & Processing
✓ QDRO Determination & Approval4
✓ Rate Change Monitoring & Reporting
✓ Required Minimum Distributions Approval4
✓ Required Minimum Distributions Calculation
✓ Rollover Contribution Processing
✓ Safe Harbor Notice Preparation
✓ Summary Annual Report (SAR) Preparation
✓ Summary of Material Modification Preparation
✓ Summary Plan Description (SPD) Preparation
✓ Termination Date Verification & Maintenance
✓ Termination Distribution Approval4
✓ Termination Distribution Processing
✓ Upload Payroll Files2
✓ Vesting Tracking
✓ Website Access for Participants, Plan Sponsor, & Advisor
✓ Year-end Data Collection & Review

Human Interest is an affordable, full-service 401(k) provider that makes it easy for small and medium-sized businesses to help their employees save 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. For more information please visit humaninterest.com or follow us on LinkedIn.

Retirement and investment advisory services are only provided to clients who have signed appropriate documents to enter into an agreement with Human Interest. Unless indicated otherwise, this content has been prepared for general informational purposes only, is not intended to provide, and should not be relied upon for tax, legal, or accounting advice, and should not be considered an offer of investment advisory services with regard to securities nor an individualized recommendation or personalized investment advice. Plan Sponsors and participants should take independent steps to validate the tax, legal, and accounting considerations of any service, and should obtain direct tax, legal, and accounting advice before engaging in any transaction.

1 All prices are exclusive of applicable taxes. See our Terms of Service for additional details.

2 These services are not included for unsupported payrolls. Refer to humaninterest.com/payrolls for a list of supported payroll providers.

3 The plan sponsor is responsible for the appointment of Human Interest Advisors as a 3(38) investment manager or 3(21) investment advisor. Advisory services are offered by Human Interest Advisors, a subsidiary of Human Interest Inc. Human Interest Advisors is a registered investment advisor with the Securities and Exchange Commission(“SEC”). SEC registration does not imply a certain level of skill or training. Additional information can be found in the company’s Form ADV Part 2A. For full disclosures, visit humaninterest.com/disclosures.

4 Human Interest’s 3(16) Fiduciary Services are included in Human Interest’s Complete and Concierge 401(k) plans and subject to the Terms of Service.
5 Human Interest will only determine eligibility if the plan uses elapsed time (i.e. days, weeks, months, years). If the plan uses actual hours worked, the client will be responsible for monitoring and reporting eligible employees to

Human Interest.

Paymaster Payroll Services has a partnership with Human Interest and may be compensated if you hire Human Interest. Paymaster Payroll Services and its representatives are not affiliated with or employed by Human Interest. For the full disclosures, refer to humaninterest.com/disclosures.

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