Founding History
Roger Lee and Paul Sawaya
Who are the Human Interest Co-founders?
These plans guaranteed a certain type and amount of benefit when retired.
What are Defined Benefits plans?
After a deal close-won, this link is sent to the customer and allows the customer to start adding their company and bank information to our system.
What is step-up link?
This ACT went into effect on January 1st, 2020, providing more tax incentives for small businesses (<100 EEs) who set up a new 401(k) plan.
The Setting Every Community Up for Retirement
Enhancement (SECURE) Act
Rakesh Mahajan
Who is Human Interest's VP of Revenue?
Investment Management. Full discretionary. Entity (i.e Human Interest) fully takes responsibility to monitor fund, set the fund lineups, set risk assessment, and do annual reviews for fund/cost-effectiveness review.
What is 3(38) Fiduciary Responsibility?
Who is the Implementation Manager?
This Program authorized up to $349 billion in forgivable loans to small businesses (<500 EEs) to pay their employees during the COVID-19 crisis.
What is the The Paycheck Protection Program (“PPP”)?
Human Interest's Senior Director of Revenue Marketing & Development of
Who is Michelle Kimihira?
Responsible for keeping track of the plan’s day to day activities such as:
Funds going in and out of the plan.
Participant transactions activity
What is a Bookkeeper?
After the customer added in the company info, bank info, and set up a meeting via the calendar page using the set-up link, which team's domain will this customer fall under now?
What is the implementation domain?
Under the SECURE Act, an additional $500 annual tax credit for employers who choose this feature in their plan.
What is the auto-enrollment feature?
Human Interest's National Dir. of Partner Management
Who is Ted Haase?
$150 base fee/month + $6 per/eligible employee month
What is the Complete Pricing?
The person who answers any question the customer has before the deal reaches implementation but after close-won.
Who is Lucia Avila?
Qualifying businesses will be eligible for loan forgiveness when PPP loan proceeds are spent on Qualified Expenses within the eight weeks Covered Period and at least 75% of Qualified Expenses were payroll costs.
What is the 75/25 rule?
To solve the retirement savings crisis so that everyone can achieve financial independence.
What is Human Interest's Vision?
The three main compliance test for 401(k)
What are The Actual Deferral Percentage (ADP) test, The Actual Contribution Percentage (ACP) test, and Top-heavy Test?
Adoption Agreement, Consent Action/Resolution, Loan Procedures, Matrix Custodial Agreement.
What are Plan documents?
Qualifying businesses will be eligible for loan forgiveness when PPP loan proceeds are spent on Qualified Expenses within the eight weeks Covered Period and at least 75% of Qualified Expenses were payroll costs.
What is the 75/25 rule?