The process of setting up a company 401k plan can be daunting for a small business — so much so that often, it’s only larger corporations that offer retirement plans for their workers.
Human Interest (formerly known as Captain401) is a startup in our current class that makes it easy for a company of any size to set up a 401k program for its employees.
TechCrunch’s Matthew Lynley wrote about Human Interest in a story published today:
“The goal of Captain401 is basically to make managing 401ks as simple as other services have done for other functions within companies — and in a more digitally focused manner like Zenefits or Zenpayroll. Captain401 seeks to create a process that avoids funds that have higher fees and fail to beat the market, CEO Roger Lee said. The investing service is automated, helping employees make better decisions about their investments and become more educated about the best choices, he said.
‘Incumbents like ADP, John Hancock, they require tons of paperwork, snail mailing, filling out and signing,’ he said. ‘Some companies like Fidelity don’t work with small businesses. We think we can do a lot better there, our solution is online and paperless.'”