Why Retirement
Plans Matter for
Small Businesses
Offering a small business retirement plan, especially a 401(k), improves recruitment, retention, and morale. A recent SHRM report says 60% of employees see retirement plans as key to staying with or leaving their employer. Launching a 401(k) also grants up to $16,500 in federal tax credits over three years via the SECURE Act 2.0. This act makes catch-up contributions easier for seniors and increases opportunities for part-time employees.
As more than 20 states propose or enforce mandated retirement plans, even businesses in non-mandated states must comply if they have employees in those states. Failing to do so can lead to hefty fines or penalties, harming your business.
What You Get with Human Interest + Candoor
Seamless 401(k) setup and ongoing administration
401(k) setup should be timely, accurate, automated, and integrated with payroll and related HR processes. With no-touch payroll integration via isolved, enrollment and ongoing deductions are swift and seamless.
Integration with Candoor’s isolved Payroll System
Smooth payroll integration with your retirement plan means timely deposits, minimal errors, and reduced manual tasks.
Transparent pricing and
no upfront fees
Human Interest 401(k) plans include transparent pricing and no upfront transaction fees. Our customized retirement plans begin at $120 (base fee) + $5 per employee each month.
Full 3(16) Fiduciary Services to
Handle Compliance
The compliance landscape is more dynamic than ever. You need a partner who can help you adapt to legislative changes in real time. Human Interest acts as a 3(16) Fiduciary, assuming administrative responsibilities, addressing compliance obligations, and mitigating risk and liability for your business.
Hands-on support from your Candoor
team and Human Interest advisors
Your business deserves trusted local support invested in your success. Throughout retirement administration, Candoor remains your dedicated, hands-on service partner: answering questions, resolving issues, and maximizing your access to federal credits and other benefits.
Take Advantage of SECURE Act 2.0
Thanks to the wide range of incentives and benefits offered by SECURE Act 2.0, now is the most affordable time to launch a 401(k) retirement plan for your employees.
New tax credits for employers who start a plan
Most small businesses who start a new retirement plan qualify to receive up to $5,500 a year for three years, amounting to $16,500 in total federal tax credits.
Startup businesses and those with fewer than 50 employees benefit most
Employers with 50 or less employees benefit the most from SECURE Act 2.0 credits and startup incentives. Even so, employers with 50-100 employees can still receive 50% credit on eligible startup costs as well as reduced benefits for matching contributions.
Additional tax credits for matching contributions
 Additional retirement plan tax credits are available to employers with less than 100 employees who offer defined/matching contribution plans. This includes 401(k) plans, and can amount to a maximum of $1,000 in credits per employee for each of the first two years, followed by continued but diminishing benefits over the remaining three years of plan administration.
What Makes Our Retirement Solution Different
We’re not another giant, faceless provider.
We provide retirement plan solutions specifically designed for small businesses and readily adapt to the needs of your business and long-term goals.
Easy to use, affordable, and fully supported
We understand the value of an intuitive, and user-friendly setup process. We help you set up and integrate your platform quickly so you can leverage automation and built-in tools to manage your 401(k) plan hassle-free. This ease of use extends to your employees, who can check their 401(k) balances and adjust investments & contribution rates at any time. We also offer a range of educational resources and access to dedicated support specialists who can help your employees responsibly invest and plan their retirement.
Backed by Candoor’s local service and Human Interest’s tech-forward platform
In addition to the automated tools and tech-forward features of Human Interest’s platform, our Customer Experience Guarantee ensures exceptional service in areas like distribution requests, response times, and contribution processing. If we ever fail to meet those standards, we offer a 50% discount on the following month’s bill.
Frequently Asked Questions - FAQs
In a growing number of states, employers (even those with only a few employees) are required to offer a qualifying retirement plan to employees. Additionally, if you operate in a non-mandated state, any of your employees residing in a mandated state must be offered a qualifying retirement plan or you risk non-compliance penalties. Fortunately, incentives from the SECURE Act 2.0 can grant your business federal tax credit of up to $16,500 over three years plus additional benefits if you offer a plan with matching contributions, including a 401(k) plan.
If you already offer a SIMPLE IRA or SEP plan, you can still choose to move to a 401(k) with Human Interest. Many employers decide to make the switch because a 401(k) offers more flexibility, higher contribution limits, and the ability to customize matching options. Transitioning from a SIMPLE or SEP to a 401(k) is a common process —our partner Human Interest will walk you through the timing, plan termination (if needed), and setup so your team has a smooth experience.
We offer a streamlined and expedited setup process that
ensures seamless integration between your retirement administration and payroll. Once your platform is fully integrated, you can leverage a host of automation tools to reduce the need for time-consuming manual tasks and simplify 401(k) management for your small business.
Yes, and it’s a benefit to do so. The SECURE Act 2.0 provides additional benefits to employers who match employee contributions through a defined/matching plan like a 401(k) plan, granting up to $1000 a year per employee for businesses with less than 50 employees.
Ready to Explore Your Options?
Boost retention, stay compliant, and earn federal tax credits.
