SAN FRANCISCO, July 17, 2023 (GLOBE NEWSWIRE) -- Human Interest, one of the fastest-growing 401(k) providers in the country, has been selected as the exclusive 401(k) partner for the Route Consultant Purchasing Alliance (RCPA), a premier membership organization for logistics professionals. Human Interest’s retirement benefits are now available to over 250,000 delivery business owners and drivers in the RCPA network.
Human Interest’s 401(k) platform is available to all of RCPA’s members, which includes FedEx Ground contractors and other logistics businesses. RCPA selected Human Interest to help its members attract and retain employees by offering competitive retirement benefits. On average, workers with access to retirement plans are 40%1 less likely to leave a job within the first year. In addition to being highly engaged in their careers, logistics workers on the Human Interest platform have above-average participation rates at 82%.2
“RCPA is excited to partner with Human Interest to bring logistics professionals a powerful retirement plan. This partnership will help contractors and their employees set up a strong financial future well beyond their careers,” said Kati Dinkens, Executive Director of RCPA.
“The logistics industry is the backbone of America and the drivers, schedulers, maintenance crews, and many others who work in it deserve access to key benefits that can help them achieve a secure retirement. Human Interest is proud to serve as the first port of call for small and medium sized businesses, like RCPA members, looking to attract and retain talent in concert with empowering their employees to have a more secure financial future,” said Rakesh Mahajan, Chief Revenue Officer at Human Interest.
RCPA’s members will also be eligible for Human Interest’s first-of-its-kind 3% cash back on contributions (up to $250), offered as part of their educational programming for participants, also known as (k)ickstart.3 The novel incentive comes in addition to any employer matching contributions.
About Human Interest
Human Interest Inc. is an affordable, full-service 401(k) and 403(b) provider that seeks to make it easy for small and medium-sized businesses to assist their employees in investing 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.
About RCPA
Route Consultant Purchasing Alliance (RCPA) is a free membership program that provides a way for business owners to use their combined purchasing power to help them spend smarter and improve cash flow in their business. The program provides a dividend check each year based on participation in the program—the more participating vendors members use, the more they earn. RCPA's mission is to continue to find ways to increase savings and add more value to contractors.
This content has been prepared for informational purposes only, and should not be construed as tax, legal, or individualized investment advice. Human Interest Inc. does not provide tax, legal, or individualized investment advice. Consult an appropriate professional regarding your situation. The views expressed are subject to change. In the event third-party data and/or statistics are used, they have been obtained from sources believed to be reliable; however, we cannot guarantee their accuracy or completeness.
The (k)ickstart program is administered and offered by the recordkeeper, Human Interest Inc. ("HII"). HII's subsidiary and registered investment adviser, Human Interest Advisors ("HIA"), receives a fee based on assets under management. As such, HIA will earn more in asset-based fees if a plan participant increases their contribution in connection with the program.
Route Consultant Purchasing Alliance is not endorsed by and is not recommended by Federal Express Corporation and FedEx Ground and Amazon. Route Consultant Purchasing Alliance is not sponsored by, is not approved by, is not associated with, and has no connection whatsoever with Federal Express Corporation or FedEx Ground or Amazon.
Media Contact:
Human Interest
Press@HumanInterest.com
RCPA
Emily Turner
Emily@routeconsultant.com
1 Gusto data, November 2022: On Gusto’s platform, workers are on average 40% less likely to leave in the first year when they are offered retirement benefits.
2 As of June 2023. 82% of eligible workers at logistics businesses with Human Interest plans participate. The average employee participation rate for employers with Human Interest plans is 70%.
3 3% cash back based on eligible participants contributing at least 8% every paycheck over a 12-month period. Minimum award is $100 and max is $250. See details and terms.
