Human Interest, a 401k provider, will provide access to retirement savings for thousands of professionals working with home services company Neighborly, the organization announced in a new press release.
Human Interest 401k plans will be available to over 4,400 franchise locations, including Molly Maid, Mr. Electric, Mosquito Joe, Glass Doctor, and others. A few Neighborly franchises have already rolled out Human Interest 401k plans to their employees.
“Human Interest makes it easy for Neighborly franchise owners to save for their future and allows owners to stand out as an employer of choice in their community by offering competitive retirement benefits to their employees,” said Luke Stanton, president of ProTradeNet, a preferred vendor network to Neighborly brand franchise owners, in a statement.
Dawn Purbaugh, owner of Rainbow Restoration of Bothell, Washington, whose employees have all enrolled in a Human Interest plan, highlighted how adding tailored benefit packages helps plan sponsors who employee recruitment and retention. A recent study by Morgan Stanley found employers are increasingly prioritizing 401k plan design, as more candidates and employees search for quality, tailored benefits in their workforces.
“Adding a 401(k) to our benefits package will help hire and retain employees who want to grow with our company and allow them to feel secure and valued,” said Dawn Purbaugh, owner of Rainbow Restoration of Bothell, Washington, whose employees have all enrolled in a Human Interest plan. “It’s difficult to run a business and save for retirement. Implementing a 401(k) gives me peace of mind that I am helping create a solid financial future for myself and our employees.”
Jeff Schneble, CEO at Human Interest, said extending retirement savings to franchises is an important step to one day closing the retirement savings gap.
“Neighborly franchise employees are the people who quite literally build and maintain our communities and neighborhoods across the U.S.,” Schneble said. “Workers in service professions haven’t typically had access to employer-sponsored retirement plans. While they’re building our present, we can help them with an efficient way to bolster their futures. By offering affordable 401(k) plans to its entire franchise network, Neighborly is helping change the trajectory of our national retirement crisis.”
SEE ALSO:
- Employers Prioritize 401k Design for Recruitment and Retention
- Employees More Focused on Financial Benefits This Year
Amanda Umpierrez is the Managing Editor of 401(k) Specialist magazine. She is a financial services reporter with over six years of experience and a passion for telling stories and reporting news. Amanda received her degree in journalism and government and politics at St. John’s University. She is originally from Queens, New York, but now resides in Denver, Colorado with her partner. In her free time, Amanda enjoys running, cooking, and watching the latest drama show.
