ROCHESTER, N.Y., Aug. 1, 2018 /PRNewswire/ -- For the eighth
consecutive year, Paychex, Inc., one of the nation's leading
providers in 401(k) recordkeeping services, has earned the
distinction of being the retirement industry's leader in total
number of defined contribution plans, serving 80,000 plans. The
ranking was included as part of the annual Recordkeeping Survey
published by PLANSPONSOR magazine, a national publication dedicated
to the pension and retirement industry.
"At Paychex Retirement Services, our goal is to help America's
businesses prepare their valued employees for a secure retirement,"
said Terry Sukalski, vice president
of human resource services sales for Paychex. "By offering
customizable and scalable 401(k) solutions, paired with exceptional
service, we're doing just that. Through our partnerships with
business owners, along with a dedicated focus on the financial
advisor community, Paychex is proud to continue to serve more
401(k) plans than any other provider in the retirement
industry."
In addition to earning consecutive accolades as the largest
recordkeeper by number of plans, Paychex also earned the ranking of
largest recordkeeper by total plans with less than $10 million in assets. Paychex was also
recognized as one of the leading providers by total number of plans
added in 2017, with 15,100 new plans.
Solutions from Paychex Retirement Services meet the needs of
businesses of all sizes by delivering:
- Next-level efficiency with full Paychex HCM integration
– The ability to integrate retirement into the full suite of
services from Paychex, including payroll, insurance, and more,
through the Paychex Flex® HCM technology and service platform helps
plan sponsors reduce administrative time and cost, improve
reporting, and meet fiduciary obligations.
- Fee Transparency – Plan sponsors and participants
benefit from a clear picture of the fees they pay. With the Return
of Concessions 401(k) feature, any revenue-sharing payments are
returned to the participant accounts from which they were
generated, ensuring fee equalization, share class neutrality, and
fee transparency.
- Plan accessibility across devices – Plan sponsors can
view and manage every aspect of their plan from a desktop or mobile
device, including employee data, plan administration, documents and
reports, and plan tips and tools.
- Investment flexibility and fiduciary solutions – Plan
sponsors can match investment objectives with acceptable levels of
risk and return, with no proprietary requirements. Paychex provides
the solutions to select from thousands of investment choices, make
it simple with fixed menu options, or get help managing investments
from third party 3(38) and 3(21) fiduciary services experts.
- Participant support – Participants can enroll with ease,
access their accounts through the online portal or mobile app, get
personalized quarterly statements, use the retirement calculator to
check their savings progress, and get personalized investment
advice from third party experts.
For more information on Paychex 401(k) services, visit
www.paychex.com/retirement-services. Financial advisors interested
in partnering with Paychex should visit
www.paychex.com/partnerships/financial-advisors.
For the complete results of PLANSPONSOR's Recordkeeping Survey,
visit www.plansponsor.com/Research.aspx.
Paychex is the preferred payroll, HR, and retirement services
provider for the American Institute of Certified Public Accountants
(AICPA) Trusted Business Advisor Program.
About Paychex Retirement Services
Paychex, Inc. is a leading provider of integrated human capital
management solutions, including a full suite of retirement services
designed to meet the needs of businesses of all sizes. In addition
to extensive options for plan sponsors, Paychex Retirement Services
also works with financial advisors to help grow retirement plan
business through a dedicated team of wholesalers, sales
representatives, and advisor support experts.
About Paychex
Paychex, Inc. (NASDAQ: PAYX) is a
leading provider of integrated human capital management solutions
for payroll, human resources, retirement, and insurance services.
By combining its innovative software-as-a-service technology and
mobility platform with dedicated, personal service, Paychex
empowers small- and medium-sized business owners to focus on the
growth and management of their business. Backed by more than 45
years of industry expertise, Paychex serves over 650,000 payroll
clients as of May 31, 2018, across
more than 100 locations in the U.S. and Europe, and pays one out of every 12 American
private sector employees. Learn more about Paychex by visiting
www.paychex.com, and stay connected on Twitter and LinkedIn.
Media Contact
Lisa Fleming
Manager, Public Relations
Paychex, Inc.
585-387-6402
lfleming@paychex.com
@PaychexNews
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SOURCE Paychex, Inc.