Paychex stays current with regulations affecting advisors and clients.

Update: February 10, 2012: As of July 1, 2012, the U.S. DOL Client Fee Disclosure Rule (ERISA 408 (b)(2)) requires covered service providers to issue a statement to clients that discloses all fees received in association with services to a qualified retirement plan. Paychex is a covered service provider and will issue the Client Fee Disclosure Statements before the plan is adopted, at the point of sale, during the welcome period, or any time there are changes made to fees.

Additionally, the U.S. DOL Participant Fee Disclosure Regulation (ERISA 404(a)) requires plan administrators to provide to participants a disclosure on or before the date they are first able to direct their investments in the plan, which includes plan-related information as well as investment-related information. Service providers are not legally responsible for creating or issuing these documents, but Paychex is providing statements on behalf of its clients well ahead of the August 30, 2012 deadline.

Paychex supports fee-based and commission-based financial advisors.

Paychex knows not all financial advisors are the same. That's why we offer different 401(k) platforms for different types of financial advisors and fee-based planners. Our investment options include flexible open fund select, guided fund select, and fixed fund select platforms with over 5,000 total mutual fund choices, as well as a variety of ways to design your role and compensation.

Paychex does the administrative work.

To help you bring the most value to your clients, Paychex handles the administrative and recordkeeping functions of the 401(k) plan, including plan set-up paperwork, 5500 preparation, statements, and compliance testing. We offer a broad menu of advisor tools to help you meet clients' needs—and grow your own business in the process.