Benefits

Paychex Named One of the Most Ethical Companies in the World.

Paychex is committed to rewarding its employees with a comprehensive and competitive benefit package. From health care plans to retirement planning and wellness programs, we provide our employees with resources to help manage life’s twists and turns at any given time.

What Paychex Offers
Health Care
Medical Coverage (includes vision)
Begins:
1st of the month following date of hire.
Description:
Three options available: Exclusive, Value, and Economy.
Employee Contribution:
Shared expense; employees' biweekly contributions made with pretax dollars.
Prescription Drug Coverage
Begins:
1st of the month following date of hire.
Description:
Employees and their eligible dependents can purchase prescription drugs through a network of participating pharmacies, or through mail-order service.
Employee Contribution:
Shared expense; employees' biweekly contributions made with pretax dollars.
Dental Coverage
Begins:
1st of the month following date of hire.
Description:
Core or Buy-Up options.
Employee Contribution:
Shared expense; employees' biweekly contributions made with pretax dollars.
Flexible Spending Account
Begins:
1st of the month following date of hire.
Description:
Provides employees the option to pay for eligible out-of-pocket medical and/or dependent care expenses from pretax contributions.
Employee Contribution:
Employees' contributions made with pretax dollars.
Health & Wellness
Active Health
Begins:
May vary depending on date of hire.
Description:
Provides employees an opportunity to earn rewards for participating in specified health and wellness activities.
Employee Contribution:
Must meet program requirements.
Health Advocate
Begins:
Date of hire.
Description:
Provides employees and eligible dependents with confidential assistance to understand health care needs, options, and solutions.
Employee Contribution:
100 percent employer-paid.
Employee Assistance Program
Begins:
Date of hire.
Description:
Provides employees and eligible dependents short-term confidential counseling to address personal concerns.
Employee Contribution:
100 percent employer-paid.
Professional Work Life Balance
Begins:
Date of hire.
Description:
Assists employees by providing research and referrals on daily life issues and important life events.
Employee Contribution:
100 percent employer-paid.
Tobacco Use Cessation Program
Begins:
Date of hire.
Description:
Assists employees and their eligible dependents who wish to quit using tobacco.
Employee Contribution:
100 percent employer-paid.
Paychex Ergonomics Process
Begins:
Date of hire.
Description:
Provides employees with resources and tools to achieve a comfortable work station.
Employee Contribution:
100 percent employer-paid.
Time Off
Vacation
Begins:
1st full pay period following date of hire.
Description:
Hire date anniversary-based system. New hires receive 10 days.
Employee Contribution:
100 percent employer-paid.
Floating Holidays
Begins:
1st full pay period following 90 days of employment.
Description:
Four floating holidays per anniversary year.
Employee Contribution:
100 percent employer-paid.
Holiday Pay
Begins:
Date of hire.
Description:
Six paid holidays.
Employee Contribution:
100 percent employer-paid.
Community Volunteerism
Begins:
Date of hire.
Description:
Up to eight hours of paid time off (per calendar year) to volunteer with an approved 501(c)(3) organization.
Employee Contribution:
100 percent employer-paid. Time must be taken during regularly scheduled hours.
Financial Benefits
401(k) Plan
Begins:
Date of hire (approved rollovers accepted).
Description:
Contributions to the 401(k) Incentive Retirement Plan may be made with either pretax or after-tax (Roth) dollars or a combination of both. After one year of employment and after working 1,000 hours, employees are eligible to receive company matching contributions to their account.
Employee Contribution:
1-50 percent of pay. Paychex matches $.50 on each dollar invested through our 401(k) plan, up to a maximum of 4 percent compensation.
Employee Stock Purchase Plan
Begins:
Date of hire.
Description:
Employees may purchase shares of Paychex, Inc. stock at current market value via payroll deduction. No broker dealer fees for employees. Employees may gift shares to family and friends.
Employee Contribution:
Employee contributions made with after-tax dollars.
Finance Fitness Education Program
Begins:
Date of hire.
Description:
Provides financial education in a group setting with topics ranging from personal finances to retirement planning.
Employee Contribution:
100 percent employer-paid.
Income Protection
Sick Pay
Begins:
1st full pay period following 90 days of employment.
Description:
Five to unlimited paid days per anniversary year based on job category. Potential rollover of a portion of unused sick time into the floating holiday bank.
Employee Contribution:
100 percent employer-paid.
Short-Term Disability
Begins:
One month after date of hire.
Description:
After seven calendar days, Paychex pays 60 percent of base pay each week for up to 26 weeks. In addition, we offer a salary continuation benefit based on job category.
Employee Contribution:
100 percent employer-paid.
Long-Term Disability (LTD)
Begins:
One year after date of hire.
Description:
After 26 weeks of qualifying disability, LTD may pay 60 percent of monthly salary (less other income benefits).
Employee Contribution:
100 percent employer-paid.
Workers' Compensation
Begins:
Date of hire.
Description:
Workers' compensation coverage is set by individual state law for employees who are hurt on the job or suffer a job-related illness. Covers necessary medical treatment and may pay a portion of salary after a waiting period if unable to work.
Employee Contribution:
100 percent employer-paid.
Business Travel Accident
Begins:
Date of hire.
Description:
Up to $50,000.
Employee Contribution:
100 percent employer-paid.
Group Term Life Insurance
Employee Basic Life Insurance
Eligible:
1st of the month following date of hire.
Description:
One times annual salary subject to plan maximums.
Employee Contribution:
100 percent employer-paid.
Employee Optional Life and Accidental Death & Dismemberment (AD&D) Insurance
Eligible:
1st of the month following date of hire.
Description:
Up to six times salary (including 1x basic life insurance) and AD&D insurance in multiples of $50,000.
Employee Contribution:
Contribution based on age and tobacco usage. 100 percent employee-paid with after-tax dollars.
Dependent Life Insurance for Spouses
Eligible:
1st of the month following date of hire.
Description:
Up to $250,000.
Employee Contribution:
Contribution based on age and tobacco usage. 100 percent employee-paid with after-tax dollars.
Dependent Life Insurance for Children
Eligible:
1st of the month following date of hire.
Description:
Up to $5,000.
Employee Contribution:
Set cost per month, regardless of number of children enrolled, paid with after-tax dollars.
Personal and Professional Development
Tuition Reimbursement
Begins:
Eligible 1st of the month following date of hire for courses beginning after eligibility date.
Description:
Reimbursed to a maximum of $6,500 per calendar year.
Employee Contribution:
Paychex reimburses for tuition, lab fees, and textbooks on approved courses.
Training Programs
Begins:
Date of hire.
Description:
Recognized nationally by Training magazine's Training Top 125 Award, which ranks businesses according to their level of investment in workforce development.
Additional Employer-Provided Programs
Adoption Assistance
Begins:
One year after date of hire.
Description:
Provides employees with reimbursement of up to $4,000 per child for qualified expenses associated with adopting a child (lifetime limit of two children per employee).
Employee Contribution:
Shared expense.
Employee Discounts/Voluntary Programs
Begins:
Date of hire.
Description:
Provides employees with a variety of national discounts offered through various companies (e.g., childcare, group long-term care insurance, group auto and home insurance, banking services, worldwide travel assistance).
Employee Contribution:
100 percent funded by employee.
Scholarship Program
Begins:
One year after date of hire.
Description:
Provides employees' children a possible award of $1,000 for college enrollment and tuition with the opportunity to renew the award for up to three years.
Employee Contribution:
100 percent employer-paid.
Referral Programs
Begins:
Date of hire.
Description:
Provides eligible employees an award for referring new clients and new employees. ($100 - $2,000).
Employee Contribution:
100 percent employer-paid.
Service Awards
Begins:
Date of hire.
Description:
Thanks employees for contributing to the company's success at five-year intervals.
Employee Contribution:
100 percent employer-paid.

This information is intended to represent benefits for the majority of the population within Paychex, Inc. Other benefits may apply based on job category. Eligibility may be based on full or part-time status. Temporary employees are not eligible for most benefits. This is not a contract or binding agreement and all information is subject to change at the company's discretion. The above information is provided in summary for ease of reference only. For Paychex employees, detailed benefit descriptions are provided and benefits are controlled by plan documents.