Benefits

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

BenefitCoverage BeginsDescriptionEmployee Contribution
Medical Coverage (includes vision) 1st of the month following date of hire Three options available: Exclusive, Value, and Economy Shared expense; employees' biweekly contributions made with pretax dollars
Prescription Drug Coverage Enrollment occurs when electing medical coverage. Employees and their eligible dependents can purchase prescription drugs through a network of participating pharmacies, or through mail-order service. Shared expense; employees' biweekly contributions made with pretax dollars.
Dental Coverage 1st of the month following date of hire. Core option or Buy-Up option Shared expense; employees' biweekly contributions made with pretax dollars.
Flexible Spending Account 1st of the month following date of hire. Provides employees the option to pay for eligible out-of-pocket medical and/or dependent care expenses from pretax contributions. Employees' contributions made with pretax dollars.

Health & Wellness

BenefitCoverage BeginsDescriptionEmployee Contribution
Active Health May vary depending on date of hire. Provides employees an opportunity to earn rewards for participating in specified health and wellness activities. Must meet program requirements.
Health Advocate Date of hire. Provides employees and eligible dependents with confidential assistance to understand health care needs, options, and solutions. 100 percent employer-paid.
Employee Assistance Program Date of hire. Provides employees and eligible dependents short-term confidential counseling to address personal concerns. 100 percent employer-paid.
Professional Work Life Balance Date of hire. Assists employees by providing research and referrals on daily life issues and important life events. 100 percent employer-paid.
Tobacco Use Cessation Program Date of hire. Assists employees and their eligible dependents who wish to quit using tobacco. 100 percent employer-paid.
Paychex Ergonomics Process Date of hire. Provides employees with resources and tools to achieve a comfortable work station. 100 percent employer-paid.

Time Off

BenefitCoverage BeginsDescriptionEmployee Contribution
Vacation 1st full pay period following date of hire. Hire date anniversary-based system. New hires receive 10 days. 100 percent employer-paid.
Floating Holidays 1st full pay period following 90 days of employment. Four floating holidays per anniversary year. 100 percent employer-paid.
Company-Recognized Holidays
Date of hire. Six paid holidays. 100 percent employer-paid.
Community Volunteerism Date of hire. Up to eight hours of paid time off (per calendar year) to volunteer with an approved 501(c) (3) organization. 100 percent employer-paid. Time must be taken during regularly scheduled hours.

Financial Benefits

BenefitCoverage BeginsDescriptionEmployee Contribution
401(k) Plan Date of hire (approved rollovers accepted). Contributions to the plan may be made with either pretax or after-tax (Roth) dollars, or a combination of both. After one year of employment and working 1,000 hours, employees are eligible to receive company-matching contributions. 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 Date of hire. 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 contributions made with after-tax dollars.
Finance Fitness Education Program Date of hire. Provides financial education in a group setting with topics ranging from personal finances to retirement planning. 100 percent employer-paid.

Income Protection

BenefitCoverage BeginsDescriptionEmployee Contribution
Sick Pay 1st full pay period following 90 days of employment. 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. 100 percent employer-paid.
Short-Term Disability One month after date of hire. After seven calendar days, Paychex pays 60 percent of base pay each week for up to 26 weeks. In addition, we offer salary continuation based on job category. 100 percent employer-paid.
Long-Term Disability (LTD) One year after date of hire. After 26 weeks of qualifying disability, LTD may pay 60 percent of monthly salary (less other income benefits). 100 percent employer-paid.
Workers' Compensation Date of hire.

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.

100 percent employer-paid.
Business Travel Accident Date of hire. Up to $50,000 100 percent employer-paid.

Group Term Life Insurance

BenefitCoverage BeginsDescriptionEmployee Contribution
Employee Basic Life Insurance 1st of the month following date of hire. One times annual salary subject to plan maximums. 100 percent employer-paid.
Employee Optional Life and Accidental Death & Dismemberment (AD&D) Insurance 1st of the month following date of hire.

Up to six times salary (1x basic + 5x voluntary)

AD&D coverage is offered in increments of $50,000 with a maximum of ten times your salary or $500,000 (whichever is less)

Contribution based on age and tobacco usage.100 percent employee-paid with after-tax dollars.
Dependent Life Insurance for Spouses 1st of the month following date of hire. Up to $250,000 Contribution based on age and tobacco usage. 100 percent employee-paid with after-tax dollars.
Dependent Life Insurance for Children 1st of the month following date of hire. Up to $5,000 Set cost per month, regardless of number of children enrolled, paid with after-tax dollars.

Personal and Professional Development

BenefitCoverage BeginsDescriptionEmployee Contribution
Tuition Assistance
Eligible 1st of the month following date of hire for covered degrees and courses beginning after eligibility date for full-time Paychex employees only. Reimbursed to a maximum of $6,500 per calendar year. Paychex reimburses for tuition, lab fees, and textbooks on approved degrees and courses.
Training Programs Date of hire. 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

BenefitCoverage BeginsDescriptionEmployee Contribution
Adoption Assistance One year after date of hire. 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). Shared expense.
Employee Discounts/Voluntary Programs Date of hire. 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) 100 percent funded by employee.
Scholarship Program One year after date of hire. 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. 100 percent employer-paid.
Referral Programs Date of hire. Provides eligible employees an award for referring new clients and new employees. ($100 – $2,000) 100 percent employer-paid.
Service Awards Date of hire. Thanks employees for contributing to the company's success at five-year intervals. 100 percent employer-paid.

Internal Career Opportunities

Since the company's founding in 1971, Paychex has made a commitment to promote from within, and it shows. It's obvious in the level of job satisfaction Paychex employees have. It's demonstrated in the consistent achievements of the company. Most importantly, it shows in the careers that have been built within Paychex.

Employees are given the opportunity, training, and encouragement to climb to the professional heights that match their goals. Our Internal Career Center houses information about open position and how to manage your career at Paychex.

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.

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