Employee Benefits
Paychex is committed to rewarding our employees with a comprehensive and competitive benefit package. From health care plans to retirement planning and wellness programs, we provide our employees with the tools to help manage life's little turns.
- Paychex now offers medical, pharmacy, dental, and life insurance benefits to same-gender domestic partners.
- Paychex values the work our employees do for the community; therefore, an employee is eligible for up to eight hours paid time off, per calendar year, to volunteer with an approved 501(c) (3) organization.
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
Medical Coverage (includes vision) |
1st of the month following date of hire. |
Three options available. Two Preferred Provider Organization Options and Health Fund Option. |
Shared expense. Employees' biweekly contributions made with pretax dollars. |
Prescription Drug Coverage |
Enrollment occurs when electing medical coverage. |
Two options available. Employees and their eligible dependents can purchase prescription drugs through a network of participating pharmacies or through a convenient mail-order service. |
Shared expense. Employees' biweekly contributions made with pretax dollars. |
Dental Coverage |
1st of the month following date of hire. |
Two options available: Core Option and Buy-Up Option. |
Shared expense. Employees' biweekly contributions made with pretax dollars. |
Flexible Spending Account(s)
Medical/Dental Dependent Care |
1st of the month following date of hire. |
Provides employees the option to pay for eligible out-of-pocket medical/dental and/or dependent care expenses from pretax contributions. |
Employees' contributions made with pretax dollars. |
Paychex is dedicated to helping and encouraging our employees and their dependents to live healthy lifestyles.
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
WellPower — The Paychex Wellness Program |
Date of hire. |
A unique program that allows employees to better understand their health by completing a health assessment questionnaire, and gives them insight into important health measurements (cholesterol levels, blood pressure, etc.) through an on-site screening. Participants can create a personal health improvement plan by contacting a Personal Wellness Coordinator. Click here for more information on the Paychex WellPower program. |
100% employer-paid (no cost to employee). |
Health Advocate |
Date of hire. |
Provides employees and their eligible dependents (including parents, step-parents and in laws) with confidential assistance in understanding health care needs, options, and in finding solutions. |
100% employer-paid (no cost to employee). |
Employee Assistance Program |
Date of hire. |
Provides employees and their eligible dependents short-term confidential counseling which addresses personal concerns (family, marital, parenting, conflict resolution, drug and/or alcohol abuse, etc.). |
100% employer-paid (no cost to employee). |
Professional Work Life Balance |
Date of hire. |
Assists employees by providing research and referrals on daily life issues and important life events. |
100% employer-paid (no cost to employee). |
Tobacco Use Cessation Reimbursement Program |
Date of hire. |
Assists employees and their eligible dependents who wish to quit tobacco use by reimbursing a portion of the cost of cessation programs and services. |
Shared expense. |
Paychex Ergonomics Process |
Date of hire. |
Provides employees with resources and tools to achieve a comfortable work station. |
100% employer-paid (no cost to employee). |
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
Vacation |
1st full pay period following date of hire. |
Hire date anniversary-based system. New hires receive 10 days. |
100% employer-paid. |
Floating Holidays |
1st full pay period following 90 days of employment. |
Four floating holidays per anniversary year. |
100% employer-paid. |
Holiday Pay |
Date of hire. |
Six paid holidays. |
100% employer-paid. |
Community Volunteerism |
Date of hire. |
Up to eight hours of paid time off, per calendar year, for the express purpose of volunteering with an approved 501(c) (3) organization. |
100% employer-paid. Time must be taken during regularly scheduled hours. |
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
401(k) Plan |
Date of hire
(approved rollovers accepted). |
401(k) Incentive Retirement Plan contributions made pretax to plan. Employer contributions 100% vested immediately (for employees who work 1,000 hours or more per calendar year). Employee contributions 100% vested immediately. |
Employee contribution: 3% - 50% of pay. Paychex matches 100% of first 3% and 50% of the next 2% of eligible wages contributed by employee, on the first of the month following one year of service in which 1,000 hours are worked. |
Employee Stock Purchase Plan (ESPP) |
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% employer-paid (no cost to employee). |
| Benefit |
Coverage Begins |
Description |
Employee 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% employer-paid (no cost to employee). |
Short-Term Disability |
One month after date of hire. |
After seven calendar days, Paychex pays 60% of base pay each week for up to 26 weeks. In addition, we offer a salary continuation benefit based on job category. |
100% employer-paid (no cost to employee). |
Long-Term Disability |
One year after date of hire. |
After 26 weeks of qualifying disability, LTD may pay 60% of monthly salary (less other income benefits). |
100% employer-paid (no cost to employee). |
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 unable to work. |
100% employer-paid (no cost to employee). |
Business Travel Accident |
Date of hire. |
Up to $50,000. |
100% employer-paid (no cost to employee). |
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
Employee Basic Life Insurance |
1st of the month following date of hire. |
One times annual salary subject to plan maximums. |
100% employer-paid (no cost to employee). |
Employee Optional Life and Accidental Death & Dismemberment (AD&D) Insurance |
1st of the month following date of hire. |
Up to six times salary including basic life insurance and five times AD&D insurance. |
Contribution based on age and tobacco usage. 100% employee-paid with after-tax dollars. |
Dependent Life Insurance for Spouses |
1st of the month following date of hire. |
Up to $100,000. |
Contribution based on age and tobacco usage. 100% employee-paid with after-tax dollars. |
Dependent Life Insurance for Children |
1st of the month following date of hire. |
Up to $4,000 |
Set cost per month, regardless of number of children enrolled, paid with after-tax dollars. |
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
Tuition Reimbursement |
Eligible 1st of the month following date of hire for courses which begin after eligibility date. |
Reimbursed to a maximum of $6,500 per calendar year. |
Paychex reimburses for tuition, lab fees, and textbooks on approved courses. |
Training Programs |
Date of hire. |
23 Paychex training programs allow employees to be eligible to receive college credit toward their associate's or bachelor's degree. Recognized nationally by winning Training magazine's Training Top 125 Award, which ranks businesses according to their level of investment in workforce development. |
Registration with the American Council on Education is paid by Paychex. |
Paychex cares about employees and their families and their ability to maintain a work/life balance.
| Benefit |
Coverage Begins |
Description |
Employee 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.
Ex. Childcare, group long term care insurance, group auto and home insurance, banking services, and worldwide travel assistance services. |
100% 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% employer-paid. |
Paychex values the contributions of our employees and welcomes their referrals of potential employees and clients. We reward them by providing monetary bonuses and gifts. The program includes:
| Benefit |
Coverage Begins |
Description |
Employee Contribution |
Referral Programs |
Date of hire. |
Provides eligible employees an award for referring new clients and new employees. ($100-$2,000) |
100% employer-paid. |
Service Awards |
Date of hire. |
Thanks employees for valuable contributions to the company's success at five year intervals. |
100% employer-paid. |
Since the company's founding in 1971, Paychex has made a commitment to promoting from within and it shows. It is obvious in the level of job satisfaction Paychex employees have. It is 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 heights that match their dreams. On the Paychex Intranet, our Internal Career Center houses information about open positions 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's employees, detailed benefit descriptions are provided and benefits are controlled by plan documents.
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