Retirement Administration and Recordkeeping
Paychex is a full-service retirement plan provider with robust recordkeeping and plan management services for your business.
Paychex can integrate 401(k) data with Paychex Payroll to greatly simplify plan administration, while helping ensure the accuracy of your participants' information.
Why Combining Payroll Processing and 401(k) Administration Makes Sense
- Peace of mind — Employees money invested with the correct payroll funds processed.
- Security — Ability to rely on a trusted payroll-processing firm.
- Regulatory responsibility — Process and provide quarterly management reports, compliance testing results, participant statements, and annual IRS forms.
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Forms & Documentation
Paychex prepares federal Form 5500 annually and Forms 1099-R and 945 as required, as well as all required legal documents, including the corporate resolution, adoption agreement, and Summary Plan Description.
Paychex performs daily valuations on all account balances, performs quarterly nondiscrimination testing, and provides vital management reports and participant statements.
Paychex models and manages any loans on your participants' retirement account assets.