Retirement Plan Management

When you choose a retirement plan, you're positively affecting the financial future of your business and employees. Your company becomes more competitive in the employment marketplace, you retain valued employees, you and your business can save on taxes, and your workforce feels more confident as they plan for their future. Your company wins, your employees win, and you win.

Whatever your requirements are for successful retirement fund management, consider how Paychex, one of the nation's top 401(k) recordkeepers for more than a decade*, can help.

Payroll and 401(k) Integration

Why double your paperwork? Your payroll data can be seamlessly integrated into your 401(k) plan for the ultimate payroll and retirement plan management. Enjoy a reduction in administrative burdens, greater efficiency, and improved data accuracy.

Customizable and Scalable

Tailor your retirement plan to your company's changing requirements. Paychex offers many options, including automatic enrollment, contribution flexibility, safe harbor, profit sharing, personalized investment advice from GuidedChoice®, and more.

Investment Choices

Paychex provides a wide range of investment choices for every type of company and business need. Paychex is not an investment manager and has no proprietary investment requirements, so you are free to choose what’s best for your participants with options that work for you.

 

Make It Simple – Choose from preselected fixed menu options from nationally recognized investment providers with our Fixed Fund Select.

 

Get Help – With Guided Fund Select we offer services from third party experts who will select, monitor and replace as needed your plan's investments—reducing your fiduciary liability. 

 

Choose Your Own – Our Open Fund Select offering gives you control with access to thousands of investment options from various investment companies and allows you to use an advisor of your choice.

Fiduciary Responsibility and Solutions

Rules and regulations for retirement plans are complex and evergreen. You don’t have to be an expert — and you don’t have to do it all yourself. Paychex stays up to date on requirements for plan sponsors and offers access to solutions that can help mitigate your risk. 

  • 3(38) Investment Management - Our solution, through a third-party, provides a 3(38) fiduciary who assumes responsibility for all investment activities. This fiduciary has full discretion to choose, manage, or remove investments within the employee benefit plan. This solution is built into our Guided Fund Select platform.
  • 3(21) Investment Guidance – This service employs a third-party 3(21) fiduciary who will provide a list of investments appropriate for use in retirement plans from which you (and your advisor) can choose. This fiduciary may recommend changes to the investment lineup based on research and monitoring, however the Plan Sponsor makes the actual investment decisions.
  • 3(16) Plan Administration - The third-party 3(16) fiduciary is responsible for the day-to-day administration, including filing Form 5500, monitoring plan operations, distributing annual notices, and approving distributions and loan requests
  • Custodial and Trust Services - The Paychex solution offers safekeeping of assets, including reconciliation and reporting through a third party.
  • Fee-Levelized 401(k) - With our Return of Concessions feature (ROC), Paychex does not retain any form of revenue-sharing payments (“concessions”) that are routinely provided by investment companies to 401(k) plan recordkeepers or third-party administrators. Instead, these concessions are returned to the participant accounts from which they were generated. This allows you to prioritize the best interests of the participants by adopting fiduciary best practices, including unbiased investment options, no hidden fees, and equalization of fees for all plan participants.

Access Anytime

Manage your plan whenever and wherever you need, no matter how you like to work – mobile, online, or on the phone with a live, U.S.-based person. Paychex makes it possible with tools for you, your employees, and your advisor.

 

2 MetLife Ninth Annual Study of Employee Benefits Trends, 2011.
3 Employee Benefit Research Institute (EBRI) 2013 Retirement Confidence Survey.
4 Survey by Harris Interactive, sponsored by ShareBuilder 401(k),a subsidiary of ING Direct.
5 Harris Interactive Inc. Retirement Made Simpler. 2011.