Paychex Again Ranks Among Top 401(k) Recordkeepers In U.S.
Paychex, Inc., one of the nation’s leading providers in retirement recordkeeping services for businesses, ranks as the largest recordkeeper by total number of defined contribution plans, according to a recent survey by PLANSPONSOR magazine, a national publication dedicated to the pension and retirement industry. Serving 72,000 plans, Paychex has earned this honor for six consecutive years.
“Paychex is proud to once again earn this recognition, demonstrating our leadership in the 401(k) industry,” said Lonny Ostrander, vice president of human resource services sales for Paychex. “The achievement is a testament to our commitment to helping business owners, and their employees, save for retirement, as well as partnering with financial advisors to support the growth and success of their work with clients.”
For the complete results of the PLANSPONSOR survey, click here.
In addition to earning consecutive accolades as the largest recordkeeper by number of plans, Paychex has also ranked as the top provider by the number of plans won ten times throughout the survey’s 18-year history.
Paychex recordkeeping services are part of the company’s suite of retirement offerings, which are designed to meet the needs of businesses of all sizes. Available plan types include:
- Traditional 401(k)
- 401(k) with safe harbor provision
- Owner-only 401(k)
- 401(k) SIMPLE
- SIMPLE IRA
- Profit-sharing plans
Paychex also works with financial advisors to help grow retirement plan business through a dedicated team of wholesalers.
Paychex is the preferred payroll and retirement services provider for the American Institute of Certified Public Accountants (AICPA) Trusted Business Advisor Program.