Paychex Number One in Survey of Defined Contribution Recordkeepers
Paychex, Inc., one of the nation’s leading providers of 401(k) recordkeeping services for America’s businesses, ranked number one in a recent survey by Pensions & Investments (P&I) magazine of companies that manage defined contribution recordkeeping assets. Paychex earned top billing for the sixth consecutive year when ranked by total plan sponsors with an increase of 5.9 percent, from 67,000 to 71,000, from September 30, 2014 to September 30, 2015.
“We appreciate this recognition and are thrilled to remain at the top of Pension & Investment’s annual listing,” said Lonny Ostrander, vice president of human resource services sales for Paychex. “One of the most valued benefits an employer can offer is a 401(k) plan, and Paychex is very proud to be an essential partner in bringing thousands of businesses owners and their employees retirement savings.”
The P&I survey ranked U.S. defined contribution recordkeepers as of Dec. 31, 2015, and showed Paychex with a lead of more than 17,000 plan sponsors over the second-ranked company.
Paychex Retirement Services includes a full suite of retirement services designed to meet the needs of businesses of all sizes. In addition to extensive options for plan sponsors, Paychex Retirement Services also works with financial advisors to help grow retirement plan business through a dedicated team of wholesalers, sales representatives, and advisor support experts.