Paychex Ranks No. 1 in Survey of Defined Contribution Recordkeepers

April 14, 2015

Rochester, NY (April 14, 2015) – Paychex, Inc., one of the nation’s leading providers in retirement recordkeeping services for America’s businesses, ranked number one in a recent survey  by Pensions & Investments (P&I) magazine of companies that provide recordkeeping services for defined contribution plans. This marked the fifth consecutive year Paychex has topped the annual Pensions & Investments listing by sponsors.

“We are thankful for this recognition and excited to have maintained our top spot on this annual listing,” said Lonny Ostrander, vice president of Human Resource Services Sales for Paychex. “A 401(k) plan is one of the most valued benefits an employer can offer. At Paychex, we’re proud to be an essential partner in bringing retirement savings to thousands of businesses owners and their employees.”

The Pensions & Investments survey ranked U.S. defined contribution recordkeepers as of December 31, 2014, and showed Paychex with a lead of more than 20,000 sponsors over the second-ranked company.

Following is the list of the top ten defined contribution recordkeepers ranked by sponsors, according to P&I’s survey:

Rank Record Keeper Sponsors
1. Paychex 67,000
2. ADP Retirement 46,773
3. Voya Financial 46,227
4. John Hancock Financial 45,072
5. Ascensus 44,377
6. Nationwide Financial 39,219
7. BofA Merrill Lynch 34,483
8. Principal Financial 34,101
9. MassMutual Financial 32,658
10. Empower Retirement 31,734

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 provisionOwner-only 401(k)401(k) SIMPLESIMPLE IRAProfit-sharing plansIn addition to extensive options for plan sponsors, Paychex also works with financial advisors to help grow retirement plan business through a dedicated team of internal and external wholesalers.

For more information on Paychex 401(K) services, visit www.paychex.com/retirement. Financial advisors interested in partnering with Paychex should visit www.paychex.com/advisors.

Paychex is the preferred payroll and retirement services provider for the American Institute of Certified Public Accountants (AICPA) Trusted Business Advisor Program.

To see the most recent Awards & Recognitions for Paychex, click here.

Tracy Volkmann
Public Relations Program Manager
585-387-6705

Tracy Volkmann

Tracy Volkmann began working at Paychex in July 2014 and currently serves as the public relations program manager. In this role, she is responsible for research PR efforts, as well as all publicity for the company's technology solution, Paychex Flex, and supporting overall goals of the public relations department. Tracy is a graduate of St. Bonaventure University and has a background in collegiate athletic communications, having spent seven years at West Point.