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401(k) for California Businesses

Deadlines to fulfill the California retirement plan mandate:

• June 30, 2022 — 5 to 49 Employees

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Paychex 401(k) Plan

A More Powerful Option Than the CalSavers Program

  • Fulfills the California state retirement mandate
  • Paychex sets up the plan and helps with plan administration
  • Higher contribution limits so employees can save more, faster
  • Tax savings opportunities, including potential tax credits
  • Payroll/retirement integration—one platform, one provider
  • The experience of the nation’s number one 401(k) plan recordkeeper**
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CalSavers IRA vs. Paychex 401(k) Plan

Contribution Max (2022)

Based on 2022 IRS Contribution Limits



Company Match Option


Yes, at employer’s discretion

Tax Credits for Opening New Plan


Opportunity for up to $5,000 per year, for the first 3 years 

Employer Tasks

Employer processes payroll contributions, updates contribution rates, adds newly eligible, etc. 

Paychex makes administration simpler as your recordkeeper

Simplify Retirement Plan Management With Paychex Flex

Watch our demo to see the power of Paychex Flex, step by step.

  • Empower and Attract Employees

    Empower and Attract Employees

    Innovative retirement self-service tools make it easy for 401(k) participants and employees to access accounts via mobile device or online portal.

  • Make it Easy to Enroll in Your Plan

    Make it Easy to Enroll in Your Plan

    Quick enrollment feature allows employees to sign up for a retirement plan in four clicks.

  • Give Participants Access to their Account

    Give Participants Access to their Account

    Our online dashboard gives an at-a-glance view of accounts and enables participants to make adjustments quickly. They can maximize contributions with the auto-increase feature, check their progress, and select investments.

  • Simplify Complex Plan Management

    Simplify Complex Plan Management

    Complex processes such as investment selection, changing plan contributions, existing and pending loan status, and distribution methods including ACH options are simplified with an easy-to-use dashboard.

Recognized by Industry Experts for Our Innovation, Ethics, and Service 

Plansponsor largest 401k recordkeeper by number of plans
Largest Recordkeeper by Number of Plans

For 10 consecutive years, Paychex has been named the No. 1 401(k) recordkeeper in the country by a number of plans, according to PLANSPONSOR Magazine

2022 world's most ethical companies logo
World's Most Ethical Companies

Paychex was honored by the Ethisphere Institute as one of the World’s Most Ethical Companies for 2022. Being a 14-year honoree underscores Paychex’s commitment to ethical business standards and practices, ensuring long-term value to key stakeholders including customers, investors, and employees.

FORTUNE World's Most Admired Companies 2022
World's Most Admired Companies

Paychex was named to FORTUNE magazine’s 2022 list of the World’s Most Admired Companies, an honor that recognizes companies for their corporate reputation and outstanding financial performance.

Paychex was named a 2021 Stevie® Award silver winner for the Most Valuable COVID-19 Response by a Business Development Team.
Excellence in Sales & Customer Service

For the fifth consecutive year, Paychex has won a Stevie Award for Excellence in Sales & Customer Service. This year, a panel of judges selected Paychex the company’s rapid response to the COVID-19 pandemic as a 2021 silver winner for the Most Valuable COVID-19 Response by a Business Development Team.

Thinking and Planning for the Future

ESET North America uses its retirement benefit to engage its workforce

ESET North America demonstrates how it values its workforce with a 401(k) plan through Paychex that helps employees actively participate and save for retirement while the company benefits from time-saving integration with payroll and compliance.

ESET North America testimonial for Paychex
ESET North America

Offering a 401(k) through Paychex really helped us to recruit and retain the employees, but I also feel good about providing a benefit to the employees that I can stand behind.

Megan Lopez
Sr. HR Generalist
ESET North America

Pooled Employer Plan: The 401(k) Plan Designed for Small to Medium-Sized Businesses

The Paychex Pooled Employer Plan (PEP) makes it easier for business of any size to offer a 401(k) plan, one of the most popular retirement plans with employees.

A business owner considering a PEP Retirement Plan

Find a 401(k) Plan That Fits Your Needs


We have specialists ready to help you understand your plan options and to make sure that you are choosing the plan that best fits your needs.