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401(k) and Retirement Services

As the nation’s number one 401(k) recordkeeper, we know how to administer retirement plans for your business and your employees. From enrollment to plan maintenance, we take care of the details for any size business. Our all-in-one payroll and benefits solution streamlines plan management and controls costs. When payroll meets retirement benefits in a single platform, everything is simpler.

Affordable 401(k) Plans for Any Sized Business

Small business owners may not think they can afford to offer a 401(k) plan to their employees. We can help you find the right plan to allow your employees to achieve their retirement goals while putting tax savings in your pocket. To get started, talk to one of our retirement specialists today.

Converting Your Retirement Plan is Simple

We are not only successfully onboarding thousands of 401(k) plans each year, but we can also work with your current provider to make switching to Paychex simple — including handling filing documents, setting up payroll processing, transferring assets, and re-enrolling employees into the new plan. We'll also work with you to establish your plan's fund lineup, customize based on the parameters of the plan, and build new documents. If you're thinking of making a switch, talk to us.

Our Retirement Plan Options

  • Bundled recordkeeping with payroll integration
  • Pooled Employer Plan (PEP) 
  • 401(k) administrative services with any payroll provider
  • 403(b) administrative services
  • Standalone third-party administration services (TPA)
  • Recordkeeper-only services
  • Owner-only 401(k) and Solo 401(k) for sole proprietors

Still trying to figure out which plan is best for you? Read our Retirement Planning 101 Guide.


Retirement services

Simplify Retirement Plan Management with Paychex Flex

Paychex Flex is our all-in-one solution for all things HR — making it easier to manage your retirement offerings.

  • Empower and Attract Employees

    Empower and Attract Employees

    Innovative retirement self-service tools make it easier 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

    The quick enrollment feature allows employees to sign up for a retirement plan in four clicks. When you integrate payroll, you can easily see who is eligible for your chosen retirement plan. This means you don't have to track eligibility separately, saving you time to focus on your business. 

  • 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 manage their retirement 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.

What Makes Paychex the Most Experienced Retirement Plan Provider

All-in-one service

From finding you the right plan to set-up and ongoing maintenance, we help you take care of the details. You’ll can count on us to be a trusted and experienced provider, with a dedicated support team who are always ready to help.

Save time and money — combine your 401(k) with payroll

Combining retirement and payroll administration simplifies management, reduces errors, and saves you time and money. Our Paychex Flex® platform can improve reporting accuracy, collect census data, and enable better compliance — all so you can meet your fiduciary obligations.

Design a plan to meet business and employee needs

We’ll help you understand the different advantages of each plan so you can find one that best fits the needs of your employees.

Investment choice and fee transparency

With our open architecture platform, you can choose from thousands of investment options with no proprietary requirements. Fee transparency means you know exactly what you’re paying for, and our return of mutual fund revenue share policy gives revenue share payments from mutual funds back to participants.

Provide mobile access for you and your employees

Our mobile self-service apps give you and your employees 24/7 access to your accounts. You can check retirement contribution amounts, re-balance your account, review investment performance, and auto-enroll with just a few clicks.

Get support from set up to recordkeeping

Our highly trained, U.S. based retirement specialists will be there to help you select and administer the right plan for your business and employees. Do you have a financial advisor? We work routinely with financial advisors to support them as well as their clients.

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

The Paychex Pooled Employer Plan (PEP) makes it easier for businesses of any size to offer one of the most popular retirement plans for employees. While you reap the benefits of offering a retirement plan, we oversee plan set-up, implementation, monitoring, enrollment, and other duties. Learn why a PEP could be a retirement game-changer for your business. 

A business owner considering a PEP Retirement Plan

Save More on Taxes with the SECURE Act

The SECURE act offers businesses the ability to establish a retirement plan and lower their tax liability. Your business can take advantage of tax credits of up to $5,500 per year, which includes a $500 credit for implementing automatic enrollment in the plan, for three years, if you meet eligibility requirements.  These start-up tax credits go towards the costs of starting a new 401(k) plan. Only new plans are eligible for these tax credits.

Business owner working on her laptop

Thinking and Planning for the Future

ESET North America uses its retirement benefit to engage its workforce

ESET North America, a security software system, 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

Retirement Services FAQs

  • What are retirement services?

    What are retirement services?

    Retirement services cover the full range of services needed over a plan’s life, particularly for a business or organization managing multiple plans. These can include plan design, investment, conversion, set-up, enrollment, administration, and compliance testing.

  • What are the most common retirement plans?

    What are the most common retirement plans?

    Employers most commonly use 401(k) plans because of their flexible plans designs and the ability to save much more than other retirement plans such as IRAs.

  • What are the different types of 401(k) plans?

    What are the different types of 401(k) plans?

    There are many types of 401(k) retirement plans, with different rules that govern each: 

    • Traditional 401(k): An employer-sponsored retirement plan that allows employees to make pre-tax contributions via payroll deduction. Investment earnings and contributions are tax-deferred until they are withdrawn. Employers can choose to make matching contributions to the plan, although it's not required as part of a traditional 401(k) plan. 
    • Safe Harbor 401(k): This plan exempts an employer from most annual nondiscrimination testing that is required with traditional 401(k) plans if the employer provides contributions to employees' accounts that are fully vested when made. 
    • SIMPLE 401(k): Built specifically for small businesses with 100 employees or fewer, SIMPLE 401(k) plans are not subject to annual nondiscrimination testing that applies to traditional 401(k) plans. The employer is required to make employer contributions that are fully vested. 
    • Pooled Employer Plan: A professionally administered retirement plan that allows employers of any size to pool assets into a 401(k) plan. Since resources are pooled, there's reduced fiduciary liability, simplified plan administration for employers, and potential cost savings for participating employers.
    • 403(b): A tax-sheltered annuity or TSA plan offered by public education systems and certain 501(c)(3) tax-exempt organizations.

    There are pros and cons to each, but businesses tend to use 401(k) plans because they flexible and enable employees to save more. A retirement specialist can review the different plan descriptions and help you decide which one is best for your business.

1Largest 401(k) recordkeeper by number of plans, PLANSPONSOR magazine, 2020