Paychex Recognized by Plansponsor Magazine as a Leader in 401(k)

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ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc., one of the nation’s leading providers of 401(k) recordkeeping services for America’s businesses, ranks as the largest 401(k) recordkeeper by number of plans for the second year in a row, according to a recent national survey from Plansponsor magazine.

The fourteenth annual recordkeeping survey conducted by Plansponsor, a national publication dedicated to the pension and retirement industry, ranked Paychex as the leading provider in the category of total recordkeeping plans, serving 58,000 plans. Having been recognized previously in 2011, this marks the second time Paychex earned this honor.

Paychex also came in first by number of new plans won in 2011 with 12,200, the ninth time Paychex received this honor. Paychex also ranked seventh for net percentage increase in plans from 2010 to 2011. For the complete results of the Plansponsor survey please visit http://www.plansponsor.com/RK_Survey_2012.aspx.

“Paychex is committed to helping America’s small business owners provide the right retirement plan for their businesses,” said Lonny Ostrander, vice president of Human Resources Services Sales for Paychex. “Receiving this national recognition not only reaffirms our capabilities, but demonstrates our experience and knowledge in the industry.”

“The defined contribution market is as strong as ever. 2011 represents the most plans, assets, and participants in the 14 year history of the survey. This continued growth has fostered intense competition among the field of providers, resulting in constant investment and improvement in new products and services to benefit retirement plan sponsors and participants,” said Quinn Keeler, senior vice president of research at Asset International, which publishes Plansponsor magazine.

Paychex 401(k) recordkeeping services are part of the company’s suite of retirement offerings and are designed to meet the needs of small- to medium-sized businesses. They include:

  • Traditional 401(k)
  • 401(k) with safe harbor provision
  • Owner-only 401(k)
  • 401(k) SIMPLE
  • SIMPLE IRA
  • Profit-sharing plans

For more information, visit http://www.paychex.com/employee-benefits/401k-retirement/.

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

About Paychex

Paychex, Inc. (NASDAQ: PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 567,000 payroll clients as of May 31, 2012. For more information about Paychex and our products, visit www.paychex.com.

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Paychex, Inc.
Lisa Fleming, 585-387-6402
Public Relations Program Manager
lfleming@paychex.com
@PaychexNews
media.paychex.com
or
Eric Mower + Associates
Tom Brede, 585-389-1870
Counselor, Public Relations & Public Affairs
tbrede@mower.com

Source: Paychex, Inc.

Released August 3, 2012