Paychex Again Ranks Among Top 401(k) Recordkeepers In U.S.
ROCHESTER, N.Y.--(BUSINESS WIRE)-- Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, again ranks among the top 401(k) recordkeepers in America, according to three recent national surveys from Plansponsor, CFO, and Business Insurance magazines.
The twelfth annual recordkeeping survey, conducted by Plansponsor - a national publication dedicated to the pension and retirement industry - ranked Paychex first by number of plans won in 2009, with an increase of 10,500 new plans. Paychex also ranked first by recordkeeping-only plans, with 50,000. By total number of recordkeeping plans, Paychex came in at the third highest spot.
CFO magazine also recently published its 2010 401(k) Providers Guide. Among the 50 providers listed, Paychex is the largest 401(k) recordkeeper by number of plans.
Additionally, Paychex ranked among the top ten largest 401(k) plan administrators in a recent survey conducted by Business Insurance magazine and published on www.businessinsurance.com.
"Through payroll integration, Paychex makes it easy for virtually any business in America to have a retirement plan," said Janice Nearen-Bell, vice president of sales for Paychex's Human Resource Services division. "We're proud of our market position and the role Paychex plays in helping business owners and their employees save for retirement."
Paychex 401(k) plans are part of the company's suite of retirement services 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, and profit-sharing plans. For more information, visit: http://www.paychex.com/products/benefits.aspx.
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(R). 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 536,000 payroll clients nationwide as of May 31, 2010. For more information about Paychex and our products, visit www.paychex.com.
Source: Paychex, Inc.
Released August 24, 2010