Paychex Again Ranks Among Top 401(k) Recordkeepers in U.S.
2007 PLANSPONSOR magazine survey lists Paychex No. 1 by number of new plans
ROCHESTER, N.Y.--(BUSINESS WIRE)--
Paychex, Inc. again ranks among the top 401(k) recordkeepers in America, according to a national survey. The ninth annual survey, conducted by PLANSPONSOR magazine, ranks 78 defined contribution recordkeepers by total assets reported under administration. In addition, PLANSPONSOR, a national publication dedicated to the pension and retirement industry, lists the top 10 recordkeepers in five categories. Among companies surveyed, Paychex was ranked first by number of plans won in 2006, with an increase of 11,000 new plans.
By total number of defined contribution recordkeeping plans, PLANSPONSOR ranked Paychex third. CFO magazine also recently published its 2007 401(k) Providers Guide. Among the 58 providers listed in CFO, Paychex is the largest 401(k) recordkeeper by number of plans, with 41,000.
"Paychex is delighted to once again be recognized as a leader in the retirement services industry by these national publications," said Tony Tortorella, vice president of sales for Paychex's Human Resource Services division. "At Paychex, we believe that delivering the very best sales and service experience is what makes us such a great company to do business with. We're proud to have such an important role in helping our clients and their employees save for retirement."
Paychex's retirement services are designed to meet the needs of small- to medium-sized businesses and include 401(k), 401(k) safe harbor, owner-only 401(k), 401(k) SIMPLE, SIMPLE IRA, and profit-sharing plans. Additional information is available on the Paychex Web site at http://www.paychex.com/retirement/services.html.
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, health insurance, workers' compensation administration, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices and serves over 561,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
PLANSPONSOR magazine is a leading authority on retirement issues. PLANSPONSOR.com provides comprehensive news and commerce services dedicated solely to helping employers navigate the complex world of retirement plans on behalf of their employees. A copy of PLANSPONSOR's 2007 survey of America's Top Recordkeepers can be found at www.plansponsor.com.
Source: Paychex, Inc.
Released July 26, 2007