Paychex, Inc. again ranks among the top 401(k) recordkeepers in America, according to a nationwide survey. The tenth annual survey, conducted by PLANSPONSOR magazine – a national publication dedicated to the pension and retirement industry – ranks 79 defined contribution recordkeepers by total assets reported under administration. The publication also lists the top 10 recordkeepers in 10 categories.
Among companies surveyed, Paychex ranked first by number of plans won in 2007, with an increase of 12,000 new plans. Paychex also placed first by recordkeeping-only plans, with 46,000. By total number of defined contribution recordkeeping plans, PLANSPONSOR ranked Paychex second.
CFO magazine also recently published its 2008 401(k) Providers Guide. Among the 53 providers listed in CFO, Paychex is the largest 401(k) recordkeeper by number of plans.
“Paychex is happy to once again be recognized by these national publications as a leader in the retirement services industry,” said Tony Tortorella, vice president of sales for Paychex’s Human Resource Services division. “Saving for retirement is one of the most important investments you can make in your future. At Paychex, we’re proud to play such a large role in helping our clients and their employees save for retirement everyday.”
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. Additional information is available on the Paychex Web site at http://smallbusiness.paychex.com/benefits/retirement.aspx.
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, 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 572,000 payroll clients nationwide. For more information about Paychex and our products, visit www.paychex.com.
About PLANSPONSOR
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 2008 survey of America’s Top Recordkeepers can be found at www.plansponsor.com.
Media Contact
Laura Saxby Lynch
Director, Corporate Communications
Paychex, Inc.
585-383-3074
lsaxbylynch@paychex.com
