Paychex, Inc., one of the nation’s leading providers in 401(k) recordkeeping services, ranks as the largest recordkeeper by total number of defined contribution plans, according to a recent survey by PLANSPONSOR magazine, a national publication dedicated to the pension and retirement industry. Serving 77,000 plans, Paychex has earned this honor for seven consecutive years.
“This honor is a testament to our commitment to helping business owners and their employees save for retirement, as well as partnering with financial advisors to support the growth and success of their work with clients,” said Terry Sukalski, vice president of human resource services sales for Paychex. “Paychex is proud to be a champion of retirement readiness for America’s workforce and to once again earn this recognition, demonstrating our leadership in the 401(k) industry.”
In addition to earning consecutive accolades as the largest recordkeeper by number of plans, Paychex also earned the ranking of largest recordkeeper by total plans with less than $10 million in assets. Paychex was also recognized as one of the leading providers by total number of plans added in 2016, with 14,700 new plans.
For the complete results of the PLANSPONSOR survey, visit www.plansponsor.com/Research.aspx.
Paychex recordkeeping services are part of the company’s suite of retirement offerings, which are designed to meet the needs of businesses of all sizes. Available plan types include:
- Traditional 401(k)
- 401(k) with safe harbor provision
- Owner-only 401(k)
- 401(k) SIMPLE
- SIMPLE IRA
- Profit-sharing plans
Paychex also works with financial advisors to help grow retirement plan business through a dedicated team of wholesalers.
Paychex is the preferred payroll and retirement services provider for the American Institute of Certified Public Accountants (AICPA) Trusted Business Advisor Program.