Paychex Surpasses 120,000 401(k) Clients
Paychex, Inc. has reached a significant milestone in its 401(k) business, now administering plans for over 120,000 employers as of May 31, 2024. The company has surpassed $51 billion in assets under administration. Notably, the Paychex Pooled Employer Plan (PEP), launched in 2021, has been adopted by 34,000 employers with more than $1 billion in plan assets.
Paychex offers integrated 401(k) solutions with its Paychex Flex® HR suite, providing cost-effective retirement benefits to small and mid-sized businesses. The company's offerings include accessible investment management tools, fee transparency, and investment flexibility. Paychex aims to address the retirement savings crisis in America by providing affordable solutions to companies, enabling 1.5 million Americans to save for their future.
Paychex, Inc. ha raggiunto un traguardo significativo nel suo business 401(k), amministrando ora piani per oltre 120.000 datori di lavoro a partire dal 31 maggio 2024. L'azienda ha superato 51 miliardi di dollari in attivi amministrati. In particolare, il Paychex Pooled Employer Plan (PEP), lanciato nel 2021, è stato adottato da 34.000 datori di lavoro con oltre 1 miliardo di dollari in attivi del piano.
Paychex offre soluzioni integrate per il 401(k) con la sua suite HR Paychex Flex®, fornendo vantaggi pensionistici economici per le piccole e medie imprese. Le offerte dell'azienda comprendono strumenti di gestione degli investimenti accessibili, trasparenza delle commissioni e flessibilità negli investimenti. Paychex mira a affrontare la crisi del risparmio pensionistico in America fornendo soluzioni accessibili alle aziende, permettendo a 1,5 milioni di americani di risparmiare per il loro futuro.
Paychex, Inc. ha alcanzado un hito significativo en su negocio de 401(k), administrando ahora planes para más de 120,000 empleadores a partir del 31 de mayo de 2024. La compañía ha superado $51 mil millones en activos administrados. En particular, el Plan de Empleador Agrupado de Paychex (PEP), lanzado en 2021, ha sido adoptado por 34,000 empleadores con más de $1 mil millones en activos del plan.
Paychex ofrece soluciones integradas de 401(k) con su suite de recursos humanos Paychex Flex®, proporcionando beneficios de jubilación económicos para pequeñas y medianas empresas. Las ofertas de la empresa incluyen herramientas de gestión de inversiones accesibles, transparencia en las tarifas y flexibilidad de inversión. Paychex busca abordar la crisis del ahorro para la jubilación en Estados Unidos proporcionando soluciones accesibles a las empresas, permitiendo que 1.5 millones de estadounidenses ahorren para su futuro.
Paychex, Inc.는 2024년 5월 31일 기준으로 120,000개 이상의 고용주를 위해 401(k) 사업에서 중요한 이정표를 달성했습니다. 회사는 510억 달러 이상의 관리 자산을 초과했습니다. 특히, 2021년에 출시된 Paychex Pooled Employer Plan(PEP)은 34,000명의 고용주가 채택했으며 10억 달러 이상의 계획 자산을 보유하고 있습니다.
Paychex는 Paychex Flex® HR 제품군을 통해 통합된 401(k) 솔루션을 제공하여 중소기업에 경제적인 은퇴 혜택을 제공합니다. 회사의 서비스는 접근 가능한 투자 관리 도구, 수수료 투명성 및 투자 유연성을 포함합니다. Paychex는 미국의 은퇴 저축 문제를 해결하기 위해 기업에 합리적인 솔루션을 제공하여 150만 명의 미국인이 미래를 위해 저축할 수 있도록 돕고자 합니다.
Paychex, Inc. a atteint un jalon important dans son activité 401(k), administrant désormais des plans pour plus de 120 000 employeurs depuis le 31 mai 2024. L'entreprise a dépassé 51 milliards de dollars d'actifs sous administration. Notamment, le Plan d'Employeur Poolifié de Paychex (PEP), lancé en 2021, a été adopté par 34 000 employeurs avec plus de 1 milliard de dollars d'actifs de plan.
Paychex propose des solutions 401(k) intégrées avec sa suite RH Paychex Flex®, offrant des avantages de retraite rentables aux petites et moyennes entreprises. Les offres de l'entreprise comprennent des outils de gestion d'investissement accessibles, une transparence des frais et une flexibilité d'investissement. Paychex vise à répondre à la crise de l'épargne-retraite en Amérique en fournissant des solutions abordables aux entreprises, permettant à 1,5 million d'Américains d'épargner pour leur avenir.
Paychex, Inc. hat einen bedeutenden Meilenstein in seinem 401(k)-Geschäft erreicht und verwaltet jetzt Pläne für über 120.000 Arbeitgeber seit dem 31. Mai 2024. Das Unternehmen hat 51 Milliarden Dollar an verwalteten Vermögenswerten überschritten. Besonders hervorzuheben ist der im Jahr 2021 eingeführte Paychex Pooled Employer Plan (PEP), der von 34.000 Arbeitgebern angenommen wurde und über 1 Milliarde Dollar an Planvermögen verfügt.
Paychex bietet integrierte 401(k)-Lösungen mit seiner Paychex Flex® HR-Suite an, die kostengünstige Altersvorsorgeleistungen für kleine und mittelständische Unternehmen bereitstellt. Das Angebot des Unternehmens umfasst zugängliche Anlageverwaltungs-Tools, Transparenz bei Gebühren und Anlagemöglichkeiten. Paychex verfolgt das Ziel, die Rentenersparnis-Krise in Amerika zu bekämpfen, indem es Unternehmen erschwingliche Lösungen anbietet, die 1,5 Millionen Amerikanern ermöglichen, für ihre Zukunft zu sparen.
- Reached 120,000 401(k) clients, solidifying position as industry leader
- Surpassed $51 billion in assets under administration
- Paychex Pooled Employer Plan adopted by 34,000 employers with over $1 billion in plan assets
- Integrated 401(k) solutions with Paychex Flex® HR suite, reducing administrative costs
- Offering cost-effective retirement benefits to small and mid-sized businesses
- None.
Insights
Paychex has achieved a significant milestone by surpassing 120,000 401(k) clients and managing over
The trend highlighted here is Paychex’s ability to tap into the small and mid-sized business market with their Pooled Employer Plan. This product addresses a key pain point by reducing fiduciary and administrative burdens. The success of such a plan signals a broader market need and Paychex’s rapid adoption rate suggests a competitive advantage. Additionally, legislative support from acts like the SECURE Act and SECURE Act 2.0 may continue to bolster this sector. Long-term, this could translate into sustained growth and market leadership, given the rising focus on retirement security in the U.S.
From a technology perspective, Paychex’s integration of their 401(k) plans with their Paychex Flex HR suite is particularly compelling. It offers seamless user experiences, improving administrative efficiency and compliance. Their mobile-first strategy allows participants easy access to manage their retirement plans, which is a strong value proposition in today’s digital age. The use of automated tools and third-party investment advice also adds a layer of user empowerment and customization, potentially leading to higher user satisfaction and retention rates.
The retirement leader’s Paychex Pooled Employer Plan also reaches 34,000 employers
The Paychex Pooled Employer Plan, launched in 2021 to give business owners an affordable way to provide their employees with a retirement plan with fewer fiduciary and administrative burdens, has fueled growth of the company’s 401(k) offerings and has been adopted by 34,000 employers with more than
“In the midst of a retirement savings crisis in America, we believe it is our purpose to help small- and mid-sized business owners offer an affordable retirement solution for their employees. Paychex enables 1.5 million Americans to save for their future; however, research shows approximately half of
“Legislation like the SECURE Act and SECURE Act 2.0, the introduction of pooled employer plans, and state mandates are helping, but there is more to be done,” Gibson added. “We are committed to educating business owners and industry professionals on available programs, potential tax benefits, and cost-effective plans available for them and their employees. We continue to provide robust retirement products and services, financial advisor and accountant partnership programs, and advocacy in the nation’s capitol, because we acknowledge every American’s right to feel secure in their retirement.”
Paychex 401(k) customers and participants have access to:
- Full integration with Paychex Flex®. Users can integrate their 401(k) plans with the company’s SaaS-based HR suite, Paychex Flex, which supports HR, payroll, insurance, and other services, to reduce administrative time and cost, improve reporting, and help meet fiduciary obligations.
- Pooled Employer Plan option. The Paychex Pooled Employer 401(k) Plan (PEP) gives business owners a simpler, cost-effective way to offer comprehensive retirement benefits to employees. Paychex acts as both plan sponsor and plan administrator of the PEP, reducing employers’ fiduciary and administrative burdens. The PEP is especially well-suited for small to mid-sized businesses that may have been unable to offer a retirement plan due to the lack of affordable plan options, time, or resources needed to manage complex plan administration. PEPs also offer a feature-rich alternative to the growing number of state-mandated retirement plan programs and can be a beneficial option for employers with an existing plan looking to reduce fiduciary and administrative responsibilities.
- Accessible investment management and self-service tools. Paychex solutions allow participants to take control of their experiences. The company's mobile-first technology lets users enroll in, view, and manage their retirement plans in just a few clicks on any device. Other tools—like savings calculators and automatic contribution increases—help participants maximize their retirement savings, and personalized investment advice from third-party experts helps them make more informed decisions for their futures.
- Fee transparency. Paychex plans make visibility a top priority. Participants and employers get clear explanations of any fees they pay related to the account. With a return of concessions feature, most 401(k) plans with Paychex return revenue-sharing payments to the plan, ensuring fee equalization, share class neutrality, and fee transparency.
- Investment flexibility and fiduciary solutions. Plan administrators of single-employer plans receiving services from Paychex can choose from thousands of plan investment choices, with no proprietary requirements, or get help managing plan investments from either a third-party 3(38) investment manager that selects plan investments or 3(21) investment advisor that advises on plan investments to help reduce fiduciary risk.
“Our growth in the 401(k) space has meant that more employees across the
Learn more about Paychex 401(k) and Retirement Services here. Financial services professionals seeking to offer flexible retirement plans to their clients can learn more at Financial Advisor Partnerships with Paychex.
About Paychex
Paychex, Inc. (Nasdaq: PAYX) is an industry-leading HCM company delivering a full suite of technology and advisory services in human resources, employee benefit solutions, insurance, and payroll. The company serves over 745,000 customers in the
1 By 401(k) participating employer count as validated by publicly available information for calendar year 2023.
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Media Contacts
Samantha Jean
Public Relations Program Manager II
Paychex, Inc.
(585) 218-6086
skjean@paychex.com
@Paychex
Source: Paychex, Inc.
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