Paychex Inc., has been recognized as the largest recordkeeper of contribution plans, based on the newest survey by PLANSPONSOR magazine.
This is the seventh year that Paychex has been given this honor, as it serves 77,000 plans. PLANSPONSOR magazine is a national publication that highlights information on the pension and retirement industry and the companies involved in it.
Paychex includes plans for Traditional 401(k), 401(k) with safe harbor provision, Owner-only 401(k), 401(k) SIMPLE, SIMPLE IRA and Profit-sharing plans.
In addition to the multitude of plans available, Paychex is happy to discuss information with financial advisers in order to help increase retirement plan business.
“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,” Terry Sukalski, vice president of HR resource services sales for Paychex, said.
Paychex has also been ranked as the largest recordkeeper with fewer than $10 million is assets and was ranked as the leader in numbers added in 2016 — 14,700 new plans.
