Paychex Enhances 401(k) Plan Participant Website

New features include a simplified enrollment process and ability to set automatic contribution increases.

Paychex, Inc. has enhanced its 401(k) participant dashboard, expanding retirement plan access, understanding and investment management through a series of new features.

New features include:

  • A simplified enrollment process. In as a few as four clicks, participants can immediately enroll in a plan from their phone, tablet, or desktop device.
  • Tools to better understand contribution impact. Participants can see how their savings today translate into monthly income during their retirement years.
  • Expanded plan accessibility. With the ability to enroll, view, and change 401(k) options from any device, participants have greater plan access. Users can also easily switch the dashboard from English to Spanish with a click of a button.
  • Opportunities to maximize retirement savings. Participants can make the most of their retirement savings potential with the ability to set automatic contribution increases.
  • Convenient investment management. Through a simplified investment review and selection process, investments can easily be monitored and adjusted by the participant as they see fit.
“In response to gaps in retirement readiness, Paychex is continually investing in tools to increase 401(k) participation,” says Paul Davidson, director of product management at Paychex. “Our new participant dashboard makes the process of enrolling in a 401(k) simpler than ever before, and as a result, we’re already seeing increased participation rates. The enhanced dashboard provides a unique combination of tools and resources that empower participants to begin the process of confidently preparing for retirement.”