2018
Plan Administration Guide, Part Two: Recordkeeping Survey

Breaking down the DC industry by plan type.

Introduction

As a complement to our Defined Contribution Survey—which measures how satisfied DC clients are with their providers—our annual Recordkeeping Survey gives employers the chance to see exactly which products and services each provider offers, as well as listing information on total assets and overall client demographics. This survey, as opposed to the DC survey, is comprised of data collected from the providers themselves.

Paychex, Inc.

www.paychex.com
Assets ($MM) by Plan Type
Ranked #29$30,133
401(k)$29,973
403(b)$0
457 $0
NQDC$0
All Other$160
Participants by Plan Size
Ranked #28870,000
<$10MM847,000
$10MM – $50MM23,000
>$50MM – $200MM0
>$200MM – $1BMM0
>$1B0
Plans by Channel
Direct sold
Intermediary sold
57%
43%
Service Offerings
New client restrictionsNo company stock; no Taft-Hartley or union plans
Multiple service modelsYes
Offers corporate trustee servicesYes
Internal ERISA counsel2
Will act as §3(16) fiduciaryYes - via third party
Participant Services
Call center hoursWeekdays: 8 a.m. - 8 p.m. ET
Online chat supportYes
Mobile appYes
Managed account optionsGuidedChoice
Retirement Income
Displays retirement income estimate on statementsNo
Offers in-plan guaranteed retirement income productsNo
Offers out-of-plan annuity bidding serviceNo
Recordkeeping Platform FIS Omni, Proprietary and other systems