2020
Recordkeeping Survey

Providers

Paychex, Inc.

www.paychex.com
Assets ($MM) by Plan Type
Ranked #29$34,280
401(k)>99%
403(b)0%
457 0%
NQDC0%
Other<1%
Participants by Plan Size
Ranked #251,039,700
<$10MM96%
$10MM – $50MM3%
>$50MM – $200MM1%
>$200MM0%
Plans by Count
Ranked #190,105
% Third-party administration
Not Reported
Related Offerings
HSA integrationDirect
Student Loan Repaymentvia 3rd party
Financial wellness options1
Service Offerings
New client restrictionsNo Taft Hartley plans, defined benefit plans, nor union plans and cannot support company stock.
Multiple service modelsYes
Offers corporate trustee servicesYes - via partnership/other strategy
# of 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 appNo
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 PlatformFIS Omni; Proprietary recordkeeping system