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2006 PLANSPONSOR magazine survey lists Paychex No. 1 by number of new plans
Rochester, NY (July 13, 2006) - Paychex, Inc. again ranks among the top 401(k) recordkeepers in America, according to a national survey. The eighth annual survey, conducted by PLANSPONSOR magazine, ranks 83 defined contribution recordkeepers by total assets reported under administration. In addition, PLANSPONSOR, a national publication dedicated to the pension and retirement industry, lists the top 10 recordkeepers in five categories. Among companies surveyed, Paychex was ranked first by number of plans won in 2005, with an increase of 9,456 new plans.
By total number of defined contribution recordkeeping plans, PLANSPONSOR ranked Paychex fourth. CFO magazine also recently published its 2006 401(k) Providers Guide. Among the 68 providers listed in CFO, Paychex is the largest 401(k) recordkeeper by number of plans, with 36,449.
"At Paychex, we believe that saving for retirement is a major goal of our clients and their employees, and we will continue to strive to maintain our position as the premier provider of integrated payroll and retirement plan services in America to help them achieve that goal," said Tony Tortorella, vice president of sales for Paychex's Human Resource Services division. "Paychex is honored to be ranked so highly by these two respected publications. I thank our customers for their trust and our employees for providing the highest quality sales and service."
Paychex's retirement services are designed to meet the needs of small- to medium-sized businesses and include 401(k), 401(k) safe harbor, owner-only 401(k), 401(k) SIMPLE, SIMPLE IRA, and profit-sharing plans. Additional information is available on the Paychex Web site at http://www.paychex.com/retirement/services.html.
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