Solutions | Payroll, HR and Employee Benefits | Overview: Retirement Services - For Your Clients
Paychex 401(k) Plans for Your Clients…
Your small-business clients have a wide range of employer-sponsored retirement plans they can offer their employees, including 401(k), SEP, SIMPLE IRA and profit-sharing plans. With such a wide array of options to choose from, don't be surprised if some of your clients come to you seeking advice and guidance. With the Paychex Partner Program, you can help your clients select an affordable, simple, easy-to-administer 401(k) retirement plan.
With a 401(k) plan administered by Paychex, your clients will enjoy:
- A wide range of investment options- thousands of funds from major fund families
- Enhanced Directed Trustee Services
- The protection of a 3(38) fiduciary when GuidedChoice selects the funds
- Ability to work with their existing Financial Advisor
- Full integration with Paychex payroll
- Safe Harbor Provision to maximize employer benefits
Click to view Simple IRA and 401(k) Safe Harbor Comparison Chart - No added administrative burdens
Your clients will also get:
- $200 off 401(k) plan setup
- Six-month, money-back satisfaction guarantee
- May be eligible for a $500 per year tax credit for 3 years** - for employers with fewer than 100 employees
Common Client Misconceptions about 401(k) Retirement Plans
| "I have a small business; I can't afford a 401(k)." | FACT: Paychex has affordable 401(k) plans to fit firms of any size. |
| "401(k) plans are too complicated to set up and the administrative duties are prohibitive." | FACT: Paychex manages the paperwork, recordkeeping and administrative duties. So your clients are free to focus on what really needs attention: their business. |
| "There's not enough value in a 401(k)." | FACT: A 401(k) plan is an effective way to save for retirement and a powerful tool to attract and retain good employees. |
| "With the state of the economy, my employees are not in a position to save for retirement." | FACT: The sooner your clients' employees start saving for retirement the better. A 401(k) makes it easy to get started. |
To find out more, contact your local Paychex sales representative or call 877.264.2615.
** Small businesses establishing first-time retirement plans may be eligible to receive a tax credit of 50% for annual administrative costs, up to $500, in each of the first three years of the plan. Note: 100% of the employee salary deferrals are invested with 401(k) plans administered by Paychex. Information current at time of publication, January 2013.
