Paychex 401(k) and Retirement Plans
A retirement plan is part of a competitive offer. Paychex sets up 401(k) plans for businesses of every size, and a federal tax credit can help cover the cost of setting one up.
Paychex 401(k) and Retirement Plans
A retirement plan is part of a competitive offer. Paychex sets up 401(k) plans for businesses of every size, and a federal tax credit can help cover the cost of setting one up.
Overview
When you’re competing for hires, benefits are part of the offer.
Paychex offers 401(k) plans for businesses of every size, from an owner-only Solo 401(k) to a pooled employer plan that simplifies administration. Employees can enroll in four clicks and manage their accounts in Paychex Flex.
If you have 50 or fewer employees, a federal tax credit can cover 100% of the eligible costs of setting up and running your plan, up to $5,000 a year for the first three years. Businesses with 51 to 100 employees can get 50%.
- Pooled employer plan (PEP): shares plan administration and can reduce fiduciary liability
- Traditional 401(k): pre-tax or Roth contributions, with a safe harbor option
- Solo 401(k): for owner-only businesses
How it works
Book a call with our team. We’ll learn about your business and, if a Paychex plan is a good fit, connect you with the Paychex retirement team.
Disclaimer
Tax credit eligibility and amounts depend on your business. Talk to your tax advisor about your situation.
Learn more
See how the federal tax credit for setting up a retirement plan works on the IRS website.
