With SECURE Act 2.0, There’s Never Been a Better Time to Start a Retirement Plan
Get Started Now
Fill out our form and we’ll contact you to discuss how a Paychex 401(k) plan can benefit you and your business.
SECURE Act 2.0 Is the Next Game-Changer in Retirement Plans
Don’t miss out on the benefits:
- Up to 100% coverage of retirement plan start-up costs for qualifying businesses – a potential savings of up to $16,5001
- Eligible businesses that choose to give matching or profit-sharing contributions to their employee retirement plan may qualify for an additional tax credit of up to a maximum of $1,000 per employee. This additional employer contribution tax credit is eligible for 5 years from the 401(k) plan start date.2
- Student loan payment matching contributions
- Expanded plan access for long-term, part-time employees
- Enhancement of the Saver’s Credit
- And more
The benefits of working with the nation’s number 1 401(k) plan provider3.
- A 401(k) plan can help attract and keep great employees. Hear what one of our clients has to say.
- We do a lot of the plan administration for you, saving you time so you can focus on your business
- You’ll have easy access to your plan anytime, anywhere with our online platform and mobile app. We also have live service partners ready to assist you
- Employers who adopt a 401(k) retirement plan provided by Paychex will satisfy state retirement mandates. Find out what your state requires.
Affordable 401(k) Plans for Any Sized Business
Whether you have one employee or 1000, we can help you find the right retirement plan for your business. Help your employees achieve their retirement goals while putting tax savings in your company’s pocket.
Some of the options available through Paychex include:
PEP or Traditional 401(k)
<a href="https://www.paychex.com/retirement-services/pooled-employer-plans">Pooled Employer 401(k) Plan</a>
<p>Less Work and Lower Cost</p>
Traditional 401(k)
More Control
Reduced administrative costs. Economies of scale.
Potentially higher administration costs than a PEP.
The Pooled Plan Provider (P3) significantly reduces plan set-up responsibilities, including contracting with vendors and the investment manager.
As plan sponsor, the employer is involved in set-up such as plan design, choosing investments, and coordinating with vendors.
The P3 is the Plan Sponsor and relieves the employer of significant fiduciary liability.
The employer has more control but also more fiduciary risk.
The P3 assumes responsibility for audits, potentially saving employers $10,000-$20,000
The employer of a large plan must oversee and pay for costly audits.
Up to 100% coverage of retirement plan start-up costs for qualifying businesses – a potential savings of up to $16,500. Eligible Businesses that choose to give matching or profit-sharing contributions to their employee retirement plan may also qualify for an additional $1,000 tax credit of up to a maximum of $1,000 per employee. This additional employer contribution tax credit is eligible for 5 years from the 401(k plan start date.2
Up to 100% coverage of retirement plan start-up costs for qualifying businesses – a potential savings of up to $16,500. Eligible Businesses that choose to give matching or profit-sharing contributions to their employee retirement plan may also qualify for an additional $1,000 tax credit of up to a maximum of $1,000 per employee. This additional employer contribution tax credit is eligible for 5 years from the 401(k plan start date.2
The Importance of Offering a Retirement Plan
A large percentage of Americans are not building up sufficient assets needed to maintain their standard of living in retirement, and the problem is only getting worse for younger generations.
Nearly
1/4
Without Retirement Savings
About 1/4 of non-retired adults in the U.S. do not have any retirement savings4
$93,000
Household Retirement Assets
The median of total household retirement savings among all workers in 20205
13 years
When Social Security will run out
Social Security is projected to run out of funds in 13 years. At present, the Social Security Trust Fund is funded through 20346
94%
Employees interested in a 401(k) plan
94% of employees are interested in a 401(k) plan, second only to health insurance7
Recognized by Industry Experts for Our Innovation, Ethics, and Performance
The Simpler Way to 401(k)
Offering a 401(k) plan to your employees doesn't have to be complicated. As the provider for the largest number of 401(k) plans in the country3, Paychex has 401(k) administration down to a science. Our integrated payroll and benefits solution streamlines plan management and controls costs. With online enrollment, cloud-based account access, and support from retirement specialists, you and your employees can start saving today.