Press release
Paychex Simplifies Retirement Plan Enrollment and Management with Latest 401(k) Enhancements
ROCHESTER, N.Y., April 8, 2019 /PRNewswire/ -- Paychex, Inc., one of the nation's leading providers in 401(k) recordkeeping services, has released a series of
About this update from Paychex, Inc.
[{"type":"text","content":"ROCHESTER, N.Y., April 8, 2019 /PRNewswire/ -- Paychex, Inc., one of the nation's leading providers in 401(k) recordkeeping services, has released a series of enhancements to both its participant dashboard and advisor portal, designed to simplify the process of enrolling in and managing a 401(k) plan. The new participant dashboard, along with added functionality to the advisor portal, is the latest in a series of retirement-focused product developments from Paychex. \n\n \nFor participants, the new dashboard experience expands retirement plan access, understanding, and investment management through a series of new features, including: \nA simplified enrollment process. In as a few as four clicks, participants can immediately enroll in a plan from their phone, tablet, or desktop device. Tools to better understand contribution impact. Participants can see how their savings today translate into monthly income during their retirement years. Expanded plan accessibility. With the ability to enroll, view, and change 401(k) options from any device, participants have greater plan access. Users can also easily switch the dashboard from English to Spanish with a click of a button. Opportunities to maximize retirement savings. Participants can make the most of their retirement savings potential with the ability to set automatic contribution increases, providing a convenient way to ensure their contributions maximize their employer match. Convenient investment management. Through a simplified investment review and selection process, investments can easily be monitored and adjusted by the participant as they see fit. \"In response to gaps in retirement readiness, Paychex is continually investing in tools to increase 401(k) participation,\" said Paul Davidson, director of product management at Paychex. \"Our new participant dashboard makes the process of enrolling in a 401(k) simpler than ever before, and as a result, we're already seeing increased participation rates. The enhanced dashboard provides a unique combination of tools and resources that empower participants to begin the process of confidently preparing for retirement.\"\nIn addition to the participant dashboard enhancements, Paychex also introduced a new feature for plan advisors. The new Plan Health Report, available in the Paychex advisor portal, makes it easy for advisors to mea...