Products July 11, 2008

Paychex Catches On With AICPA

July 11, 2008 (PLANSPONSOR.com) Paychex, Inc., a provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, has been selected by the American Institute of Certified Public Accountants (AICPA) as the provider of retirement services for its member firms.
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CPAs often encourage their business clients to prepare for retirement by investing in a 401(k).   Through this program, the AICPA provides the incentive and guidance for member CPA firms to do the same, according to a press release.   Paychex 401(k) recordkeeping and payroll services offer the ability to save time and ensure accuracy by linking payroll processing directly with employee 401(k) deposits and employer matching contributions.

“After evaluating several best-in-class retirement services, we concluded that Paychex offered the Institute’s Firm-Based Member Retirement Program, which is especially designed for firms with up to 50 employees, the best flexibility in plan design, a clear savings, a wide array of high-quality investment choices and a unique distribution model,” said Jay Rothberg, AICPA vice president – office of the CEO.   “We encourage our member firms to explore this opportunity and their existing retirement strategy with Paychex.”

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Long-Standing Affiliations

According to a press release, Paychex has a long-standing professional affiliation with the AICPA. In 2003, Paychex was designated as the preferred provider of payroll services for clients by CPA2Biz, the AICPA’s marketing and technology subsidiary.   In 2005, the Paychex Partner Program from AICPA Business Solutions expanded to include 401(k) Recordkeeping services, and in 2006, AICPA Business Solutions extended the Paychex Partner Program through September 2011.

Earlier this year, the Paychex Partner Program from AICPA Business Solutions reached a milestone with the enrollment of more than 20,000 AICPA-member firms. From those businesses, more than 29,000 individual CPAs are registered nationwide in the program.

  With headquarters in Rochester, New York, Paychex has more than 100 offices and serves over 572,000 payroll clients nationwide.   For more information, go to http://www.paychex.com .

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