Index Fund Advisors (IFA) and Paychex have joined forces to meet the unique needs of plan sponsors. Together we bring a state-of-the-art retirement plan offering that combines the highest level of fiduciary protection afforded by law with recordkeeping and administration services from Paychex, one of the largest and most highly regarded names in the benefits industry.

The IFA/Paychex Retirement Plan Solution is easy to administer and includes investments that are lower-cost and straightforward--making it simple for participants to build pre-allocated portfolios at varying levels of risk and expected return.

The IFA / Paychex Retirement Plan Solution is suitable for:


Features:

Fiduciary and Investment Advisor

  • Fee-only fiduciary services contractually indemnifying plan trustees against liability for selection, monitoring and replacement of funds in the plan—ERISA 3(38) designation
  • Establishment and maintenance of the plan’s Investment Policy Statement
  • Quarterly Investment Monitoring Report
  • Customized communication and educational tools, including a dedicated plan website with subject-specific video modules, ongoing participant communications, and a suite of tools including a risk capacity survey, a retirement analyzer and returns calculator
  • Easily-investable asset allocation models, including risk-based, lower-cost, pre-built, goal-oriented portfolios that can be implemented with minimal on-going adjustments
  • On-site plan sponsor meetings and participant visits to fully engage participants and advance increased participation and savings rate
  • Dedicated and ongoing web-based television series to keep participants engaged, informed and committed to the investment path that has been identified as most appropriate for their long-term best interests

Services for Participants

Participants can do the following by phone or online:

  • Enroll in the company’s retirement plan
  • Request a quarterly statement
  • Review balances and shares by investment
  • Change investment choices and transfer among investments*
  • Verify or change pretax contributions
  • Obtain fund price and performance information
  • Request a fund prospectus
  • Request or model a loan
  • Retrieve information on current loans

Paychex Online Retirement Services also allows participants to:

  • Use retirement calculators and an extensive education center
  • View daily valuation of retirement plan assets
  • View and download their transaction history
  • See rates of return for their entire account and individual funds
  • View account information via a mobile device

Services for Employers

Paychex payroll data entry screens are intuitive and easy to follow. As a plan sponsor, employers can:

  • Review plan elections and billing information
  • Examine plan investments by investment or contribution type
  • View transaction histories for plan and participants
  • Run plan reports on demand
  • Link to prospectuses and fact sheets
  • View, run, and correct compliance testing
  • View participant accounts by fund allocations, contribution type, and deferral percentages
  • View and update employee census data
  • Grant access to other users
  • Make profit-sharing contributions
  • View account information via their mobile device

IFA/Paychex Retirement Plan Solution Features:

Bundled Services

  • 24/7 access to participant account information via Web site, telephone, or mobile device**
  • Education and enrollment communications


Investment Services

  • Paychex Advisor Select has access to nearly every mutual fund available in the open market and will return concessions.


Recordkeeping

  • Roth contributions
  • Catch-up contributions
  • Variety of employer matching options
  • Multiple vesting options
  • Easy-to-read statements
  • Compliance testing services
  • Preparation of Form 5500


Plan Administration

  • Auto enrollment
  • Education and enrollment communications
  • Participant loan administration
  • Different eligibility for different contribution types
  • Comprehensive trustee and custodial services through Wilmington Trust Company
  • Easy administration via website specifically for plan sponsors
  • Participant administration, including loans and distribution processing, 1099Rs, and 945s
* Please see each investment’s prospectus for information about fees that may be associated with frequent changes and transfers among the investments.
** 24/7 account access generally means 24 hours a day, 7 days a week, except when systems are unavailable due to scheduled maintenance.