Retirement Financial Advisor (FA) Referred 401(k) Clients Promotion
The Retirement Financial Advisor (FA) Referred 401(k) Clients Promotion (the “Promotion”) will run from September 1, 2024 until December 31, 2024 (the “Promotion Period”), unless terminated earlier by Paychex in its sole discretion, and is subject to the following terms and conditions.
The Promotion is available to Eligible Clients (as defined below) who are referred to Paychex by a financial advisor and that, during the Promotion Period, either (1) establish an employer-sponsored single-employer 401(k) plan record kept by Paychex Retirement Services, (2) transfer the recordkeeping services for an existing employer-sponsored single-employer 401(k) to Paychex Retirement Services, or (3) begin participation in the Paychex Pooled Employer 401(k) Plan (each, a “Plan”). Each Eligible Client shall receive a one-time credit of the Eligible Client’s billed initial setup fees (each, a “Credit”) based on the amount of assets in the Eligible Client’s Plan, subject to the following calculations:
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Plan Assets
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Credit
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$0-$1M
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$1,000 off initial setup fees
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$1M-3M
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$1,500 off initial setup
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$3M +
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$2,000 off initial setup
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An “Eligible Client” is a client that: (1) prior to the Promotion Period, is not currently receiving retirement services from Paychex; (2) during the Promotion Period, is referred to Paychex for retirement services by a financial advisor who provides all documents and information to Paychex required to establish the retirement services; (3) during the Promotion Period, executes either the Paychex Retirement Services Agreement or Pooled Employer Plan Services Agreement (as applicable) and commences retirement services covered thereunder; and (4) activates the Plan on or before January 31, 2025, and has a minimum of one employee enrolled in the Plan at the time that the Eligible Client’s Plan is activated. Participation in the Paychex Pooled Employer 401(k) Plan also requires the use of Paychex Payroll services.
Owner-only 401(k) plans, IRAs and any retirement services that are included in a payroll or human resource service bundle are not available for the Promotion. Paychex will begin applying the Credit to an Eligible Client’s invoice for retirement services once the Eligible Client has activated the Plan and there are assets in the Plan. An Eligible Client must be receiving the retirement services from Paychex to receive the Credit and the Eligible Client’s Plan must be activated on or before January 31, 2024. Any unused portion of the Credit is not redeemable in U.S. currency, for any other entity, or for any other purpose. The Promotion applies only to the fees for retirement services, and Eligible Clients shall be solely responsible for all fees due for services other than the retirement services. The Promotion cannot be combined with any other offer and is a limited-time offer.
*The Services for a single-employer plan adopted in connection with this Promotion are provided by Paychex Retirement Services, a division of Paychex, Inc. The Services for the Paychex Pooled Employer 401(k) Plan are provided by Paychex Retirement, LLC and its delegates.
