Product: Paychex 401k Retirement Plan Clear all filters (0 of 8 reviews match)
filters
seller:
Show
state:
Show
city:
Show
product:
Paychex began invoicing me AFTER I had terminated my 401K account with them
After sitting there idle for 3 years, I finally decided to terminate my Paychex 401K acccount. It was tremendously difficult to do, and took intervention from my rollover 401K broker. But finally got them to send the money to them. Bad enough. THEN: they decided to...
Read more
Anonymous
Renfro

Our small business dumped them years ago and switched to ADP .

1.7
Product
Paychex 401k Retirement Plan
#1235263
Reply to reviews
Paychex - The worst ever (retirement services)
Biggest red flag is there is NO WAY to initiate a rollover on the website even though it leads you to believe there is becuase the menu says "initiate a rollover or withdrawl" (it only offers hardship withdrawals or a rollover INTO paychex, not out). Major shady...
Read more
Product
Paychex 401k Retirement Plan
#1167726
Reply to reviews
Show

Paychex - Excessive fees for terminated 401k plan -- they took over 40% of my balance!

My 401K balance was a piddling $321 when my company terminated the 401K plan. Then Paychex charged me $140 for Plan Administration fees and now also wants a $75 fee to issue a rollover check. Can anyone say "excessive fees"? Do not do business with Paychex -- Do not do business with Paychex {{Redacted}}
1.0
Details
Additional Fees
Advertised vs Delivered
Billing Practices
Customer service
Discounts and Special Offers
Diversity of Products or Services
Interest Rate
Price Affordability
Privacy and Data Security
Product or Service Quality
Reliability
Staff
Value for money
Website
Product
Paychex 401k Retirement Plan
I didn't like
  • Little to no communication
  • Excessive fees
  • Robbed me
#1138615
Reply to reviews
I have been trying to roll-over my 401k for 3 months now and it has been a nightmare. First they issued the check to the wrong payee. Then they asked me to fill out a form to void the check and reissue a new one. I did that and since then it has been 2 months and they...
Read more
Product
Paychex 401k Retirement Plan
#1116665
Reply to reviews
I had $178 in my 401k account with them. The company I worked for went out of business. I was charged a $75 distribution fee. After taxes I got $81. Over half the $$ went away. What a rip off. What they should do is charge 2% or $75 whichever is less. I did call them...
Read more
Product
Paychex 401k Retirement Plan
I didn't like
  • No responsibility for mistakes
  • Robbed me
  • Inaccurate information
#1093960
Reply to reviews
I have dealt with paychex on many occasion. Bad and good. Grey for the most part. Sometimes they dropped the ball on payments to me but I took that all in stride. That was until I Seperated from my employer. That is when things got interesting. I wanted to get an early...
Read more
Product
Paychex 401k Retirement Plan
#1057726
Reply to reviews
When I was hired I transferred my 401K from my old job to Paychex since that was what the new employer used. Paychex did not make the transferr when they received the check saying they couldn't "recognize" in spite of the fact that I used their form and included my SSN...
Read more
1.0
Product
Paychex 401k Retirement Plan
I didn't like
  • Bad experience
#994806
Reply to reviews
We have been in touch with them for four months, trying to add new employees so that they can sign up for 401K. Have been in touch with Paychex 11 different times. They can never locate our company. Then we go through 90 minutes of password updating once they do locate...
Read more
Product
Paychex 401k Retirement Plan
#994102
Reply to reviews