Paychex Retirement Services administers 401(k) plans for more than 120,000 employers. For HVAC contractors that already run payroll through Paychex Flex or Paychex Payroll, the retirement plan plugs directly into the same system.
HVAC owners can choose from traditional 401(k), Safe Harbor 401(k), SIMPLE IRA, SEP IRA, or a Pooled Employer Plan (PEP). The Paychex PEP is particularly useful for small shops: Paychex serves as both plan sponsor and plan administrator.
Pricing is quote-based and typically higher than Guideline or Human Interest on a per-participant basis, but Paychex wins on depth of service: bundled payroll, HR, benefits, workers' comp, and time tracking.