Updated 2026-03-20
Paychex vs Employee Fiduciary 401(k) Comparison
Compare Paychex (#16, 7.0/10) and Employee Fiduciary (#24, 6.2/10) side by side across fees, ratings, features, and investment options.
Overall Comparison
| Feature | Paychex | Employee Fiduciary |
|---|---|---|
| Overall Score | 7.0/10 | 6.2/10 |
| Rank | #16 | #24 |
| AUM | $48 billion | $6 billion |
| Participants | 730,000 | 80,000 |
| Plan Sponsors | 740,000+ | 3,000+ |
| Founded | 1971 | 2004 |
Ratings Comparison
| Category | Paychex | Employee Fiduciary |
|---|---|---|
| Fees & Costs | 3.4/5 | 4.8/5 |
| Investment Options | 3.6/5 | 3.2/5 |
| Customer Service | 3.8/5 | 4.2/5 |
| Mobile App | 3.5/5 | 2.5/5 |
Fee Comparison
| Fee Type | Paychex | Employee Fiduciary |
|---|---|---|
| Admin Fees | $80 - $150/month + per-employee fees | $1,500/year + $30/participant |
| Expense Ratios | 0.10% - 1.2% | 0.03% - 0.15% |
| Trading Fees | Included | $0 |
| Advisory Fees | 0.50% - 1.0% | Included as 3(38) fiduciary |
Paychex Strengths
- Seamless payroll-to-401(k) contribution processing
- One of the largest recordkeepers in the US
- Plans for businesses from 1 to 1,000+ employees
- Bundled HR, payroll, and retirement services
Employee Fiduciary Strengths
- Full 3(38) investment fiduciary services included
- Among the lowest all-in costs
- Consistently rated best by independent reviewers
- Low-cost Vanguard fund lineup
Rollover, Loans & Withdrawals
| Feature | Paychex | Employee Fiduciary |
|---|---|---|
| Rollover Platform | Paychex Flex | Employee Fiduciary Portal |
| Loans Available | Yes | Yes |
| Withdrawal Methods | Online via Paychex Flex, Phone (800-741-6277), Through plan administrator | Phone (877-401-5100), Online portal |
| Distribution Options | Lump sum, Partial withdrawal, Installment payments, Rollover to IRA, Required Minimum Distributions | Lump sum, Partial withdrawal, Rollover to IRA, Required Minimum Distributions |
Which Should You Choose?
Choose Paychex if you want:
- Paychex payroll clients
- Small to mid-size businesses
- Companies wanting bundled HR+retirement
- PEO participants
Choose Employee Fiduciary if you want:
- Cost-conscious small businesses
- Employers wanting fiduciary protection
- Index fund believers
- Plan sponsors seeking simplicity
Our Verdict: Paychex vs Employee Fiduciary
Paychex wins this comparison with a score of 7.0/10 vs 6.2/10. Paychex excels with seamless payroll-to-401(k) contribution processing, making it the stronger choice for most investors in this matchup. However, the best choice ultimately depends on your specific needs, employer plan availability, and investment preferences.
Other Popular Comparisons
Compare these 401(k) providers head-to-head
Vanguard vs Employee FiduciaryCompare these 401(k) providers head-to-head
Schwab vs Employee FiduciaryCompare these 401(k) providers head-to-head
Empower vs Employee FiduciaryCompare these 401(k) providers head-to-head
T. Rowe Price vs Employee FiduciaryCompare these 401(k) providers head-to-head
Principal vs Employee FiduciaryCompare these 401(k) providers head-to-head
Paychex vs Employee Fiduciary: Complete 401(k) Comparison for 2026
Choosing between Paychex and Employee Fiduciary for your 401(k) is an important decision that affects your retirement savings. Paychex offers payroll integration while Employee Fiduciary is known for 3(38) fiduciary. In terms of fees, Paychex charges 0.10% - 1.2% expense ratios compared to Employee Fiduciary's 0.03% - 0.15%. Paychex manages $48 billion in assets and serves 730,000 participants, while Employee Fiduciary has $6 billion AUM and 80,000 participants.
Key Differences: Paychex vs Employee Fiduciary
When comparing Paychex and Employee Fiduciary, consider their core strengths: Paychex excels with seamless payroll-to-401(k) contribution processing, while Employee Fiduciary stands out for full 3(38) investment fiduciary services included. Both providers offer a wide range of investment options including target-date funds, index funds, and managed accounts. Paychex's customer service rating is 3.8/5 compared to Employee Fiduciary's 4.2/5. For mobile experience, Paychex scores 3.5/5 while Employee Fiduciary scores 2.5/5.
Which Provider is Right for You?
Choose Paychex if you prioritize paychex payroll clients. Choose Employee Fiduciary if you're looking for cost-conscious small businesses. Your decision should also consider your employer's plan availability, fee sensitivity, desired investment options, and customer service expectations. For detailed reviews, visit our individual Paychex and Employee Fiduciary provider pages.
Frequently Asked Questions
Paychex scores higher in our 2026 rankings with 7.0/10. Paychex is best for paychex payroll clients, while Employee Fiduciary is best for cost-conscious small businesses. The right choice depends on your employer's plan and your priorities.
Paychex charges expense ratios of 0.10% - 1.2% with admin fees of $80 - $150/month + per-employee fees. Employee Fiduciary charges 0.03% - 0.15% expense ratios with admin fees of $1,500/year + $30/participant. Paychex's fees rating is 3.4/5 compared to Employee Fiduciary's 4.8/5.
Yes, you can roll over between Paychex and Employee Fiduciary. Paychex uses Paychex Flex for rollovers, while Employee Fiduciary uses Employee Fiduciary Portal. A direct rollover avoids mandatory tax withholding. Contact your new provider to initiate the transfer.
Paychex offers 401(k) loans. Employee Fiduciary offers 401(k) loans. Both providers typically allow loans up to 50% of your vested balance or $50,000, whichever is less.
Paychex scores 3.6/5 for investment options, while Employee Fiduciary scores 3.2/5. Both offer target-date funds, index funds, and managed accounts. Paychex's investment options include Mutual Funds, Target Date Funds, Index Funds. Employee Fiduciary offers Vanguard Index Funds, Target Date Funds, Bond Funds.
For small businesses, consider plan minimums and per-participant costs. Paychex is best for paychex payroll clients, small to mid-size businesses, companies wanting bundled hr+retirement, peo participants. Employee Fiduciary is best for cost-conscious small businesses, employers wanting fiduciary protection, index fund believers, plan sponsors seeking simplicity. Compare admin fees: Paychex charges $80 - $150/month + per-employee fees vs Employee Fiduciary's $1,500/year + $30/participant.
Pavlo Pyskunov
Managing Director & Investment Fund Director
Pavlo Pyskunov analyzes employer-sponsored retirement plans using IRS publications and DOL Form 5500 filings, helping workers maximize their 401(k) savings through data-driven guidance.
Last updated: 2026-03-20