Products June 9, 2008

Paychex Adds Auto Enroll to 401(k) Offering

Paychex, Inc., added auto enrollment as an optional plan feature for its 401(k) offering.
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A Paychex news release said the company manages the enrollment process by notifying the plan sponsor when newly hired employees become eligible to participate and auto enrolling employees.

Higher participation helps ensure the viability of a small- to medium-sized business’ retirement savings plan, Paychex said.

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“The introduction of auto enrollment enables our clients to offer employees the same benefits that are typically associated with larger employers,” said Tony Tortorella, Paychex Human Resource Services vice president of sales, in the release. “Now, with auto enrollment, employees have more potential for deferring money into the plan, ultimately leaving them better prepared for retirement. It’s a win-win situation for everyone involved.”

More information is available at www.paychex.com.

Deals & People June 9, 2008

National Retirement Partners Acquires Noble Retirement Group

National Retirement Partners, Inc., today said it acquired Noble Retirement Group and Noble Benefits Group in the Houston area.
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Based in Sugar Land, Texas, a suburb of Houston, Noble Retirement Group advises on approximately $2 billion in assets encompassing more than 80 corporate retirement plans, a press release said. Founder Tom Noble has than 20 years of experience in the qualified plan arena and was a finalist for PLANSPONSOR’s Retirement Plan Adviser of the Year for 2006 and 2007 (see Tom Noble).

“Formally aligning the firm to NRP offers significantly more intellectual capital by being part of a national organization,’ said Noble in the release. “With our focus on vertical integration and geographical diversification, NRP will allow us to deliver the highest quality products and service more efficiently to our plan sponsors and participants.’

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Formed in 1996, Noble Retirement Group’s scope of services includes both retirement plan and health and welfare consulting for plan sponsors, estate and non-qualified planning for executives, and business owners and individual wealth management for participants.

“Tom has been recognized for many years as one of the top retirement advisers, but in the last year has built up a strong benefits business and is developing a wealth management practice as well,’ said Bill Chetney, CEO of NRP, in the release. “We look forward to Tom blending with our existing firms’ great reserve of energy and ideas.’


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