Experienced Retirement Platform - Good management, cumbersome platform
November 29, 2018
Experienced Retirement Platform - Good management, cumbersome platform
Score 4 out of 10
Vetted Review
Verified User
Overall Satisfaction with Paychex Flex
We used Paychex to manage our retirement account and switched to a different company in January 2018. I thought the automatic management component in Paychex was awesome, I got a great return on my 401k. The loan process was also super easy to manage. The online management platform was horrible. Other companies (as well as our new one) have lots of planning tools - graphs, charts/visual dashboards to help you plan your retirement and see if you are on track. The Paychex platform may have had those tools but it was cumbersome and not user friendly
- The automatic 401k management tool- I got a great return and the fees were minimal
- Simple process to access your funds or get a loan
- The ability to log in online and manage your account
- It would be great if there was an online financial planning components, questionnaires that help you set targets and goals and a dashboard that showed you if you were on trqck
- A lot of paperwork needed to be completed by hand, it would have been great to have online forms so you don’t have to print, scan and email
- The overall online platform is cumbersome. It’s not easy to navigate and not at all intuitive
- I didn’t purchase Paychex so I’m unsure
It’s great that Paychex is one place for all things, however workday in combination with a financial institution for managing 401ks is a cleaner and easier to use system. That being said, we didn’t utilize all the components of Paychex