Paylocity launches retirement services integrated with payroll platform

Paylocity (NASDAQ: PCTY) announced the launch of Paylocity Retirement, a service that integrates retirement plan administration into its existing human capital management platform. The offering combines Vestwell's retirement technology with Paylocity's payroll and HR systems.

The integrated service allows employers to manage retirement contributions directly through payroll processes, reducing manual reconciliation work. Employees can view retirement account balances, update contributions, and track savings progress within the Paylocity platform and mobile app without accessing separate systems.

Paylocity Retirement supports defined contribution plans including 401(k) and 403(b) plans. The service provides centralized visibility for employers to monitor plan activity and contributions while offering employees self-service access to retirement account management.

"Retirement benefits are essential to long-term financial stability, but managing them shouldn't add complexity to HR's plate," said Melissa King, SVP of Products & Technology at Paylocity. "By partnering with Vestwell, we're giving clients the best of both worlds: the simplicity of managing payroll and retirement in one connected platform, and the confidence of knowing their plan is backed by dedicated retirement expertise."

The partnership embeds Vestwell's retirement administration technology into Paylocity's platform. Aaron Schumm, Founder and CEO of Vestwell, stated the collaboration aims to remove barriers in retirement administration by creating a seamless experience within existing workflows.

The service is available now for employers offering defined contribution retirement plans. Paylocity, headquartered in Schaumburg, Illinois, provides HCM, Finance, and IT software solutions.

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