Company: PAYX
Filing Date: 2025-06-06
Form Type: 11-K
Source: 0000950170-25-083153
Chunk: 3

Company: PAYCHEX INC
Filing Date: 2025-06-06
Form: 11-K
Chunk 3
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,697 |   |
| Interest income on notes receivable from participants                 |     |   |      |     2,204 |   |     |   |      |     1,470 |   |
| Benefits paid to participants                                         |     |   |      |  (221,328 | ) |     |   |      |  (152,092 | ) |
| Change in net assets available for benefits, before transfers         |     |   |      |   251,741 |   |     |   |      |   315,224 |   |
| Transfers from other qualified plans                                  |     |   |      |     2,085 |   |     |   |      |         — |   |
| Change in net assets available for benefits                           |     |   |      |   253,826 |   |     |   |      |   315,224 |   |
| Net assets available for benefits at beginning of year                |     |   |      | 2,005,694 |   |     |   |      | 1,690,470 |   |
| Net assets available for benefits at end of year                      |     | $ |      | 2,259,520 |   |     | $ |      | 2,005,694 |   |

See accompanying notes to financial statements.

<div align='center'>4

PAYCHEX, INC. 401(k) INCENTIVE RETIREMENT PLAN

NOTES TO FINANCIAL STATEMENTS

December 31, 2024 and 2023</div>

NOTE A. PLAN DESCRIPTION

The following brief description of the Paychex, Inc. (the “Company” or “Paychex”) 401(k) Incentive Retirement Plan (the “Plan”) is provided for general information purposes only. More complete information regarding the Plan’s provisions may be found in the Plan Document and Summary Plan Description.

General:The Plan is a defined contribution plan qualified under Sections 401(a) of the Internal Revenue Code (the “Code”), which includes provisions under Section 401(k) allowing an eligible participant to direct the employer to contribute a portion of the participant’s compensation to the Plan on a pre-tax and/or after-tax basis through payroll deductions. The Plan is subject to the provisions of the Employee Retirement Income Security Act of 1974, as amended (“ERISA”). The Plan was established on July 1, 1984 and has been restated or