Company: PAYX
Filing Date: 2025-06-06
Form Type: 11-K
Source: 0000950170-25-083153
Chunk: 6

Company: PAYCHEX INC
Filing Date: 2025-06-06
Form: 11-K
Chunk 6
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 the ESOP Fund, are not restricted, with the exception of certain restricted trading periods for individuals designated as insiders as specified in the Paychex Insider Trading Policy. The Company matching contributions follow the same fund elections as the employee compensation deferrals. Investment Options: As of December 31, 2024, participants may direct contributions in the following investment options:

| Paychex ESOP Stock Fund                                       |
| ClearCourse Group Variable Annuity                            |
| Columbia Trust Dividend Income Fund Institutional 300         |
| Fidelity 500 Index Fund                                       |
| Fidelity Global ex U.S. Index Fund                            |
| Fidelity Government Money Market Fund                         |
| Fidelity Mid Cap Index Fund                                   |
| Fidelity Small Cap Growth K6 Fund                             |
| Fidelity Small Cap Index Fund                                 |
| Fidelity Total Bond K6 Fund                                   |
| Fidelity U.S. Bond Index Fund                                 |
| Glenmede Small-Cap Equity Portfolio Fund                      |
| Great Gray Trust EuroPacific Growth Trust Fund Class CT       |
| JPM CB Large Cap Growth Fund CF-A Class                       |
| MFS Mid Cap Value Fund CT                                     |
| T. Rowe Price Retirement Hybrid Target Date Funds 2005 - 2065 |
| Vanguard Short-Term Bond Index Fund Class IS                  |

Participants may choose to change their investment option choices and how their contributions are allocated to each fund chosen at any time. The Plan Committee regularly reviews performance, fees, and other key indicators of all investment options and may enter or exit funds at its discretion with the exception of the ESOP Fund. ClearCourse Group Variable Annuity (“ClearCourse”) is an investment option that provides both guaranteed income at retirement with additional market growth opportunity based on the market performance of its underlying portfolio and it has no redemption restrictions. ClearCourse was frozen to new contributions and transfers into the fund in 2012. Forfeited Accounts: Forfeited non-vested assets are used to reduce future employer contributions, when available. There were no forfeitures used to reduce employer contributions in 2024 and $1,000 in forfeitures used to reduce employer contributions in 2023. Forfeited balances not yet applied to reduce employer contributions were approximately $19,000 as of December 31, 2024 and were not material to the financial statements as of December 31, 2023. Participant Loans: The Plan allows participants to borrow from a minimum of $1,000 up to a maximum equal to the lesser of 50% of their vested