Paychex, Inc., a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses, has again earned national recognition for its superior performance in enterprise risk management by receiving the first-ever Risk and Insurance Management Society, Inc. (RIMS) Enterprise Risk Management Award of Distinction and a silver Alexander Hamilton Award for excellence in enterprise risk management (ERM).

The RIMS Enterprise Risk Management Award of Distinction was created to honor organizations that have shown a tremendous commitment to their enterprise risk management program. Based on the award judging criteria, which is weighted for value creation as well as value protection, the Paychex ERM program demonstrates a strong focus on the organization's strategy for achieving solid results. According to RIMS, the program demonstrates how risk management can deliver innovation and tangible value for an organization.

The Enterprise Risk Management program at Paychex was also recently recognized with a silver Alexander Hamilton Award for excellence in enterprise risk management. The awards are presented annually by Treasury & Risk magazine, a national business publication. Now in its 16th year, the awards recognize excellence and innovation in finance and treasury management at corporations and organizations around the world. The Mayo Clinic and Toyota Financial Services were the gold and bronze winners in this category, respectfully. This marks the sixth consecutive year Paychex has been recognized with an Alexander Hamilton Award.

"It is a true honor for Paychex to be recognized by these two organizations," said Frank Fiorille, director of risk management for Paychex. "It further validates how the discipline and stewardship of risk management can not only preserve value, but at the same time, create value for the company."

The Paychex submissions for the awards detailed the ongoing execution of value creation initiatives influenced or driven by the risk management organization, as well as the development of a risk workshop to disseminate risk management awareness across the organization. To date, nearly 1,200 employees have participated in these workshops, representing almost 10 percent of the company.

About the Risk and Insurance Management Society, Inc.

As the preeminent organization dedicated to advancing the practice of risk management, RIMS (the Risk and Insurance Management Society, Inc.) is a global not-for-profit organization representing more than 3,500 industrial, service, nonprofit, charitable and government entities throughout the world. Founded in 1950, RIMS brings networking, professional development and education opportunities to its membership of more than 10,000 risk management professionals who operate in more than 120 countries. For more information on RIMS, visit www.RIMS.org.

About Treasury & Risk

Treasury & Risk magazine is a leading monthly business publication for senior financial executives. Treasury & Risk's Alexander Hamilton Summit, now in its 16th year, recognizes excellence in treasury management and finance at the nation's top companies and multinationals, and has served as a benchmarking standard for chronicling the best practices and evolution of treasury and finance departments. Over the years, the awards program has recognized flagship companies such as Cisco, Google, Honeywell, McDonald's, and Microsoft.

About Paychex

Paychex, Inc. (NASDAQ:PAYX) is a leading provider of payroll, human resource, and benefits outsourcing solutions for small- to medium-sized businesses. The company offers comprehensive payroll services, including payroll processing, payroll tax administration, and employee pay services, including direct deposit, check signing, and Readychex®. Human resource services include 401(k) plan recordkeeping, section 125 plans, a professional employer organization, time and attendance solutions, and other administrative services for business. A variety of business insurance products, including group health and workers' compensation, are made available through Paychex Insurance Agency, Inc. Paychex was founded in 1971. With headquarters in Rochester, New York, the company has more than 100 offices serving approximately 564,000 payroll clients nationwide as of May 31, 2011. For more information about Paychex and our products, visit www.paychex.com.

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Paychex, Inc.
Lisa Fleming, 585-387-6402
Public Relations Program Manager
lfleming@paychex.com
Twitter: @PaychexNews