| Schedule of Financial Assets Measured at Fair Value on Recurring Basis |
The Plan’s financial assets measured at fair value on a recurring basis were as follows:
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December 31, 2025 |
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Quoted |
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Significant |
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prices in |
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other |
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Significant |
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Carrying |
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active |
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observable |
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unobservable |
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value |
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markets |
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inputs |
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inputs |
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In Thousands |
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(Fair value) |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Mutual funds |
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$ |
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907,275 |
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$ |
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907,275 |
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$ |
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— |
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$ |
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— |
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Paychex common stock |
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171,534 |
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171,534 |
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— |
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— |
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CITs measured at fair value |
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113,678 |
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— |
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113,678 |
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— |
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Annuity fund |
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4,303 |
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— |
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4,303 |
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— |
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CITs measured at NAV (1) |
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1,197,505 |
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Total investments at fair value |
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$ |
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2,394,295 |
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December 31, 2024 |
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Quoted |
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Significant |
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prices in |
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other |
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Significant |
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Carrying |
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active |
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observable |
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unobservable |
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value |
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markets |
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inputs |
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inputs |
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In Thousands |
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(Fair value) |
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(Level 1) |
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(Level 2) |
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(Level 3) |
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Mutual funds |
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$ |
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799,667 |
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$ |
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799,667 |
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$ |
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— |
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$ |
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— |
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Paychex common stock |
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231,016 |
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231,016 |
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— |
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— |
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CITs measured at fair value |
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153,615 |
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— |
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153,615 |
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— |
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Annuity fund |
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4,490 |
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— |
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4,490 |
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— |
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CIT measured at NAV (1) |
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1,034,763 |
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Total investments at fair value |
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$ |
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2,223,551 |
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(1) In accordance with Accounting Standards Codification subtopic 820-10, investments in CITs that are measured at fair value using the NAV per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy. The fair value amounts of the CITs presented in the fair value tables are intended to permit reconciliation to balances presented in the Statements of Net Assets Available for Benefits.
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