Scudder Investments Launches Scudder ChoicePlan
Comprehensive retirement plan solution offering small and growing businesses bundled and unbundled service options.
CHICAGO, IL, October 4, 2004 -- Scudder Investments today announced the launch of Scudder ChoicePlan, a comprehensive, full-service retirement plan solution for small and growing businesses. Scudder ChoicePlan was designed to provide these businesses with a wide range of services usually reserved primarily for larger plan sponsors along with flexibility to choose the options best suited for their businesses. Scudder ChoicePlan is available through financial advisors and will begin accepting new business for January 1, 2005.
Scudder ChoicePlan TPA is an unbundled service option designed for plan sponsors of all sizes that desire to use a local third party administrator. Scudder ChoicePlan Total is a bundled service option designed for businesses with up to $3 million in plan assets who are looking to combine administrative services with plan record keeping. Every plan features the ability to transmit payroll data to the plan's recordkeepers through the Web. In addition, Scudder ChoicePlan offers direct payroll integration to ADP(R) payroll clients, further narrowing the gap between payroll and retirement data. "This is an example of how Scudder's groundbreaking alliance with ADP is delivering benefits to our clients," said Steve Ulian, Managing Director at Scudder Retirement Services.
Other key ChoicePlan features include:
- A comprehensive selection of highly ranked Scudder and non-Scudder mutual funds;
- Award winning educational programs and communication services
- Optional automatic account rebalancing
- ADP's SaveSmart(R), an automatic retirement savings feature that lets participants specify dates for pre-determined increases to their retirement deductions; and
- Robust, interactive Web sites to assist them in developing their retirement strategies.
Scudder has been servicing defined contribution plans since 1984. Scudder has proven investment strength with total defined contribution assets under management of approximately $31 billion (as of June 30, 2004). Scudder, through its alliance with ADP, provides services for nearly 12,000 defined contribution plans, including 401k, 403(b)(7), Profit Sharing, Money Purchase and more. Financial advisors and plan sponsors can learn more about Scudder ChoicePlan by calling 1-800-522-1441 or visiting scudder.com.
About Scudder Investments
Scudder Investments is the US retail brand for Deutsche Asset Management. With approximately US $700 billion (as of 6/30/2004) in assets under management, Deutsche Asset Management is one of the world's leading investment management organizations not just in size, but in quality and breadth of investment products and client service. Deutsche Asset Management is geographically divided into three regions -- the Americas, Europe and Asia Pacific, providing a broad range of investment management products across the risk/return spectrum. All of our products are managed for consistency, and with a goal of competitive long-term risk-adjusted performance
Scudder Investments is part of Deutsche Asset Management, which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Asset Management Inc., Deutsche Asset Management Investment Services Ltd., Deutsche Investment Management Americas Inc. and Scudder Trust Company.
About ADP
Automatic Data Processing, Inc. (NYSE: ADP) with over $7 billion in revenues and approximately 550,000 clients, is one of the largest independent computing services firms in the world. ADP Employer Services (ES), a division of ADP, Inc., is a leading provider of integrated business administrative solutions that help its over 475,000 clients efficiently manage their internal processes, allowing them to focus on core competencies. ADP Employer Services' offerings include both traditional and Web-based outsourcing products and services, giving clients the ability to select from ADP's comprehensive range of World Class Service solutions. Services include: payroll, tax regulatory management, HRMS, benefit administration, time and labor management, retirement plan services, online recruiting, PEO services, and employment screening and selection. For more information about ADP Employer Services, or to contact a local ADP sales office, reach us at 1.800.225.5237 or visit the company's company's Web site at http://www.adp.com.
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