Scudder Retirement Services Adds 72 New Clients; $350 Million in Assets
NEW YORK, NY, October 19, 2004 -- Scudder Investments today announced that its retirement plans Intermediary-sold retirement product, Scudder Premium Plan has been awarded 72 new plans year-to-date, exceeding $350M in retirement assets. Scudder Premium Plan is a fully bundled, comprehensive retirement plan option designed for organizations with plan assets of $1 million -- $15 million in assets.
Scudder attributes the growing interest among plan sponsors in this product to an expansion and enhancement of its services and its greater flexibility.
"Scudder's goal is to offer emerging to mid-level plan sponsors leading-edge retirement plan services, typically reserved for larger plans," said Steve Ulian, head of Scudder's retirement plan division. Scudder Premium Plan provides emerging clients with access to such services as a wide range of competitive Scudder and non-Scudder fund options, award-winning education programs, and payroll integration through its alliance with ADP.
"Our recent sales success reaffirms the strong positive response we have generated from the marketplace on our strategy to create a powerful defined contribution platform," added Ulian. "We are committed to being a market leader by bringing financial advisors and their clients an extensive, world-class retirement plan product that fully meet their needs."
About Scudder Investments
Scudder Investments is the US retail brand for Deutsche Asset Management. Scudder has been servicing defined contribution plans since 1984. With total defined contribution assets under management of approximately $31 billion (as of June 30, 2004), it administers over 11,000 defined contribution plans, including 401k, 403(b), Profit Sharing, Money Purchase and more.
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