NEW YORK, Feb. 12 /PRNewswire/ -- Scudder Retirement Services (SRS) today
announced that 12 new mutual funds would be added to the investment lineup of
the firm's small business retirement plan product, Scudder Flex Plan.
Complementing a menu of more than 60 Scudder mutual funds, the addition of 5
new non-proprietary fund families which include Aim, Lord Abbett, Franklin-
Templeton, Federated and MFS-broadens the investment options Scudder Flex Plan
makes available to its small business clients and their plan participants.
The latest in a series of recent enhancements
The 12 new funds are the latest in a series of Scudder Flex Plan
enhancements that began last August, when the firm expanded the product's
investment flexibility by adding Scudder class R shares and broader access to
non-Scudder funds, enhanced sales and enrollment support for retirement plan
financial advisors, revitalized the Select Third Party Administrator program
and re-opened the product to start-up plans. "One of the hallmarks of a
successful retirement plan is the ability to provide a wide range of
compelling choices for participants to meet their unique investment needs,"
said Steve Ulian, managing director of Scudder Retirement Services. "In
Scudder Flex Plan, we now offer a wide range of investment options in every
major asset class and investment style -- backed by exceptional service and
employee education," he added.
Qualifications/details
With Scudder Flex Plan, employers can offer up to 15 different investment
options to their plan participants, including three non-Scudder options to
qualifying plans. At the time of plan conversion or establishment, 70% of the
plan's assets must be invested in Scudder funds and the plan must invest in
Scudder Class A shares at Net Asset Value (NAV) or Scudder Class R shares. In
order to qualify for the complete menu of non-Scudder funds, the plan must be
a 401(k), profit sharing, money purchase or nonqualified deferred compensation
"top hat" plan, set up on the Scudder Flex Plan recordkeeping system on or
after January 1, 2004.
About Scudder Investments/Scudder Retirement Services
A part of Scudder Investments, Scudder Retirement Services has been
servicing defined contribution plans since 1984. With total defined
contribution assets under management of approximately $34 billion (as of
9/30/03), it provides retirement services for 14,000 defined contribution
plans including 401(k), 403(b), profit sharing, money purchase pension plans
and more. In May 2003, Scudder formed a strategic alliance with ADP, Inc.,
leveraging Scudder's strength in employee education and client service with
ADP's strengths in transaction processing and recordkeeping to increase
economies of scale and operating efficiencies. This alliance also enables
Scudder Retirement Services to provide an expanded range of integrated
products and services.
Scudder Investments is the US retail brand for Deutsche Asset Management.
With over US $714 billion in assets under management (as of 12/31, 2003),
Deutsche Asset Management is one of the world's leading investment management
organizations, not just in size, but also in quality and breadth of investment
products, performance and client service. Deutsche Asset Management is
geographically divided into three regions -- the Americas, Europe and Asia
Pacific, providing the full range of investment management products across the
risk/return spectrum.
Investments in mutual funds involve risks. Some funds have more risk than
others. Please read the fund's prospectus for specific details regarding its
investments and risk profile.
To obtain a prospectus, download one from http://www.scudder.com, talk to your
financial advisor or call Retirement Services at (800) 522-1441. We advise
you to carefully consider the fund's objectives, risks, charges and expenses
before investing. The prospectus contains this and other important
information about the fund. Please read the prospectus carefully before you
invest.
SOURCE Scudder Retirement Services
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Related links:
http://www.scudder.com
CONTACT:
Judith Inosanto of Scudder Retirement
Services, +1-212-326-6746
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