Effective January 1, 2005, Scudder will release both Scudder ChoicePlan Total and ChoicePlan TPA. The first is a bundled service designed for plans with up to $3 million in plan assets that wish to combine their administrative and recordkeeping services.
The second is meant for plans of any size that wish to adopt an unbundled plan with a third party administrator involved. Both plans feature the ability to transmit payroll data to the plan’s recordkeepers through the internet, as well as direct payroll integration to ADP payroll clients.
The plans will also offer access to Scudder and non-Scudder mutual funds, education programs, communications services, and optional account rebalancing. Also included is access to ADP’s SaveSmart program, which has automatic retirement savings features that allow participants to specify dates for pre-determined increases to their retirement deductions.