Products March 3, 2004
Single-Participant Plans Added to Scudder Services
March 27, 2002 (PLANSPONSOR.com) - Scudder
Retirement Services launched Scudder Personal(k), a
one-participant 401(k) plan for owner-only
businesses.
Reported by Camilla Klein
According to a news release from the company, Scudder Personal(k):
- allows for much larger tax-deductible contributions than available under a profit sharing, SEP or SIMPLE plan
- provides the opportunity to take tax-free plan loans – the same way a traditional 401(k) plan does
- allows investors to consolidate retirement assets from different plans and IRAs under one plan
- offers a full range of Scudder mutual funds
- offers online access to plan and participant-level information enabling individuals to review balances, change allocations, and view transaction summaries.
Scudder Personal (k) is designed specifically for small business owners with no full-time employees. Plans cover owners and their spouses.