Single-Participant Plans Added to Scudder Services

March 27, 2002 ( - Scudder Retirement Services launched Scudder Personal(k), a one-participant 401(k) plan for owner-only businesses.

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.