Scudder's Defined Contribution Services unit was recognized by the Profit Sharing/401(k) Council of America for the communications program it provided for the Timex Corp.'s defined contribution plan. Scudder was awarded first place in the "addressing asset allocation" category of the 1998 Signature Awards. Scudder was given the award because of its efforts to encourage employees to consider their asset allocation. At the end of the education program, more than 80 percent of the U.S. Treasury Strip assets of Timex's plan were transferred to diversified funds.

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