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The State Street Global Advisors Trust Company serves as an trustee for SSGA's US unregistered collective and common trust funds, some SSGA sponsored ETFs including the SPDR S&P 500 ETF Trust, and separately managed accounts. [4] As a whole, SSBT is the principal operating company within its parent company State Street Corporation. [5]
State Street Bank and Trust Company, also known as State Street Global Services, is the securities services division of State Street that provides asset owners and managers with securities services (e.g. custody, corporate actions), fund accounting (pricing and valuation), and administration (financial reporting, tax, compliance, and legal) services.
Investors Bank & Trust (IBT) was an American custodian bank, and the principal operating subsidiary of Investors Financial Services Corp., a holding company based in Boston, Massachusetts. First founded in 1969 as an offshoot of Eaton Vance , the company was purchased by State Street Corporation in 2007 as an all-stock deal valued at nearly $4. ...
SSGA operates through State Street Global Advisors Trust Company, which is a subsidiary of State Street Bank and Trust Company. [ 4 ] The company services financial clients by creating and managing investment strategies for governments, corporations, endowments, non-profit foundations , corporate treasurers and CFOs, asset managers, financial ...
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The retirement fund is a defined benefit type pension plan and was only partially funded by the government, with only $268.4 million in assets and $911 million in liabilities. The plan experienced low investment returns and a benefit structure that had been increased without raises in funding. [29]
A Pension administration firm can also be a division of a larger corporation engaged in the retirement plan business, such as with Principal Financial Group. The term "bundled" is sometimes used to refer to such an arrangement; [ 12 ] [ 13 ] [ 14 ] the same company maintains the plan, manages investments, and provides custody services.
Retirement plans are classified as either defined benefit plans or defined contribution plans, depending on how benefits are determined.. In a defined benefit (or pension) plan, benefits are calculated using a fixed formula that typically factors in final pay and service with an employer, and payments are made from a trust fund specifically dedicated to the plan.