State Street to Match U.S. Treasury Contributions to New Child Savings Accounts
- The firm's program will empower long-term savings and lifelong investment for the next generation
State Street Corporation (NYSE:STT) today announced a new program to match U.S. Treasury contributions to the children's savings accounts established under the Working Family Tax Cuts initiative.
The initiative, designed to promote long-term savings and investment for children under 18 years old, will be administered by the U.S. Treasury and is set to launch on July 4, 2026, in conjunction with the 250th anniversary of the United States' Declaration of Independence. State Street will match the $1,000 contribution from the U.S. Treasury for the accounts of eligible children of active employees, doubling the initial investment and creating greater growth opportunities for every child.
"State Street believes in the power of investing and the importance of helping families build a secure financial future for their children," said Ron O'Hanley, chairman and chief executive officer at State Street. "By matching the U.S. Treasury's contribution, we are giving the next generation a head start on saving and a stake in the American economy to harness the wealth-generation power of investing and plan for long-term financial health."
State Street's matching program will be available to all eligible U.S. employees.
State Street CEO Ron O'Hanley has also joined the Invest America CEO Council, a coalition of business leaders supporting the children's savings accounts and ensuring the next generation has a stake in the economy. Participation in the program aligns with State Street's mission to help create better outcomes for investors, including its own employees and their families.
About State Street Corporation
State Street Corporation (NYSE:STT) is one of the world's leading providers of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $51.7 trillion in assets under custody and/or administration and $5.4 trillion* in assets under management as of September 30, 2025, State Street operates globally in more than 100 geographic markets and employs approximately 52,000 worldwide. For more information, visit State Street's website at www.statestreet.com.
*Assets under management as of September 30, 2025 includes approximately $145 billion of assets with respect to SPDR® products for which State Street Global Advisors Funds Distributors, LLC (SSGA FD) acts solely as the marketing agent. SSGA FD and State Street Investment Management are affiliated.
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