Products January 8, 2007

State Street Gives ETFs New Face

January 8, 2006 (PLANSPONSOR.com) - The investment management arm of State Street Global Corporation is rebranding its exchange-traded funds (ETFs) in an effort to bring more clarity to investors.
Reported by

According to a press release from State Street, each listed ETF will begin with “SPDR.” but will keep the same ticker symbol. The brand change will occur in phases, beginning Monday and continuing throughout the year.

Research by State Street showed that consolidating its ETF products under the “SPDR” name, rebranding its Web site ( www.spdretfs.com ), and introducing a new logo featuring a redesigned version of the brand’s mark would present a more discernible suite of products.

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The new fund names are listed here .

In October 2006, State Street Global Advisors’ US assets under management in ETFs topped $100 billion for the first time – up from $75 billion year over year, the company said. At year-end 2006, the firm managed approximately $102 billion across 43 ETFs domestic ($113 billion and 67 worldwide).

Administration January 7, 2007

Montana's PERS and TRS Face Substantial Deficits

July 22, 2005 (PLANSPONSOR.com) - Montana's two largest retirement systems, the Public Employees' Retirement System (PERS) and the Teachers Retirement System (TRS), face a potential deficit of $1.2 million.
Reported by

Managers of the systems asked the state’s legislature for a financial bailout, the Associated Press reports, but a Senate committee stopped the legislation.  

The governor’s budget director, David Ewer, wants more time to study the causes of the pensions’ trouble, according to the AP.  

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Ewer said the governor’s administration may ask lawmakers, during a special legislative session in December, to contribute one-time money into one or both retirement systems. The AP reports that he also proposed ending incentives for early retirement, and bringing back a more thorough process of reviewing proposed retirement bills before legislative sessions.

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