Saskatchewan Teachers’ Federation, Saskatoon, hired State Street Corp. to provide custody, fund accounting and securities lending services for the C$2.2 billion (US$2 billion) in defined contribution and group benefit fund assets.
State Street replaced RBC Dexia, confirmed plan manager Jean Arsenault. The federation had issued an RFP. Mr. Arsenault declined to elaborate.
The federation has two plans: the Saskatchewan Teachers’ Superannuation Plan, for pre-July 1, 1980, retirees, and the Saskatchewan Teachers’ Retirement Plan for those who retired on July 1, 1980, and later.