CitiStreet, a joint venture of Citigroup Inc. and State Street Corp. that manages for 11 million benefit plan participants, is adding a program called PlanFIRST to its fiduciary services.
The program guides customers through a complex regulatory environment, CitiStreet announced on Tuesday.
It is to include a Web site, PlanFIRST Online, which is to go live toward the end of this year or early next year.
In the area of fiduciary support, CitiStreet helps sponsors identify and manage fiduciary risk related to Employee Retirement Income Security Act roles, duties, and governance requirements and emerging legislation and regulatory guidance. It also offers full reporting and disclosure support.
CitiStreet will continue delivering fiduciary services, especially in reporting and disclosure matters, through its plan sponsor Web site, Sponsor Connect, and through face-to-face meetings. But all fiduciary materials will also now be available at one online resource center — PlanFIRST Online.
CitiStreet, which is based in Quincy, Mass., has 3,000 employees through offices in Somerset, N.J.; Jacksonville, Fla.; Lewiston, Maine; Boston; and field sites nationally.
It also has an international division, CitiStreet Australia, that has offices in Sydney, Brisbane, and Melbourne.
