Pentegra Retirement Services, which sells retirement products and services to community banks, has announced the choice of State Street Global Advisors to manage its more than $1 billion of qualified plan assets.
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White Plains, N.Y.-based Pentegra selected State Street for its broad range of extremely low-cost index funds, it said Monday.
"Each of these collective trust funds offers rigorous style consistency and substantially lower expense ratios than most retail mutual funds, annuities, or actively managed investments," Gwen Burroughs, Pentegra's chief marketing officer, said in a press release. "This keeps costs down while simplifying the investment selection and management process, benefiting both plan sponsors and participants."
