CitiStreet, a joint venture between State Street Corp. and Citigroup Inc., will run a 401(k) retirement program for ShopKo Stores Inc., a Green Bay, Wis., consumer products retailer with 359 stores.
The agreement was announced Thursday.
CitiStreet, of Quincy, Mass., will provide administration, record keeping, and communications and education services for the plan, which has more than $300 million in assets and 16,000 participants.
ShopKo operates 141 stores under its own name and 218 stores in small and rural communities under the Pamida name.
CitiStreet serves more than 9 million participants and administers approximately $200 billion of assets in the United States. It also serves about 1 million participants and administers about $4 billion of assets outside the United States.
