State Street to Match Treasury's $1,000 Contribution to Employees' Child Savings Accounts
By Elias Schisgall
State Street Corporation will match the U.S. Treasury's $1,000 contribution to savings accounts for the newborn children of its employees.
Ron O'Hanley, chief executive of the financial-services company, said Thursday that the matching program would help put employees' children on stronger financial footing.
"By matching the U.S. Treasury's contribution, we are giving the next generation a head start on saving and a stake in the American economy to harness the wealth-generation power of investing and plan for long-term financial health," O'Hanley said.
The company said that O'Hanley has joined the Invest America CEO Council, a group of business executives who are supporting the government's push to open savings accounts for children.
The accounts were created by Congress through President Trump's One Big Beautiful Bill Act, and will apply to babies born from 2025 through 2028.
Already, some business leaders have pledged additional support beyond the initial $1,000 deposit. BlackRock and Bank of New York Mellon have similarly said they would match the contribution for children of employees, according to The Wall Street Journal.
Michael and Susan Dell said earlier this month they would donate $6.25 billion to fund accounts for American children who are ineligible for the program, and investor Ray Dalio said Wednesday that he would donate $250 each into the accounts of children born in Connecticut.
Write to Elias Schisgall at elias.schisgall@wsj.com
(END) Dow Jones Newswires
December 18, 2025 15:22 ET (20:22 GMT)
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