State Street’s SPDR S&P 500 fund receives the accounts’ investments, and a proposed expansion could bring more money into it. The plan still needs Congress’s approval, and its funding rules are unsettled, so the added benefit is only possible.
That gives State Street a direct link to the program: account contributions first go into its SPDR Portfolio S&P 500 fund. More eligible adults could mean more money invested through that fund. But the proposal still needs Congress’s approval, and its rules are unfinished. Existing child accounts already create a benefit, so the story leans positive for State Street.
Dell Technologies is not reported to gain business from Michael and Susan Dell’s $6.25 billion pledge to children’s accounts. The story reports a gift to families, not a change to the company’s sales or products.
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