State Street Corporation announced it has been selected by Raytheon Technologies as trustee, custodian, asset manager, securities lending agent and transition manager for the Raytheon Technologies Corporation Savings Plan Master Trust, a $54 billion master trust which holds assets for all U.S.-based defined contribution plans sponsored by Raytheon Technologies. As part of this arrangement, Raytheon Technologies renewed a number of services for the Raytheon Technologies Corporation Savings Plan Master Trust with State Street including trustee, custody, accounting, performance measurement, benefit payments and investment management services. Additionally, the agreement extended its scope to encompass new securities lending and transition management services.

Raytheon Technologies opted to renew and expand the relationship with State Street based upon their long-standing strategic partnership which spans more than 30 years.