What is a Collective Investment Trust (CIT)?
A CIT is a trust established and maintained by a bank or trust company that commingles assets from multiple eligible clients. A CIT is exempt from registration with the Securities and Exchange Commission under Section 3(c)(11) of the Investment Company Act of 1940. A CIT is, however, subject to banking regulations, and must comply with applicable sections of the tax code and ERISA.
Empower Trust Company, LLC (ETC) CITs
Empower Investments makes available through its affiliate ETC, a series of Collective Investment Trusts. These CITs are provided on the Empower platform for defined contribution plans.
For all information on ETC and its CITs, including the governing documents for the CITs, click here.