World Bank Staff Retirement Plan General Information

Description

World Bank Staff Retirement Plan (SRP) is a single-employer, funded, contributory, defined benefit corporate pension based in Washington, District of Columbia. The plan was established to provide pension benefits to the employees of the World Bank. The World Bank is the trustee of the plan and holds the plan's assets in trust for the exclusive benefit of participants, retirees, and beneficiaries. Other than investments in fund structures, most of the plan assets are managed by the external asset managers and are held in custody by The Bank of New York Mellon. The plan is managed by two committees: the pension finance committee is responsible for the investment and actuarial activities of the plan and the pension benefits administration committee is responsible for administering the plan's benefits.