State Street is preparing to liquidate its Institutional Tax-Free Money Fund. The filing says, "The State Street Institutional Investment Trust's Board of Trustees has approved a Plan of Liquidation and Termination of Sub-Trust (the "Plan") with respect to the Fund, pursuant to which the Fund is expected to be liquidated and terminated on or prior to December 15, 2015 (the "Liquidation Date"). Effective immediately the Fund may take steps to begin preparing for its liquidation, which may include departing from its principal investment strategy, such as holding a significant portion of its assets in cash, and not achieving its investment objective. During the period between the effective date of the Plan (December 8, 2015) and the Liquidation Date, the Fund will engage in business and activities solely for the purposes of winding up its business and affairs and making a distribution of its assets to shareholders, and may not pursue or achieve its investment objective. The Fund's investment adviser, SSGA Funds Management, Inc. (the "Adviser") will continue to voluntarily reduce all or a portion of its fees and/or reimburse expenses of the Fund to the extent necessary to avoid negative yield, or a yield below a specified level, which may vary from time to time in the Adviser's sole discretion, through the liquidation of the Fund.... Effective upon the close of business on December 8, 2015, the Fund will no longer accept orders from existing shareholders to purchase additional shares. Current shareholders of the Fund may, consistent with the requirements set forth in the Prospectus, redeem or exchange their shares into shares of the same class of other Funds in the State Street Institutional Investment Trust at any time prior to the Liquidation Date."
