Odaily Planet Daily News: State Street's Anna Paglia plans to promote ETFs into the US 401(k) retirement system. In an interview with Bloomberg TV, State Street's Chief Business Officer Anna Paglia said that State Street is working closely with regulators, investors and plan sponsors to overcome technical and regulatory barriers to allow ETFs to enter 401(k) plans. She believes that ETFs can play an important role in retirement portfolios, although the current 401(k) system relies mainly on mutual funds. Paglia joined State Street in February this year and was previously the global ETF director at Invesco. She firmly believes that the low cost and tax efficiency of ETFs are its advantages, although capital gains taxes do not apply to 401(k)s and intraday liquidity is not necessary in retirement accounts.