8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the

Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 31, 2006

NORTHERN TRUST CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	0-5965	36-2723087
(State or other jurisdiction of incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

50 South LaSalle Street, Chicago, Illinois	60603
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (312) 630-6000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 8.01. Other Events.

On March 31, 2006, the registrant announced that its principal subsidiary, The Northern Trust Company, has reached an agreement with counsel for plaintiffs, subject to court approval, to settle all claims asserted against it in Tittle v. Enron Corp., an ERISA class action case that was filed in 2001 on behalf of participants in certain Enron employee benefit plans.

A copy of the Corporation’s press release announcing the settlement is filed as Exhibit 99 to this Form 8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

99    Press Release dated March 31, 2006

-2-

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	NORTHERN TRUST CORPORATION
	(Registrant)
Date: March 31, 2006	By:	/s/ FREDERICK H. WADDELL
		Frederick H. Waddell
		President and Chief Operating Officer

-3-

EXHIBIT INDEX

Exhibit Number	Description of Exhibit
99	Press Release dated March 31, 2006

EX-99

Exhibit 99

News Release

http://www.northerntrust.com

NORTHERN TRUST ANNOUNCES ENRON LITIGATION SETTLEMENT

CHICAGO, March 31, 2006 — Northern Trust Corporation announced today that its principal subsidiary, The Northern Trust Company, has reached an agreement with counsel for the plaintiffs in Tittle v. Enron Corp. to seek approval of a settlement of that class action case at $37.5 million, all of which will be paid by Northern Trust’s insurance carriers.

The Tittle case was filed in 2001 on behalf of participants in the Enron employment benefit plans that held Enron stock as an asset. Northern Trust served in administrative capacities for Enron’s 401(k) and employee stock ownership plans.

“Northern Trust performed its duties prudently and carefully,” said Kelly R. Welsh, Northern Trust Executive Vice President and General Counsel. “But given the unpredictable nature of litigation in general and the risks associated with Enron-related litigation in particular, we have chosen to put this issue behind us for less than our insurance policy limits.”

Before the settlement can be finalized, it will have to be approved by U.S. District Court Judge Melinda Harmon. As part of the proposed settlement, Northern Trust has agreed to give up any claim it might have against Enron arising out of or relating to the Enron employee benefit plans. Because the proposed settlement is being funded entirely by insurance proceeds, it will have no impact on Northern Trust’s earnings.

About Northern Trust

Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of investment management, asset and fund administration, fiduciary and banking solutions for corporations, institutions and affluent individuals worldwide. Northern Trust, a multibank holding company based in Chicago, has a growing network of 84 offices in 18 U.S. states and has international offices in 12 locations in North America, Europe and the Asia-Pacific region. As of December 31, 2005, Northern Trust had assets under custody of $2.9 trillion, and assets under investment management of $618 billion. Northern Trust, founded in 1889, has earned distinction as an industry leader in combining high-touch service and expertise with innovative products and technology. For more information, visit http://www.northerntrust.com.