SunTrust Banks (STI) in Atlanta has enhanced its online offerings for institutional 401(k) customers with a new tool designed to help employees plan for retirement.
The $172.4 billion-asset bank announced Wednesday that its "retirement income control panel" lets employees estimate their monthly income at retirement.
Users can include Social Security, pension and outside assets in the calculation, the company said. The tool also gives users advice about how to save money for retirement.
"Retirement plan sponsors, regardless of size, want their employees to have access to better information in order to adequately prepare for retirement," said Brad Dinsmore, a SunTrust consumer and private wealth management executive, in a news release.