Software promotes retirement readiness.
Press Release Summary:
TRAC® retirement recordkeeping platform enables retirement plan providers to forecast retirement balance and monthly retirement income of plan participants. To provide more complete retirement income picture, projected benefits from defined benefit plan can also be included on statement. This tool, used to educate plan participants about their readiness for retirement, promotes increased participant awareness and encourages more active savings.
Original Press Release:
DST Leverages TRAC Technology to Promote Retirement Readiness
TRAC Enables Providers to Project Retirement Balance and Monthly Income on Participant Statements
KANSAS CITY, Mo., Dec. 18 -- Retirement plan providers have a new tool for educating participants about their retirement readiness. The TRAC(R) retirement recordkeeping platform from DST Systems, Inc. now enables providers to forecast the retirement balance and monthly retirement income of plan participants. Projected benefits from a defined benefit plan also can be included on the statement, providing a more complete retirement income picture.
"Our customers continue to look for new tools to educate plan participants about their readiness for retirement," said Jeff Carroll, client relationship officer at DST Systems, Inc. "With this information, our clients can increase participant awareness and encourage more active savings."
"With the new income projection capabilities on TRAC, DST demonstrates its commitment to supporting our participant education goals," said Kim Herter, vice president, MFS Retirement Services. "By providing this information on participant statements, we can send a compelling, customized message to each participant about the need to proactively save for retirement."
DST offers this capability in conjunction with subsidiary DST Output. DST Output provides statement design capabilities to help customers maximize the educational value of this information. Through a single, end-to-end solution, DST makes it easier for its clients to integrate their educational programs into their participant communications.
DST Systems, Inc. provides sophisticated information processing and computer software services and products that help clients improve productivity, increase efficiencies, and provide higher levels of customer service. DST is organized domestically and internationally into two operating segments: Financial Services and Output Solutions. DST operates one of the most advanced data centers in the world, which provides information-processing services to support the products within each operating segment. These products are further enhanced through the integration of DST's advanced technology and e-commerce solutions.
CONTACT: Jill Patton, Media Relations, of DST Systems, Inc., +1-816-843-9087
