SunTrust Bank and Crestar Financial will merge their defined...

SunTrust Bank and Crestar Financial will merge their defined contribution and defined benefit plans Jan. 1, said Donna Lange, benefits manager at SunTrust. Both the new $1 billion pension fund and $1.5 billion defined contribution plan will continue to use internally managed mutual funds, which are managed now by the combined company. Atlanta based-SunTrust’s assets comprise about two thirds of each of the new plans, Ms. Lange said. The STI Classic Income and Growth fund, formally a Crestar fund, will be added to the defined contribution plan to bring its total number of options to eight, including a company stock option.