WESTWOOD, Mass., July 17, 2007 – New York Life Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced that it will administer the $650 million defined contribution plan for the Annuity Fund of the International Union of Operating Engineers Local 15, 15A, 15B, 15C, 15D, AFL-CIO.  

The member-directed defined contribution plan provides retirement benefits for Operating Engineers who perform a number of critical functions on a jobsite, including heavy equipment operators, shop machinists and surveyors.   The 5000-member Operating Engineers Local 15 is based in New York City and serves the Five Boroughs of   New York City. 

“New York Life has both a great reputation among retirement plan providers and in the union marketplace, making the firm a natural choice to administer our plan going forward,” said James Callahan, President and Business Manager for Local 15.  

The Annuity Fund is managed by a four-member Board of Trustees representing both the union and management. 

New York Life   Retirement Plan Services is one of the leading providers of retirement plan services to the Taft-Hartley (union) marketplace having added more than $840 million in Taft-Hartley assets under administration in 2006 alone.

About New York Life Retirement Plan Services

New York Life Retirement Plan Services oversees more than 2,100 comprehensive defined contribution, defined benefit and deferred compensation plans as of May 31, 2007. With offices in Westwood, Massachusetts and Parsippany, New Jersey,  New York Life Retirement Plan Services administers retirement programs for small, medium and large companies, multi-employer plans, and individuals throughout the United States, and is widely recognized for its leadership in bundled defined contribution and bundled defined benefit plans.

With more than $247 billion in assets under management as of  May 31, 2007, New York Life Investment Management LLC and its affiliates provide investment management and related services to a wide range of individual, corporate, public, and Taft-Hartley clients. NYLIM offers institutional asset management, retail investments, retirement plan services, guaranteed products, real estate investments, and alternative investments. For more information, visit NYLIM’s website at www.nylim.com .

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Sarah Lazarus                                      
CL- Media Relations                           
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