WESTWOOD, Mass., February 28, 2008 – New York Life Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced it has been appointed by The International Brotherhood of Electrical Workers (I.B.E.W.) Local 357 to administer its $215 million defined contribution plan. 

The member-directed plan provides retirement benefits for approximately 4,500 electrical workers in the Las Vegas, Nevada region.

“We are very pleased with the service we’ve received from New York Life and are looking forward to working with the team there going forward,” said Max Carter, assistant business manager for I.B.E.W. 357.

NEPC, LLC served as the investment consulting firm for I.B.E.W.’s provider search.   “I wish all DC vendor transitions were like this one with New York Life; and believe me, they are not,” said John S. Shanklin, CFA, consultant for NEPC based in Las Vegas. 

“New York Life Retirement Plan Services understands the union marketplace and has become a leader in providing retirement plans to it,” said Buck Bucci, the newly appointed head of New York Life Retirement Plan Services’ Taft-Hartley sales group.   “We are excited to be working with I.B.E.W Local 357.”

New York Life Retirement Plan Services is a growing leader in the Taft-Hartley market space, having tripled its Taft-Hartley business since 2004. 

About The International Brotherhood of Electrical Works Local 357

The International Brotherhood of Electrical Workers (I.B.E.W.) Local Union 357 represents some 4,500 electrical workers in the Las Vegas, Nev., region. 

About NEPC, LLC

NEPC, LLC is an employee-owned, full-service investment consulting firm. Founded in 1986, we are one of the largest, truly independent firms in the industry. We are headquartered in Cambridge, Massachusetts, and have additional offices in Detroit, Michigan; Charlotte, North Carolina; Las Vegas, Nevada; and San Francisco, California.

NEPC's sole line of business is investment consulting. Its full-service retainer relationships are characterized by an extraordinary service commitment, featuring ready access to its staff and resources, a high level of direct client interaction, and comprehensive investment consulting services. NEPC currently services over 265 retainer clients with total assets of roughly $300 billion. Its clients include defined benefit and defined contribution employee benefit plans, endowments, foundations, insurance, and private wealth investment programs.

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 December 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.

About New York Life Investment Management

New York Life Investment Management LLC ranks among the largest asset management firms in the United States.  Through its multiple boutique investment structure, NYLIM delivers competitive investment performance through an array of products designed for both institutional and retail clients. Through MainStay Investments, NYLIM distributes some of the most highly regarded mutual funds and wrap accounts in the industry. 

NYLIM is a leading provider of retirement plans for corporations, multi-employer trusts, and individuals, and is recognized as one of the nation’s top providers of guaranteed products to both the qualified and non-qualified markets. Together with its affiliates and over 1,400 employees, NYLIM manages over $249 billion in assets as of December 31, 2007.

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