PHARMACEUTICAL ASSOCIATION APPOINTS NYLIM RETIREMENT PLAN SERVICES TO ADMINISTER ITS PENSION         

WESTWOOD, Mass., April 25, 2005 – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced that it has been chosen to administer the pension plan for The Pharmaceutical Research and Manufacturers of America (PhRMA), a Washington-based advocacy group for the pharmaceutical industry.  PhRMA will shift its Defined Benefit plan to a bundled environment under this new arrangement with NYLIM Retirement Plan Services. 

              A bundled pension plan uses one provider, such as NYLIM Retirement Plan Services, for most or all of the services necessary to maintain it.  Such services include administration, investment management, trust, actuarial consulting and employee communications. A traditional pension structure might often employ 5 or more vendors for these tasks.   

            Barbara Delaney of Fundamental Foundations of America, LLC, located in Nanuet, NY, assisted PhRMA in its search for a new pension plan provider and will continue to work for PhRMA as a consultant.

  “Until now, we had administered our pension plan in-house with outside actuarial help,” said Marcia Campbell of PhRMA.  “Now that we’ve converted to a bundled scenario with NYLIM, our financial and HR staff can focus on other important functions and leave most of the retirement plan details to an outside expert.”

“PhRMA helps pharmaceutical companies work toward new cures for some of the world’s most terrible diseases.  At NYLIM, we provide the best retirement plan services available today so that clients like PhRMA can concentrate on their crucial work,” said Tom Clough, managing director of NYLIM Retirement Plan Services. “We look forward to a great relationship with PhRMA.”

About PhRMA

The Pharmaceutical Research and Manufacturers of America (PhRMA) represents the country’s leading pharmaceutical research and biotechnology companies, which are devoted to inventing medicines that allow patients to live longer, healthier, and more productive lives.   PhRMA members invested an estimated $33.2 billion in 2003 in discovering and developing new medicines.  PhRMA companies are leading the way in the search for new cures.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services oversees more than 2,100 comprehensive defined contribution, defined benefit and deferred compensation plans as of February 28, 2005. With offices in Westwood, Massachusetts, and Parsippany, New Jersey, NYLIM 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 $189 billion in assets under management as of February 28, 2005, 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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Contact:
Sarah Lazarus
SSL Media Relations
978-369-4478
sarahlaz@worldnet.att.net