WESTWOOD, Mass., February 25, 2008 – New York Life Retirement Plan Services (New York Life), a division of New York Life Investment Management LLC (NYLIM), announced it received the industry’s highest overall client satisfaction rating in Boston Research Group’s (BRG) 2007 Defined Contribution Provider Study.   According to the study, New York Life received a 97 percent client satisfaction rating, an industry best among the 18 providers rated in the study.    

        “New York Life has always differentiated itself through a commitment to service excellence, and this study validates that commitment,” said Don Salama, senior managing director and head of New York Life Retirement Plan Services.  “The BRG study has proven time and again that New York Life is in the top echelon of plan providers, and we are very proud of these results.”

        In addition to top overall satisfaction ratings, New York Life earned 100 percent satisfaction scores in eight key categories measured by the BRG Study, including:

• Recordkeeping
• ERISA Services
• Participant Website
• Sponsor Website
• Participant Statements
• Phone Representatives
• Performance of Recordkeeper Investments
• Broker/Agent 401(k) Service

        Additionally, New York Life received a unanimous endorsement from its sponsors in critical relationship factors including ease in doing business, maintaining resources to offer the best plan, minimizing administrative burdens, and understanding the sponsors’ needs.
        The Boston Research Group is a leading market research firm for the financial services industry with the annual DCP study being widely recognized as an industry report card.  The annual study polls plan sponsors with $5 million or more in plan assets, with the plan sponsor sample pulled from the 401(k) Exchange database.  Boston Research Group asked plan sponsors to identify and rate their plan provider to determine their satisfaction with their 401(k) provider’s products and services.

Source: Boston Research Group, DCP 2007.

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 1,500 employees, NYLIM manages over $249 billion in assets as of December 31, 2007.

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Contact:
Sarah Lazarus
CL- Media Relations
T: 978-369-4478
sarah@cl-media.com

Nancy Paris
New York Life Investment Management
T: 973-394-4410
Nancy_Paris@nylim.com