NORWOOD, Mass. – NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), announced today that it has been chosen by Jordan’s Furniture Company, a New England furniture retailer, to manage its $24 million Profit Sharing/401(k) plan. 

Jordan’s Furniture, based in Avon, Mass., has approximately 1,200 participants in its retirement plan.  NYLIM will provide asset management, plan administration and recordkeeping services.

Hobbs Group Investment Advisors, LLC (HGIA) managed the request for proposal, utilizing their unique internet-based provider search engine (ePS) to facilitate the process.  HGIA, a wholly owned subsidiary of Hobbs Group, LLC, is a national retirement plan consulting firm that specializes in provider searches, investment and plan performance monitoring and general plan consulting for mid- to large-plan sponsors.

“At Jordan’s, superior customer service is one of our guiding principles,” said Christopher McNeil, Director of Compensation and Benefits at Jordan’s.  “As such, we wanted our retirement plan provider to have the same philosophy.  NYLIM Retirement Plan Services wins high marks from its clients for unmatched service and true retirement plan outsourcing.  These are among the key reasons why we’ve chosen NYLIM to manage our retirement plan.”

“There is clearly a very strong cultural fit between Jordan’s and NYLIM Retirement Plan Services.  Jordan’s offers its employees exceptional benefits, and NYLIM, with its award-winning retirement product, technology platform and customer service, will help them do that,” said Paul Leblanc of HGIA. 

“We are very pleased to have been selected,” said Tom Clough, managing director of NYLIM Retirement Plan Services.  “Jordan’s Furniture is a household name in New England and a very well-respected company and brand.   We look forward to meeting and exceeding Jordan’s expectations the same way that Jordan’s exceeds expectations with its many customers.” 

About Jordan’s

Jordan’s Furniture was founded over 100 years ago by Eliot and Barry Tatelman’s grandfather, Samuel.   The furniture retailer, with stores in Avon, Natick and Waltham, Mass. and Nashua, N.H., has been providing well-built, quality furniture ever since to the people of New England.  Jordan’s is one of the highest per-square-foot sellers of furniture in the country. 

About Hobbs Group, LLC

Hobbs Group, LLC is a consulting practice encompassing four disciplines: health & welfare, voluntary benefits, retirement services and executive benefits planning.  Within each discipline, Hobbs Group is known for creating innovative programs that are flexible and respond to today’s diverse workforce.  More information about Hobbs Group, LLC can be obtained at their website www.hobbsgroup.com .

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services administers more than 1,500 comprehensive defined contribution, defined benefit and deferred compensation plans as of December 31, 2002.  NYLIM Retirement Plan Services oversees retirement programs for small, medium and large companies, unions, 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 $155 billion in assets under management as of December 31, 2002, 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.

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SSL Media Relations                                 

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