WESTWOOD, Mass., May 28, 2009 - New York Life Retirement Plan Services, a division of New York Life Investments, introduced today a tailored advice service designed specifically for union clients and their members.

This new service, "OnTargetSM Personal Advisor,"couples online access to extensive research, education and advice services through Morningstar^® Retirement Manager^SM, with New York Life's award winning participant services that include automatic rebalancing, targeted participant communications and participant service support for member-directed plans. Morningstar Associates acts as a fiduciary for the investment advice it provides through Morningstar Retirement Manager. 

OnTarget Personal Advisor is a service designed specifically to meet the unique complexities Taft-Hartley members face in retirement planning. These challenges include contribution amounts by multiple employers, contributions in hourly figures, pension information from multiple employers and, in many instances, their own 401(k) contributions.

The new service, available without charge to union providers, will be made available to New York Life's Taft-Hartley clients over the next several weeks. New York Life worked in conjunction with Morningstar Associates to create the Taft-Hartley-specific service, and is the only retirement plan provider currently offering the tailored service through Morningstar Associates.

"We are very excited to be an innovator with this important advice product for Taft-Hartley plans and their members," said Buck Bucci, director and head of Taft-Hartley Services at New York Life Retirement Plan Services. "Because this service takes into account the unique needs of union members and plans, we expect it to become an invaluable retirement planning tool for our union participant base."

"Developing a retirement strategy is complicated--determining how much you will need in retirement and what asset allocation is most appropriate to help meet retirement needs is not intuitive," said Patrick Reinkemeyer, president of Morningstar Associates, LLC. "Planning in a Taft-Hartley environment is even more complex, so we are very excited to launch this service with New York Life Retirement Plan Services."

About New York Life Retirement Plan Services
New York Life Retirement Plan Services oversees more than 1,900 comprehensive defined contribution, defined benefit and deferred compensation plans as of 3/31/2009. 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 Investments
New York Life Investments ranks among the largest asset management firms in the United States¹. Through its multiple boutique investment structure, New York Life Investments delivers investment performance through an array of products designed for both institutional and retail clients. Through MainStay Investments and NYLIFE Distributors LLC, New York Life Investments distributes some of the most highly regarded mutual funds and wrap accounts in the industry.

New York Life Investments 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, New York Life Investments manages over $224 billion in assets as of 3/31/2009.

"New York Life Investments" is a service mark used by New York Life Investment Management Holdings LLC and its subsidiary, New York Life Investment Management LLC.

About Morningstar, Inc. and Morningstar Associates, LLC.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutions. Morningstar provides data on more than 300,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 4 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. The company has operations in 19 countries and minority ownership positions in companies based in three other countries.

 Morningstar Associates, LLC, is a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. As of December 31, 2008, Morningstar Associates' retirement services were available to more than 8 million people through approximately 72,000 retirement plan sponsors and 17 plan providers.  Morningstar Retirement Manager is offered by and is the property of Morningstar Associates, and is intended for use by citizens and legal residents of the United States and its territories.