New York Life Retirement Plan Services Expands West Coast Presence

SAN FRANCISCO and WESTWOOD, Mass., Dec. 9 /PRNewswire/ -- New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, announced today its extension of participant call center hours to better support West coast clients and the expansion of its West coast presence with the hiring of two strategic communications consultants.

New York Life's retirement plan expansion in San Francisco represents an important area of long-term growth for the firm, even amidst a tumultuous economic climate, and allows the company to better serve its growing base of West coast clients. In addition, the firm has now extended its participant call center hours from 8:00 a.m. ET to 10:00 p.m. ET. (5 a.m. PT to 7 p.m. PT) to better support the needs of participants on the West coast.

The two new San Francisco-based strategic communications consultants, Kay M. Fahlstrom and Tracey Hall, took up their roles at New York Life Retirement Plan Services in September servicing the company's growing number of clients based in the Western United States. Fahlstrom and Hall report to Katie Blake in the firm's Westwood, Mass. headquarters and work with James Watts, executive relationship manager at New York Life Retirement Plan Services, who relocated to San Francisco in March to lead the new West Coast client service effort.

Fahlstrom was previously an education consultant and senior marketing manager at Schwab Corporate Services in San Francisco. Hall served as a communications manager with Wells Capital Management, San Francisco, and a director of plan sponsor marketing communications with Fidelity Investments, Marlborough, Mass.

"We are working hard to meet the service needs of our client base, no matter where they are located," said Don Salama, senior managing director and head of 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 September 30, 2008. 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, (NYLIM) ranks among the largest asset management firms in the United States.(1) Through its multiple boutique investment structure, NYLIM delivers investment performance through an array of products designed for both institutional and retail clients. Through MainStay Investments and NYLIFE Distributors LLC, 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 $239 billion in assets as of September 30, 2008.

"New York Life Investment Management" and "NYLIM" refer to New York Life Investment Management Holdings LLC, a wholly-owned subsidiary of New York Life Insurance Company.

(1)Source: NYLIM ranked 28th among the world's largest money managers within Pensions & Investments, May 26, 2008, "The Largest Money Managers". Rankings are based on total worldwide institutional assets under management, for the year-end 2007.

SOURCE New York Life Retirement Plan Services

CONTACT: Sarah Lazarus, CL- Media Relations for New York Life, +1-978-369-4478, [email protected]; Allison Scott of New York Life Investment Management, +1-212-576-4517, [email protected]