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Margaret Kirch Cohenmargaret.cohen@morningstar.com
Morningstar Associates Selected as Independent Financial Expert for NYLIM Retirement Plan Services` New Managed Account Solution
CHICAGO, Oct. 12, 2004 – Morningstar Associates, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc., today announced that NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), has chosen Morningstar as the independent financial expert for its new managed account service. NYLIM’s new service includes professionally managed accounts, the ability to automatically increase savings over time, and regular updates on how participants are progressing toward their individual goals.

“NYLIM’s new managed account solution addresses the essential needs of 401(k) participants--an easy, automatic way to save and invest,” said John Rekenthaler, president of Morningstar Associates. “401(k) participants can rest assured knowing that their savings rate will automatically rise over time. They`ll also have the benefit of professional investment management, and will receive regular updates that show their progress toward specific targets--all of which will help them reach their retirement goals.”

According to NYLIM, its new managed account service will be available to its mid- and large-sized plan sponsor clients and their plan participants beginning in the first quarter of 2005. Morningstar Associates will provide NYLIM with the following services:

  • Fully customized investment portfolios that are designed for plan participants who enroll in NYLIM’s managed account service. Portfolios will be constructed by taking into account all relevant plan rules, fund restrictions, and a participant’s personal and financial situation, including outside assets, preferences for particular funds, or other personal data. In addition, Morningstar will provide NYLIM with ongoing monitoring and rebalancing/reallocation guidelines.
  • Investment data to support NYLIM’s annual report to participants. Each report will provide personalized analysis, illustrating any gap that may exist between how much participants have saved for retirement, and how much they may need to save in order to reach their goals. These `gap analysis` reports will be made available to all participants of NYLIM’s plan sponsor clients, whether or not they are enrolled in their company’s 401(k) plan.
  • Investment data to support NYLIM’s plan sponsor report cards, which illustrate how all participants in a plan perform against a predefined salary replacement goal.

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 Aug. 31, 2004. With offices in Norwood, Massachusetts, and Parsippany, New Jersey, NYLIM Retirement Plan Services administers retirement programs for small, medium, and large companies, multiemployer 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 $180 billion in assets under management as of Aug. 31, 2004, New York Life Investment Management 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 Web site at www.nylim.com.

About Morningstar, Inc. and Morningstar Associates
Morningstar, Inc. is a leading provider of independent investment research in the United States and in major international markets. The company offers an extensive line of Internet, software, and print-based products and services for individuals, financial advisors, and institutional clients. Morningstar tracks more than 100,000 investment offerings, including stocks, mutual funds, and similar vehicles. The company has operations in 16 countries. Advisory services are offered through Morningstar Associates, LLC, a registered investment advisor and wholly owned subsidiary of Morningstar, Inc. Morningstar retirement services are available to more than 10 million people through approximately 63,000 retirement plan sponsors and 29 plan providers, as of June 30, 2004.

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