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New York Life Named One of America's Best Adoption-Friendly Workplaces by the Dave Thomas Foundation for Adoption

 

Company Increases Adoption Reimbursement to $10,000

New York Life Ranks #19 in the Nation and #1 in Insurance Industry on Thomas List

NEW YORK, N.Y., October 5, 2010 - New York Life Insurance Company announced it moved up 81 positions to #19 in the nation and now ranks #1 in the insurance industry on the 2010 Best Adoption-Friendly Workplaces List released by the Dave Thomas Foundation for Adoption. New York Life was recognized for their Adoption Assistance program that provides paid leave and financial assistance to families adopting a child. The program currently offers up to $10,000 reimbursement of eligible adoption expenses as well as four weeks paid time off for the parent who is the primary caregiver and one week paid parental leave for the secondary caregiver.*

"New York Life's Adoption Assistance program is one of many programs that promote work/life balance and make our company an employer of choice," said Barry Schub, senior vice president and chief human resources officer, New York Life. "Policies that allow for time to bond with a new child and financial assistance to help defray the costs illustrate why we attract and retain top talent. Increasing our adoption reimbursement from $5,000 to $10,000 was the right thing to do and proves that humanity is one of New York Life's core values."

Today, more than 123,000 children are available for adoption in U.S. foster care. Most will spend nearly four years in the system before they are adopted. The release of the fourth annual Best Adoption-Friendly Workplaces List helps increase foster care adoption awareness while highlighting those businesses that support adoptive families.

The Adoption Assistance program at New York Life includes both financial support and paid leave for families who choose to adopt a child. To date, 82 New York Life agents and employees have taken advantage of this benefit.

Rankings for the Best Adoption-Friendly Workplaces List were determined by an analysis of 500 companies' adoption benefits available to employees who adopt, such as financial reimbursement and paid leave. In addition to ranking the top 100, the Foundation also recognized the top ten by size and the leaders of each industry. To view all of the honorees, visit www.DaveThomasFoundation.org.

New York Life Insurance Company, a Fortune 100 company founded in 1845, is the largest mutual life insurance company in the United States** and one of the largest life insurers in the world. New York Life has the highest possible financial strength ratings from all four of the major credit rating agencies. Headquartered in New York City, New York Life's family of companies offers life insurance, retirement income, investments and long-term care insurance. New York Life Investments*** provides institutional asset management and retirement plan services. Other New York Life affiliates provide an array of securities products and services, as well as institutional and retail mutual funds.

Please visit New York Life's Web site at www.newyorklife.com for more information.

* Secondary caregiver is defined as the parent who supplements the primary caregiver as needed to care for the child.
**New York Life is the largest mutual life insurance company based on the Fortune 500, ranked within industries, Insurance: Life, Health (Mutual), Fortune magazine, May 3, 2010.
***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.

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New York Life Named One of America's Best Adoption-Friendly Workplaces by the Dave Thomas Foundation for Adoption

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