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New York Life Selected As A Featured Employer By AARP

Company Joins AARP Initiative Recognizing Competitive Advantages of Having Mature Workers in the Workplace

NEW YORK, N.Y., November 17, 2005 — New York Life Insurance Company announced its inclusion in AARP's "Featured Employers" program that aims to help Americans aged 50 and over remain in the workforce as desired.

"New York Life is privileged to be given this unique opportunity to partner with the AARP as one of their featured employers," said Sy Sternberg, chairman and chief executive officer of New York Life Insurance Company. "Being a featured employer underscores our sound diversity policy and further illustrates that we value the skills, experience and reliability that mature employees bring to the workplace. For over 160 years, the strong contributions of our mature workers has enabled New York Life to help families plan for the future and we are confident that the 50-plus community will continue to enhance New York Life's business for years to come."

"American business is facing a new reality," AARP CEO Bill Novelli said. "As more and more workers reach traditional retirement age, there are not enough new workers to replace them. We are working with forward-thinking companies who value older workers to offset labor and knowledge gaps. This is a winning strategy for American business, for the older workers themselves and for our national economy," he continued.

By 2010, almost one in three workers will be at least 50. As boomers begin to approach retirement age, the pool of replacement workers will not be ample enough to meet employers' labor demands. In working with the AARP, New York Life has recognized the need to prepare for the changing workforce, and is adapting human resource practices to address these demographic shifts.

Job seekers can visit AARP's Web site - www.aarp.org/featuredemployers - to learn about each Featured Employer, including types of skilled and non-skilled jobs available on employers' Web site, benefits, and how to apply. The Web site provides a link to applications, instructions and additional information on each company.

AARP is a nonprofit, nonpartisan membership organization that helps people 50+ have independence, choice and control in ways that are beneficial and affordable to them and society as a whole. We produce AARP The Magazine, published bimonthly; AARP Bulletin, our monthly newspaper; AARP Segunda Juventud, our bimonthly magazine in Spanish and English; NRTA Live & Learn, our quarterly newsletter for 50+ educators; and our Web site, www.aarp.org. AARP Foundation is an affiliated charity that provides security, protection and empowerment to older persons in need with support from thousands of volunteers, donors and sponsors. We have staffed offices in all 50 states, the District of Columbia, Puerto Rico and the U.S. Virgin Islands.

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. Headquartered in New York City, New York Life's family of companies offers life insurance, annuities and long-term care insurance. New York Life Investment Management LLC 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.

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New York Life Selected As A Featured Employer By AARP

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