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New York Life Recognized By National Association Of Female Executives As A Top Company For Executive Women

Company Named to List as Champion for Women's Advancement

NEW YORK, N.Y., March 7, 2006 — For the first time, New York Life Insurance Company has earned a spot on the National Association for Female Executives "Top 30 Companies for Female Executives" list. New York Life was recognized for championing women's advancement and for its dedication to the development and advancement of women in the workplace including support programs, succession planning and work–life balance programs.

"We are proud of this distinct honor which acknowledges New York Life's deep commitment to the professional development of women at New York Life," said Sheila Davidson, Executive Vice President in charge of Law & Corporate Administration, New York Life Insurance Company. "New York Life is a company that values its employees and this award recognizes that we support and encourage women to reach their highest potential."

"Advancement of women remains a problem that many don't recognize as one simply because women now hold managerial positions at most American companies," said Dr. Betty Spence, president of NAFE. "I look forward to the day when all companies follow the lead of the NAFE Top 30."

NAFE is one of the largest women's professional associations and the largest women business owners' organization in the country. Companies that made the list were evaluated on the representation of women (especially at higher management levels), advancement programs, spending on healthcare and childcare and the availability of work–life programs.

New York Life is dedicated and committed to the development and advancement of women. For example, New York Life's Women's Market division's mission is to recruit and retain women managers and agents, increase sales to women and to discuss best practices when targeting the women's market. Most recently, the Women's Markets division hosted a Women's Market Conference, a two–day workshop for our field force.

In addition, New York Life's Women's Leadership Project (WLP), a breakthrough program, was designed to strengthen the corporate culture at New York Life and enhance leadership development for women employees at all levels in the organization. By attending seminars, workshops, and networking events women employees are challenged to maximize opportunities, enhance their career development and achieve their personal best. The WLP was launched in 2003 and has been a successful, informative program for women at New York Life.

New York Life also offers its employees benefits and programs to assist in balancing professional and personal responsibilities, allowing them to focus on career development and advancement. New York Life's women employees take advantage of the following:

  • The Employee Health Department provides a wide range of offerings and examinations and a convenient way to have a consultation with a doctor, meet with a visiting gynecologist, get yearly mammography exams, obtain a bone density/osteoporosis screening and pregnancy test.
  • The Fitness Center offers a way to maintain and improve mental and physical health during the workday through a full complement of cardio/weight machines and exercise classes that increase heart rate, improve muscle tone and increase flexibility. Samples of the classes, popular among women, include: aerobics, yoga, belly dancing, circuit training, burn & tone, six pack abs and Pilates. Additionally, tests and screenings such as body fat and nutritional/dietary analysis are also available.
  • The Child Care Center is an on–site backup center that offers mothers a way to supplement supervision when primary child–care arrangements fail.
  • The Elder Care and Child Care Resource and Referral Service helps employees locate and arrange for elder care. Elder care counselors provide referrals to recreational facilities, home health aides and nursing homes, as well as financial, legal and health care information. Child care counselors provide referrals to day care centers, family day care homes, nannies and in–home caregivers, before and after school programs and summer jobs and summer camps.
  • The Elder Care Tool Kit assists "the working caretaker," which may often be a woman, in planning care for elderly relatives. Topics such as advance directives, power of attorney, financial and banking concerns, as well as legal and estate information are covered.
  • The New Mothers Center offers lactating new mothers a comfortable, private space where they can enjoy a clean environment to continue breastfeeding after returning to work.
  • The Adoption Assistance Program provides eligible employees with a reimbursement of up to $5,000 for expenses associated with the adoption of a child including agency fees, court costs, legal fees and medical expenses for the birth mother. Eligible employees can also receive up to 4 weeks in paid adoption leave.
  • The Medical Leave Program includes Maternity Leave providing up to eight weeks of salary continuation benefits to employees with three or more years of service. An unpaid Child Care Leave of up to 26 weeks is offered to all employees, male (paternity) and female, following the birth or adoption of a child.

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 Recognized By National Association Of Female Executives As A Top Company For Executive Women

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