New York Life Benefit Services Named Top-Rated Technology Provider In 401k Industry Survey.Business/Technology Editors NORWOOD, Mass.--(BUSINESS WIRE)--Nov. 21, 2000 New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of Life Benefit Services LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control (NYLB NYLB New York and Long Branch Railroad Company ) today announced that for the third year in a row, it has been named a "Top Rated" provider for participant technology in Plan Sponsor magazine's annual Defined Contribution Survey (November 2000). NYLB, a leading provider of defined contribution and defined benefit plans Defined benefit plan A pension plan obliging the sponsor to make specified dollar payments to qualifying employees at retirement. The pension obligations are effectively the debt obligation of the plan sponsor. Related: Defined contribution plan , also received a top rating for its loan withdrawal turnaround. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. the magazine, "New York Life's clients gave them high marks in the 1999 survey and they continue to be pleased with their vendor's service. Sponsor clients are particularly impressed by the positive feedback they are getting from their own plan participants Plan participants Employees or other beneficiaries who are eligible to receive benefits from a company's employee benefit plan. ." NYLB "is one of only four providers to receive commendations in both sponsor and participant technology and Web services." Thomas Clough, president of NYLB said: "We are very proud of the technology we've developed from the ground up. It is an honor to be recognized for our hard work by both participants and sponsors three years running." In total, 32 retirement plan providers were rated in each of the survey's 13 categories. NYLB also received "Commended" status for its plan sponsor reporting, Internet services and technology and for its participant Internet services and timeliness of reporting. According to the magazine, "Top Rated" represents the highest scores in a category and "Commended" represents the second highest group of scores in the category. Results are based on the responses of more than 1,600 retirement plan sponsors to a written survey. NYLB, based in Norwood, Mass., specializes in comprehensive defined contribution, defined benefit and deferred compensation plans. NYLB is an affiliate of New York Life Investment Management LLC (NYLIM NYLIM New York Life Investment Management LLC ). NYLIM offers specialist capabilities in money management, retirement benefit services, real estate management and individual and institutional investment services. Securities are offered through NYLIFE Securities Inc., 51 Madison Avenue, New York, NY 10010. |
|
||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion