New York Life Investments and Reliance Trust Company Introduce New Stable Value Collective Trust for Small Defined Contribution Plans

WESTWOOD, Mass. and ATLANTA, Nov. 29, 2012 /PRNewswire/ -- New York Life Investments, a leading investment management company and subsidiary of New York Life Insurance Company, and Reliance Trust Company, one of the largest independent trust companies in the U.S., are pleased to announce the introduction of a new stable value fund, the Reliance Trust New York Life Anchor Account Series I.

The new stable value fund is available through the Reliance Trust Company Stable Value Employee Benefit Investment Trust, a collective trust established by Reliance Trust Company. Investment in the collective trust provides plans with a choice of three stable value share classes. The collective trust is intended to target the small-plan defined contribution retirement market.

The collective trust is valued daily and seeks to preserve principal and offer competitive yields. The stable value fund held by the collective trust is managed by New York Life Fixed Income Investors and backed by the financial strength of New York Life Insurance Company, including an Aaa financial strength rating from Moody's[1] and AAA from Fitch Ratings[2]. The new collective trust invests in a diversified portfolio of fixed income investments within the stable value fund, through a New York Life group annuity contract.

Through Reliance Trust's network of some 25 clearing brokers, representing approximately 70%[3] of the defined contribution plan market, 401k and government 457 plans can access New York Life's stable value capabilities.

"In this long-term, low-interest rate environment, investors are seeking principal protection with yield, as opposed to current near-zero percent rates from money market vehicles. Now, defined contribution plans of all sizes can tap into a stable value offering quite similar to what larger retirement plans can access," said Steven Dorval, managing director of defined contribution investments at New York Life Investments Group.

"We are very gratified to be working with New York Life on introducing this new stable value investment series, combining our strong trust capability and small-plan access with New York Life's expertise and financial strength," said William C. Harlow, president of Reliance Trust. "This is an exciting partnership for us that we expect to be quite successful."

Reliance Trust will serve as trustee and manager for the collective trust.

About New York Life Investments
New York Life Investments ranks among the largest asset management firms in the United States[4]. Through its multiple-boutique investment structure, New York Life offers access to an array of products designed for both institutional and retail clients. New York Life is a leading provider of retirement plans for corporations, multi-employer trusts and individuals, and is recognized as one of the nation's top providers of guaranteed products to both the qualified and non-qualified markets. Together with its affiliates and over 2,000 employees, New York Life Investments managed more than $355 billion in assets as of September 30, 2012.

About Reliance Financial Corporation

Reliance Financial Corporation is a privately held, Atlanta-based, diversified financial services and wealth management company with more than $116 billion in assets under management and administration as of September 30, 2012. Reliance conducts business throughout the United States through its trust companies, Reliance Trust Company based in Georgia (one of the largest independent trust companies in the country) and Reliance Trust Company of Delaware, and its other subsidiaries and affiliated offices. Please visit www.reliance-trust.com for information on all of the company's programs and services.

[1] Source: Moody's Ratings Report as of 7/20/2011.
[2] Source: Fitch Ratings Report as of 6/22/2012.
[3] Reliance Trust Company, November 2012
[4] Pensions & Investments, May 28, 2012

SOURCE New York Life Investments