New York Life Retirement Plan Services Sees Uptick in Auto- Enrollment and Managed Savings One Year After Pension Protection Act
U.S. Newswire, December, 2007
To: LABOR EDITORS
Contact: Sarah Lazarus, CL- Media Relations, 1-978-369-4478, sarah@cl-media.com, or Nancy Paris, New York Life Investment Management, 1-973-394-4410, Nancy_Paris@nylim.com, both for New York Life Retirement Plan Services
WESTWOOD, Mass., Dec. 24 /PRNewswire/ -- As a result of the Pension Protection Act (PPA) of 2006, New York Life Retirement Plan Services, a division of New York Life Investment Management, saw a dramatic increase in the client adoption of auto-enrollment and managed savings in 2007.
Analysis of 222 of New York Life's mid-sized, defined contribution clients revealed that plans with an auto-enrollment feature increased from 18 percent to 32 percent between January 1, 2007 and the end of September 2007. Also of note, those same...
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