Murray Goes TRO with Nylim Retirement Plan Services

[Ma Nylim Retirement via BizWire]

NORWOOD, Mass.--(BUSINESS WIRE)--April 29, 2004--NYLIM Retirement
Plan Services, a division of New York Life Investment Management LLC
(NYLIM), announced that it has been appointed as total retirement
outsourcing (TRO) provider for Murray, Inc., a leading manufacturer of
lawnmowers, snow-throwers, go-karts, and other outdoor power equipment
and recreational products.
Murray, Inc., based in Brentwood, Tenn., converted its $127
million pension to a bundled environment February 1, 2004. Its $32
million 401(k) plan is moving to the NYLIM Retirement Plan Services
platform in April. Murray's pension plan benefits 4,600 participants
and its 401(k) covers almost 1,600.
"Before, we had seven partners as opposed to one now. That told us
there's got to be a better way," said Gary Watts, who served as
Murray's director of taxes and retirement benefit accounting at the
point Murray decided to outsource both of its retirement plans to
NYLIM. Mr. Watts is now factory controller for the manufacturer.
"The people at NYLIM are wonderful to work with. They're right on
top of every issue, the communication is great and we're very
satisfied with the services we've received," said Janice Hardiman,
retirement plans administrator for Murray.
"Many plan sponsors today are enjoying the benefits of outsourcing
their whole retirement program and we are so pleased to have been
chosen by Murray for this important role," said Tom Clough, managing
director of NYLIM Retirement Plan Services.

About Murray, Inc.

For five generations, the people of Murray have combined hard work
and a dedication to quality with a commitment to innovation and
change. For today's consumers, the result is a brand new line of lawn
tractors and walk-behind mowers, not to mention state-of-the-art
snow-throwers, chipper shredders, GoKarts, SnoRacers and more. For
more information, see Murray's website at www.murray.com.

About NYLIM Retirement Plan Services

NYLIM Retirement Plan Services oversees more than 1,500
comprehensive defined contribution, defined benefit and deferred
compensation plans as of February 29, 2004. With offices in Norwood,
Massachusetts, and Parsippany, New Jersey, NYLIM Retirement Plan
Services administers retirement programs for small, medium and large
companies, multi-employer plans, and individuals throughout the United
States, and is widely recognized for its leadership in bundled defined
contribution and bundled defined benefit plans.
With more than $183 billion in assets under management as of
February 29, 2004, New York Life Investment Management and its
affiliates provide investment management and related services to a
wide range of individual, corporate, public, and Taft-Hartley clients.
NYLIM offers institutional asset management, retail investments,
retirement plan services, guaranteed products, real estate
investments, and alternative investments. For more information, visit
NYLIM's website at www.nylim.com.