New York Life Retirement Plan Services Appointed To Administer Two Retirement Programs

WESTWOOD, Mass., July 24, 2013 /PRNewswire/ -- New York Life Retirement Plan Services (New York Life) is pleased to announce its appointment by two new clients – the retirement programs for AMC Entertainment, Inc. (AMC) of the Kansas City metro area, and Dead River Company of South Portland, Maine.

The defined contribution and defined benefit plans of energy provider Dead River Company – totaling $52 million in assets – transitioned to the New York Life platform in mid-April. AMC, a movie cinema operator, is expected to convert its defined contribution and non-qualified plans in August, with a defined benefit plan to transition shortly thereafter. AMC's search for a new retirement plan provider was conducted by the organization's independent investment advisor, Michael Ashman, CFA and managing senior consultant at Alan Biller and Associates.

Both AMC and Dead River Company will be supported by New York Life's Manufacturing, Materials, & Retail industry practice service team.

"Through our dedicated industry practice service model, New York Life has extensive experience supporting the unique needs of manufacturing and retail companies and their employees. We are thrilled to welcome these new clients," said Scott Francolini, New York Life's national practice leader for Manufacturing, Materials, & Retail clients.

New York Life is a leading retirement plan provider to U.S. corporations and unions, based in Westwood, Massachusetts. The firm's recent client wins bring its total book of mid- to large-plan business to 408 clients. In total, New York Life administers $47 billion in retirement plan assets, representing more than 1.2 million participants, as of June 30, 2013.

"Our strategic shift to an industry practice model has allowed our sales team to think differently about how we approach the market. It enables us to focus on helping plan sponsors and their advisors achieve overall business success, which has had a positive impact on our own business model. We look forward to collaborating with our two newest clients to help meet their needs and the overall financial goals of their employees," added Patrick Murphy, managing director of sales for New York Life Retirement Plan Services.

About AMC Entertainment Inc.

AMC Entertainment Inc. delivers distinctive and affordable movie-going experiences in 344 theatres with 4,988 screens primarily in the United States. The company operates 25 of the 50 highest grossing theatres in the country, including four of the top five. AMC has propelled industry innovation and continues today by delivering premium sight and sound, enhanced food and beverage, and diverse content. AMCTheatres.com.

About Dead River Company

Founded in 1909 by Charles Hutchins, Dead River Company originated in the forest products industry along the banks of the Dead River, from which the company got its name. Today, Dead River Company is the largest retailer of home heating products in northern New England. Offering an expanded energy portfolio, the company also sells around-the-clock and off-peak electricity supply in Maine. Known for their highly-skilled and quality technical services, Dead River Company designs, installs, and services heating and cooling systems fueled by oil, propane, kerosene, natural gas, and electricity. Energy professionals provide 24-hour emergency response service, as well as advice on how to achieve fuel conservation and efficiency goals.

The company's Dead River Properties division is actively engaged in commercial real estate, developing, owning, and managing a large portfolio of properties from Maine to Florida. For more information, visit www.deadriver.com.

About New York Life Retirement Plan Services

New York Life Retirement Plan Services offers bundled retirement plan solutions and defined contribution investment only products throughout the United States. New York Life Retirement Plan Services, a division of New York Life Investment Management LLC, administers more than $47 billion in bundled retirement plans as of June 30, 2013. With offices in Westwood, Massachusetts, Parsippany, New Jersey, and San Francisco, New York Life Retirement Plan Services is widely recognized for its leadership within the retirement plan industry.

SOURCE New York Life Retirement Plan Services