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Article Excerpt WESTWOOD, Ma., and NEW YORK, Feb. 28 /PRNewswire/ -- NYLIM Retirement Plan Services, a division of New York Life Investment Management LLC (NYLIM), and Smith Barney's Consulting Group, a division of Smith Barney, the global wealth management unit of Citigroup , have been appointed by the Operating Engineers Local 138 to administer its defined contribution plan.
The Operating Engineers Local 138, based in Farmingdale, NY, provides retirement income benefits for more than 1,500 members. With nearly $184 million in assets, the plan switched from an unbundled, or traditional, retirement plan services structure, to a bundled service model. NYLIM Retirement Plan Services brings its award-winning bundled retirement plan services to this new relationship as well as managing some of the investment options within the plan through its proprietary fund family, MainStay Funds. Smith Barney's Consulting Group provides customized investment consulting advice...
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