New York Life Investment Management Llc

Allegations: THE MAIN ALLEGATION OF THE COMPLAINT IS THAT PLAN FIDUCIARIES VIOLATED ERISA BY NOT OFFERING THE LEAST EXPENSIVE S&P 500 INDEX FUND AVAILABLE. Status: Final Summary: THE PLAITIFF ALLEGES THAT PLAN FIDUCIARIES VIOLATED ERISA BY NOT OFFERING THE LEAST EXPENSIVE S&P 500 INDEX FUND AVAILABLE.

Allegations: A CIVIL PENALTY TO NEW YORK LIFE INSURANCE COMPANY BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT. Status: Final Sanction Detail: IN MARCH 2014, NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $5,000 TO THE KENTUCKY DEPARTMENT OF INSURANCE BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT. Summary: IN MARCH 2014, NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $5,000 TO THE KENTUCKY DEPARTMENT OF INSURANCE BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT.

Allegations: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NEW YORK LIFE INSURANCE COMPANY ("NYLIC") WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS. Status: Final Sanction Detail: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS. Summary: THE ILLINOIS DEPARTMENT OF INSURANCE CONDUCTED A MARKET EXAM, THE REPORT OF WHICH IDENTIFIED CERTAIN AREAS WHERE NYLIC WAS NOT IN COMPLIANCE WITH ILLINOIS INSURANCE REGULATIONS. NYLIC AND THE IL DEPT OF INSURANCE ENTERED INTO A STIPULATION AND CONSENT ORDER UNDER WHICH NYLIC WILL PAY A CIVIL PENALTY AND INSTITUTE POLICIES AND PROCEDURES TO COMPLY WITH APPROPRIATE REGULATIONS.

Allegations: NYLIC ADMITTED TO THE FACTS AND ACCEPTED THE MARYLAND ADMINISTRATION'S CONCLUSIONS AS STATED IN THE EXAMINATION REPORT (MCLH-17-2011-E), IN RELATION TO NOT OFFERING THE BENEFICIARY IN WRITING AN EXPLANATION OF THE FEATURES OF THE RETAINED ASSET ACCOUNTS. NYLIC DENIED LIABILITY TO ANY THIRD PARTY AS A RESULT OF THE VIOLATIONS. Status: Final Sanction Detail: NYLIC AND THE MARYLAND ADMINISTRATION AGREE TO THE TERMS OF THE ORDER WHERE NYLIC PAID $1000 IN PENALTIES AND IMPLEMENTED REMEDIAL MEASURES. Summary: NYLIC ADMITTED TO THE FACTS AND ACCEPTED THE MARYLAND ADMINISTRATION'S CONCLUSIONS AS STATED IN THE EXAMINATION REPORT (MCLH-17-2011-E), IN RELATION TO NOT OFFERING THE BENEFICIARY IN WRITING AN EXPLANATION OF THE FEATURES OF THE RETAINED ASSET ACCOUNTS. NYLIC DENIED LIABILITY TO ANY THIRD PARTY AS A RESULT OF THE VIOLATIONS.

Allegations: A CIVIL PENALTY TO NEW YORK LIFE INSURANCE COMPANY BECAUSE A THIRD PARTY ADMINISTRATOR WORKING ON ITS BEHALF FAILED TO COMPLY WITH THE HEALTH INSURANCE CLAIM PAYMENT STANDARDS UNDER THE KENTUCKY PROMPT PAY ACT. Status: Final Sanction Detail: NYLIC PAID $6000 TO THE STATE OF KENTUCKY ON OCTOBER 30, 2014. Summary: IN OCTOBER 2014 NEW YORK LIFE INSURANCE COMPANY PAID A CIVIL PENALTY IN THE AMOUNT OF $6000 TO THE KENTUCKY DEPARTMENT OF INSURANCE.

Allegations: AS A RESULT OF A ROUTINE MARKET CONDUCT EXAMINATION OF THE AFFAIRS OF NEW YORK LIFE INSURANCE COMPANY FOR THE PERIOD FROM JANUARY 1, 2005-DECEMBER 31, 2009, THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES FOUND THAT NEW YORK LIFE VIOLATED SECTION 53-3.5(A), 53-3.2(A)(2) AND 533.6(B) OF DEPARTMENT REGULATION NO. 74 AS WELL AS NEW YORK INSURANCE LAW SECTION 3201(B)(1). Status: Final Sanction Detail: IN OCTOBER 2016, NEW YORK LIFE PAID A CIVIL PENALTY OF $732,067.00. Summary: THE FINDINGS BY THE NEW YORK STATE DEPARTMENT OF FINANCIAL SERVICES HAVE BEEN RESOLVED THROUGH A CONSENT ORDER.

Allegations: DURING THE COURSE OF A ROUTINE MARKET CONDUCT EXAM, THE STATE OF CONNECTICUT INSURANCE DEPARTMENT (THE STATE) FOUND NEW YORK LIFE INSURANCE COMPANY DID NOT TIMELY PAY LONG TERM CARE CLAIMS IN FOUR INSTANCES. Status: Final Sanction Detail: NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017. Summary: NEW YORK LIFE INSURANCE COMPANY WAS FINED $1,000.00, WHICH WAS PAID TO THE STATE IN DECEMBER 2017.

Allegations: ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW. Status: Final Sanction Detail: ON OCTOBER 4, 2021 NEW YORK LIFE INSURANCE COMPANY ("NYLIC") RECEIVED AN ORDER OF CIVIL PENALTY AND ADOPTION OF A CORRECTIVE ACTION PLAN FROM THE KENTUCKY DEPARTMENT OF INSURANCE ALLEGING THAT NYLIC INCORRECTLY IMPLEMENTED PREMIUM RATE INCREASES ON 112 INDIVIDUAL LONG TERM CARE CONTRACTS IN VIOLATION OF KENTUCKY INSURANCE LAW. MONETARY FINE: $112,000 Summary: MONETARY FINE: $112,000

Allegations: THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW. Status: Final Sanction Detail: THE OFFICE OF THE MONTANA STATE AUDITOR, COMMISSION OF SECURITIES AND INSURANCE ("CSI") FOUND THAT SINCE 2015 NEW YORK LIFE INSURANCE COMPANY AND NEW YORK LIFE INSURANCE AND ANNUITY CORPORATION (COLLECTIVELY, "NYL") USED GROUP LIFE INSURANCE AND GROUP ANNUITY FORMS THAT HAD NOT BEEN APPROVED BY THE CSI, PROVIDED COVERAGE UNDER SUCH FORMS TO MONTANA RESIDENTS AND DID NOT SUBMIT THE FORMS FOR APPROVAL AS REQUIRED UNDER MONTANA LAW. MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT. Summary: MONETARY FINE: $10,000 THE MARCH 23, 2021 CONSENT AGREEMENT RESOLVES THE ALLEGATIONS AGAINST NYL AND WAS ENTERED WITHOUT ADJUDICATION OF ANY ISSUE, LAW OR FACT.

Allegations: NEW YORK LIFE INSURANCE COMPANY FAILED TO USE POLICY FORMS THAT WERE REVIEWED AND APPROVED BY THE STATE. IN ADDITION, CERTAIN FORMS DID NOT COMPLY WITH STATE REGULATIONS. Status: Final Sanction Detail: NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS. Summary: NEW YORK LIFE AGREED TO A CONSENT ORDER FROM THE STATE AND PAID A FINE OF $100,000 RELATED TO USE OF FORMS IN THE STATE WHICH WERE NOT APPROVED BY OR DID NOT COMPLY WITH STATE REGULATIONS. IN ADDITION TO PAYING THE FINE OF $100,000 ON 12/22/2023, NYL IS ALSO AMENDING FORMS AND AGREEMENT AND RESUBMITTING THEM TO THE STATE TO COMPLY WITH THE APPROPRIATE REGULATIONS.