Insurance and financial services conglomerate New York Life Insurance Co. is donating $2 million to establish the New York Life Center for Retirement Income at Bryn Mawr, Pa.-based financial educator The American College.The company said that the purpose of the endowment was to help address the demand for sound retirement income solutions among retired Americans. The gift to the nonprofit educator of insurance and financial professionals will provide permanent support for programming and research.
Specifically, the facility will provide funding to support continuing education, the creation of an annual guide for retirement planners, and continuing research on the subject of the retirement income needs of Americans.
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