New York Life Insurance and Annuity Corporation Annual ...

[Pages:64]New York Life Insurance and Annuity Corporation

Annual Report December 31, 2011

Variable Annuities Investing in NYLIAC Variable Annuity Separate Account IV

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Message From New York Life Insurance and Annuity Corporation

Dear Policyowner: We're pleased to provide the December 31, 2011 Annual Report(s) for the Investment Divisions in your New York Life variable annuity policy*. The reports contain performance information, financial statements, notes and highlights and other pertinent data for each of the Investment Divisions. In addition, some of the portfolio managers provide a discussion of their portfolio's performance. In an effort to both conserve resources and minimize the amount of paper mailed to you, we are providing the annual reports for the underlying investment divisions to you in a new format. Contained in this package is one or more annual report(s) for the investment divisions that your policy(ies) were allocated to as of December 31, 2011. You can sign up to receive future Annual Reports (as well as other policy documents and reports) via eDelivery** online at vsc. Once enrolled, you'll receive your Annual Reports by e-mail whenever they are released. We encourage you to take the time to review this information and evaluate the plans you have in place. Now would also be a good time to get in touch with your Registered Representative. He or she is a trained professional who can help you devise a strategy to meet your financial objectives. Even in difficult economic times we want to assure you of our commitment to helping you plan for your financial goals. We appreciate the trust you have placed with our company, and we will continue to evaluate our products and services in order to keep them responsive to your financial needs and the changing times. February 2012

* New York Life Variable Annuities are issued by New York Life Insurance and Annuity Corporation (A Delaware Corporation). ** Electronic delivery is currently offered to policyowners of variable annuities (except for policies formerly known as MainStay Variable

Annuities or New York Life Variable Annuities sold by registered representatives of third-party broker dealers). At this time, electronic delivery is not available for any New York Life products that are owned by Corporations, Trusts or other Organizations. For full details on electronic delivery -- including who can participate and what you can receive via eDelivery -- please log on to vsc.

SMRU # 468360

Annual Report Table of Contents

NYLIAC Variable Annuity Separate Account-IV

Statement of Assets and Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Statement of Operations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Statement of Changes in Net Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

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Notes to Financial Statements . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

28

Report of Independent Registered Public Accounting Firm . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

56

The 2011 Annual Report for the Portfolios of the MainStay VP Funds Trust is provided to those policyowners that had allocations to any of the following Investment Divisions as of December 31, 2011:

MainStay VP Balanced ? Service Class MainStay VP Bond ? Service Class MainStay VP Cash Management MainStay VP Common Stock ? Service Class MainStay VP Conservative Allocation ? Service Class MainStay VP Convertible ? Service Class Mainstay VP Flexible Bond Opportunities ? Service Class MainStay VP Floating Rate ? Service Class MainStay VP Government ? Service Class MainStay VP Growth Allocation ? Service Class MainStay VP Growth Equity ? Service Class

MainStay VP High Yield Corporate Bond ? Service Class MainStay VP ICAP Select Equity ? Service Class MainStay VP Income Builder ? Service Class MainStay VP International Equity ? Service Class MainStay VP Large Cap Growth ? Service Class MainStay VP Mid Cap Core ? Service Class MainStay VP Moderate Allocation ? Service Class MainStay VP Moderate Growth Allocation ? Service Class MainStay VP S&P 500 Index ? Service Class MainStay VP U.S. Small Cap ? Service Class

The individual 2011 Annual Reports for the following New York Life Variable Annuities Investment Divisions (other than Portfolios of the MainStay VP Funds Trust) are provided to policy owners based on their allocations as of December 31, 2011:

Alger Small Cap Growth ? Class S Shares (closed to new investors) BlackRock? Global Allocation V.I. Fund ? Class III Shares Calvert VP SRI Balanced Portfolio Columbia Variable Portfolio ? Small Cap Value Fund ? Class 2 Dreyfus IP Technology Growth ? Service Shares Fidelity? VIP Contrafund? ? Service Class 2 Fidelity? VIP Equity-Income ? Service Class 2 Fidelity? VIP Mid Cap ? Service Class 2 Janus Aspen Balanced Portfolio ? Service Shares Janus Aspen Worldwide Portfolio ? Service Shares

MFS? Investors Trust Series ? Service Class MFS? Research Series ? Service Class MFS? Utilities Series ? Service Class Neuberger Berman AMT Mid-Cap Growth Portfolio ? Class S PIMCO Real Return Portfolio ? Advisor Class Royce Micro-Cap Portfolio ? Investment Class Royce Small-Cap Portfolio ? Investment Class T. Rowe Price Equity Income Portfolio II UIF Emerging Markets Equity Portfolio ? Class II Van Eck VIP Global Hard Assets Victory VIF Diversified Stock ? Class A Shares

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NYLIAC Variable Annuity Separate Account-IV

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Statement of Assets and Liabilities

As of December 31, 2011

MainStay VP Balanced-- Service Class

ASSETS: Investment at net asset value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Dividends due and accrued . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Net receivable (payable) to New York Life Insurance and Annuity Corporation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$ 69,913,112 --

86,785

LIABILITIES: Liability to New York Life Insurance and Annuity Corporation for: Mortality and expense risk charges . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

148,401

Total net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 69,851,496

TOTAL NET ASSETS REPRESENTED BY: Net Assets of Policyowners: Series I Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Series II Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Series III Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Series IV Policies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .

$ 32,300,635 8,700,100

28,704,878 145,883

Total net assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 69,851,496

Series I variable accumulation unit value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

12.70

Series II variable accumulation unit value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

12.33

Series III variable accumulation unit value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

12.63

Series IV variable accumulation unit value . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $

9.59

MainStay VP Bond--

Service Class

$185,220,999 --

490,476

375,976 $185,335,499

$ 92,259,102 30,025,317 62,344,293 706,787

$185,335,499

$

15.21

$

11.82

$

11.82

$

10.52

MainStay VP Cash

Management

$261,010,451 2,354

(149,448)

502,755 $260,360,602

$151,661,447 29,682,212 77,642,639 1,374,304

$260,360,602

$

1.17

$

10.00

$

10.00

$

1.00

Identified Cost of Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 68,401,810 $181,741,347 $261,013,896

Not all investment divisions are available under all policies.

The notes to the financial statements are an integral part of, and should be read in conjunction with, the financial statements.

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