Client Identification Number



RMDMultifunded2004reminder

Required Minimum Distribution reminder letter for multifunded products.

Client Identification Number

New York Life Insurance and Annuity Corporation

(A Delaware Corporation)

PO Box

City, ST Zip+XXXX

1-800-XXX-XXXX



Date Agent / Representative

Name

Policyholder’s Name Address

Street Address

Street Telephone Number

City, ST Zip+XXXX

Annuitant: XXXXXXXX

Policy: XX XXX XXX

Policy Cash Value as of 12/31/2003: $x,xxx,xxx

RMD for 2004: $x,xxx,xxx

Dear (name of the Policyholder):

Thank you for continuing your Individual Retirement Annuity (IRA) or Tax Sheltered Annuity (TSA) with New York Life Insurance and Annuity Corporation (NYLIAC).

Most owners of IRAs and TSAs who are age 70½ or older are required by the Internal Revenue Service (IRS) to make a minimum withdrawal from their annuity contract(s) each calendar year. This minimum withdrawal is called a Required Minimum Distribution (RMD).

You must take your RMD withdrawal by December 31, 2004 if you have:

1) An IRA (other than a ROTH IRA); or

2) A TSA and you have retired from the employer who maintains the TSA.

Please note the following:

You can meet your RMD requirements for this year by making withdrawals from this or another IRA or TSA. However, you may not make a withdrawal from an IRA to satisfy the RMD for a TSA, or vice versa. If you already took a withdrawal this year from the above referenced policy, or another IRA or TSA, you may not have to take a withdrawal at this time. Please check with your professional tax advisor if you are uncertain as to whether or not your RMD has been satisfied.

When you attain age 70½, the IRS allows you to postpone your first distribution until April 1 of the following year. Therefore, if you reach age 70½ this year, you may postpone your initial RMD until April 1, 2005. If you choose to postpone your RMD, you have until March 1, 2005 to return the enclosed RMD election form. However, you will be required to take two distributions in 2005 -- one by April 1, 2005, and one by December 31, 2005.

If your spouse is your sole beneficiary and is more than 10 years younger than you, your RMD may be less than the above amount. Please complete Section A2 on the enclosed election form if this is the case.

Please complete the enclosed Required Minimum Distribution Election Form and return it in the enclosed envelope by November 15, 2004. We cannot process an RMD for your policy unless we receive this form. Please note that you must take the RMD by December 31, 2004 in order to avoid IRS penalties. Failure to take a RMD before the close of this year may subject you to severe IRS penalties equal to 50% of the RMD amount that was not distributed.

Annuitant’s Last Name

Month DD, YYYY

Policy: XX XXX XXX

Page 2

Please note that the RMD amount is the minimum amount that you must withdraw in order to avoid an IRS penalty. You may withdraw more than the RMD amount; however, if your total withdrawals made during the year exceed the 10% window for this policy year, surrender charges may apply.

For IRA policy holders only, beginning in 2004 the IRS requires NYLIAC to report to the IRS that you are required to take a RMD.

Please make the appropriate election under Withdrawal Option A on the enclosed form if you would like NYLIAC to compute your RMD amount. Alternately, you may calculate your own RMD amount by electing Withdrawal Option B.

If you have any questions regarding your RMD, please contact us at 1-800-xxx-xxxx. For tax advice, please contact your professional tax advisor.

Sincerely,

Name

Title

Variable products are offered through properly licensed registered representatives of NYLIFE Securities Inc. (member NASD/SIPC), 51 Madison Avenue, New York, NY 10010.

|[pic] | |

|2004 REQUIRED MINIMUM DISTRIBUTION ELECTION FORM | |

| | | | |

|Date: | |Policy Number: |XX XXX XXX |

| | | | |

|Policyowner: |FIRST NAME LAST NAME | | |

| | | | |

| | | | |

| | |Cash Value as of 12/31/2003 |$X,XXX,XXX,XXX.XX |

|Complete Sections I and II, sign, and date this form and return it in the enclosed envelope. If you have any questions, please contact one of our customer service |

|representatives at our toll-free number. |

|I. WITHDRAWAL OPTIONS |

|(Please select either A or B. Also, indicate what percentages are to be withdrawn from the Investment Divisions below. If you do not complete this section, we |

|will make this withdrawal on a pro-rata basis, based on your current allocation of the cash value at the time of the withdrawal. In addition, if the value of an |

|Investment Division is insufficient to meet the requested RMD, the remainder will be withdrawn from the remaining Investment Divisions on a pro-rata basis. Please |

|refer to the enclosed letter for information on completing this section.) |

|Please withdraw my RMD for this year using the option checked below. |

|1) | |Please withdraw $xxx,xxx, as calculated by NYLIAC, to satisfy my RMD requirement for this year. | | |

| | | |

|2) | |Spousal Beneficiary Option. You are eligible for this option only if your spouse is the sole beneficiary and | | |

| | |he or she is more than 10 years younger than you. |

| | | |

| | |Please determine the RMD based on the following information for my spouse Beneficiary: |

| | | | |

| |Name | | |

| | | | |

| |Date of Birth | |Social Security Number |

| |

B) Please withdraw $ from my policy to satisfy my RMD requirements. This is based upon my own calculation and is for this year only.

Investment Divisions for Options A and B

__________% Common Stock __________% Money Market

__________% Bond __________% Fixed Account

| |

|II. INCOME TAX WITHHOLDING ELECTION - Substitute W-4P |

| |

|IMPORTANT: The Internal Revenue Service (IRS) requires that you complete the following section. See below for important tax information before you make your |

|withholding election. If your taxpayer identification number is not furnished, we are required by Federal Law to withhold 10% of the taxable gain. |

| | |

|Policyowner’s Taxpayer Identification Number: | |

| |

|Are you a citizen of the United States? | |YES | |NO |

| |

|I elect to have the following withholding option applied to this payment and any future payments under this policy |

|(please check only one box): |

| | | | |

| | |I elect to have taxes withheld. | |I elect NOT to have taxes withheld. |

| | | | |

| |If you elect to have federal taxes withheld, state withholding taxes may apply. | | | |

| |Signature | |Date | |

| |

Withdrawals are subject to Federal Tax Withholding unless you choose not to have taxes withheld. Withholding applies only to the taxable portion of your withdrawal. If you choose not to have tax withheld, or you do not have enough tax withheld, you may be subject to a tax penalty under estimated tax rules if your withholding and estimated tax payments are not sufficient. In addition, some states require state taxes to be withheld when federal taxes are withheld. If you live in one of these states, we will withhold state taxes as required by your state. Your signature on this form confirms that you have read this notice and you made a choice for this distribution.

Variable products are offered through properly licensed registered representatives of NYLIFE Securities Inc. (member NASD/SIPC), 51 Madison Avenue, New York, NY 10010.

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