MFS Investors Trust Series

SUPPLEMENT TO PROSPECTUS The date of this supplement is March 14, 2012.

MFS? Investors Trust Series

Effective April 1, 2012, the sub-section entitled "Portfolio Manager(s)" beneath the main heading "Summary of Key Information" is restated in its entirety as follows:

Portfolio Manager(s)

Portfolio Manager T. Kevin Beatty Ted Maloney

Since 2004 April 2012

Title Investment Officer of MFS Investment Officer of MFS

Effective April 1, 2012, the sub-section entitled "Portfolio Manager(s)" beneath the main heading "Management of the Fund" is restated in its entirety as follows:

Portfolio Manager(s)

Information regarding the portfolio manager(s) of the fund is set forth below. Further information regarding the portfolio manager(s), including other accounts managed, compensation, ownership of fund shares, and possible conflicts of interest, is available in the fund's SAI.

Portfolio Manager Primary Role

T. Kevin Beatty

Portfolio Manager

Ted Maloney

Portfolio Manager

Five Year History

Employed in the investment area of MFS since 2002

Employed in the investment area of MFS since 2005

212887

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VGI-PM-SUP-031412

14135L (03/12)

Supplement dated January 6, 2012 To the Prospectuses dated May 1, 2011, as amended, for

New York Life Access Variable Annuity New York Life Premium Plus Variable Annuity New York Life Premium Plus II Variable Annuity New York Life Elite Variable Annuity New York Life Essentials Variable Annuity New York Life Flexible Premium Variable Annuity

New York Life Variable Annuity New York Life Premium Plus Elite Variable Annuity New York Life Premier Variable Annuity New York Life Premier Plus Variable Annuity New York Life Complete Access Variable Annuity New York Life Flexible Premium Variable Annuity II

To the Prospectuses dated May 1, 2009, as amended, for

New York Life Select Variable Annuity

New York Life Longevity Benefit Variable Annuity

To the Prospectuses dated May 1, 2008, as amended, for

New York Life (formerly MainStay) Access Variable Annuity New York Life (formerly MainStay) Premium Plus Variable Annuity New York Life (formerly MainStay) Premium Plus II Variable Annuity

New York Life (formerly MainStay) Plus Variable Annuity New York Life (formerly MainStay) Plus II Variable Annuity New York Life (formerly MainStay) Select Variable Annuity

Investing in

NYLIAC Variable Annuity Separate Account-I NYLIAC Variable Annuity Separate Account-II

NYLIAC Variable Annuity Separate Account-III NYLIAC Variable Annuity Separate Account-IV

This supplement amends the prospectuses (the "Prospectuses") for the New York Life variable annuity policies listed above that are issued by New York Life Insurance and Annuity Corporation ("NYLIAC"). This supplement describes changes to the investment options available under such policies. You should read this information carefully and retain this supplement for future reference together with the Prospectuses. This supplement is not valid unless it is read in conjunction with the Prospectuses. All capitalized terms used but not defined herein have the same meaning as those included in the Prospectuses.

NYLIAC has filed an application for an order permitting each of NYLIAC's above referenced separate accounts to substitute shares of the Funds in Column A ("Existing Funds") with shares of the Funds in Column B ("Replacement Funds") below. Please refer to the appropriate table for your policy to determine how the substitutions will affect you.

I. For owners of New York Life Access Variable Annuity, New York Life Premium Plus Variable Annuity, New York Life Premium Plus II Variable Annuity, New York Life Elite Variable Annuity, New York Life Essentials Variable Annuity, New York Life Flexible Premium Variable Annuity, New York Life Variable Annuity and New York Life Premium Plus Elite Variable Annuity policies, the substitutions are as follows:

Column A - Existing Funds

Column B - Replacement Funds

Van Eck VIP Global Hard Assets Fund Janus Aspen Balanced Portfolio ? Institutional Shares Janus Aspen Balanced Portfolio ? Service Shares MFS? Utilities Series ? Service Class T. Rowe Price Equity Income Portfolio ? I T. Rowe Price Equity Income Portfolio ? II PIMCO Real Return Portfolio ? Advisor Class Universal Institution Funds, Inc. ("UIF") Emerging Markets Equity Portfolio ? Class I UIF Emerging Markets Equity Portfolio ? Class II

Alger Small Cap Growth Portfolio ? Class I-2 Shares Alger Small Cap Growth Portfolio ? Class S Shares Royce Small-Cap Portfolio ? Investment Class Calvert VP SRI Balanced Portfolio

MainStay VP Van Eck Global Hard Assets Portfolio ? Initial Class MainStay VP Janus Balanced Portfolio ? Initial Class1 MainStay VP Janus Balanced Portfolio ? Service Class MainStay VP MFS Utilities Portfolio ? Service Class MainStay VP T. Rowe Price Equity Income Portfolio ? Initial Class MainStay VP T. Rowe Price Equity Income Portfolio ? Service Class MainStay VP PIMCO Real Return Portfolio ? Service Class MainStay VP DFA /DuPont Capital Emerging Markets Equity Portfolio ? Initial Class MainStay VP DFA /DuPont Capital Emerging Markets Equity Portfolio ? Service Class MainStay VP Eagle Small Cap Growth Portfolio ? Initial Class1 MainStay VP Eagle Small Cap Growth Portfolio ? Service Class MainStay VP Eagle Small Cap Growth Portfolio ? Initial Class1 MainStay VP Janus Balanced Portfolio ? Initial Class1

1 For the New York Life variable annuity policies noted above, following the Effective Date (as defined below), the Initial Class of these Replacement Funds will be available only to those policyowners who had a portion of their Accumulation Value allocated to the corresponding Existing Fund on the Effective Date. Policyowners who transfer their entire allocation out of these Replacement Funds after the Effective Date will not be permitted to transfer back in.

II. For owners of New York Life Premier Variable Annuity, New York Life Premier Plus Variable Annuity, New York Life Complete Access Variable Annuity and New York Life Flexible Premium Variable Annuity II policies, the substitutions are as follows:

Column A - Existing Funds

Column B - Replacement Funds

Van Eck VIP Global Hard Assets Fund Janus Aspen Balanced Portfolio ? Service Shares MFS? Utilities Series ? Service Class T. Rowe Price Equity Income Portfolio ? II PIMCO Real Return Portfolio ? Advisor Class Universal Institution Funds, Inc. Emerging Markets Equity Portfolio ? Class II Royce Small-Cap Portfolio ? Investment Class Calvert VP SRI Balanced Portfolio

MainStay VP Van Eck Global Hard Assets Portfolio ? Initial Class MainStay VP Janus Balanced Portfolio ? Service Class MainStay VP MFS Utilities Portfolio ? Service Class MainStay VP T. Rowe Price Equity Income Portfolio ? Service Class MainStay VP PIMCO Real Return Portfolio ? Service Class MainStay VP DFA /DuPont Capital Emerging Markets Equity Portfolio ? Service Class MainStay VP Eagle Small Cap Growth Portfolio ? Initial Class1,2 MainStay VP Janus Balanced Portfolio ? Initial Class2

1 Assets from the Alger Small Cap Portfolio will be moved into the MainStay VP Eagle Small Cap Growth Portfolio on the Effective Date.

2 For the New York Life variable annuity policies noted above, following the Effective Date, the Initial Class of these Replacement Funds will be available only to those policyowners who had a portion of their Accumulation Value allocated to the corresponding Existing Fund on the Effective Date. Policyowners who transfer their entire allocation out of these Replacement Funds after the Effective Date will not be permitted to transfer back in.

III. For owners of New York Life Select Variable Annuity, New York Life (formerly MainStay) Access Variable Annuity, New York Life (formerly MainStay) Premium Plus Variable Annuity, New York Life (formerly MainStay) Premium Plus II Variable Annuity, New York Life Longevity Benefit Variable Annuity, New York Life (formerly MainStay) Plus Variable Annuity, New York Life (formerly MainStay) Plus II Variable Annuity and New York Life (formerly MainStay) Select Variable Annuity policies, the substitutions are as follows:

Column A - Existing Funds

Column B - Replacement Funds

Van Eck VIP Global Hard Assets Fund Janus Aspen Balanced Portfolio ? Institutional Shares Janus Aspen Balanced Portfolio ? Service Shares

MainStay VP Van Eck Global Hard Assets Portfolio ? Initial Class MainStay VP Janus Balanced Portfolio ? Initial Class1 MainStay VP Janus Balanced Portfolio ? Service Class

MFS? Utilities Series ? Initial Class MFS? Utilities Series ? Service Class

MainStay VP MFS Utilities Portfolio ? Initial Class MainStay VP MFS Utilities Portfolio ? Service Class

T. Rowe Price Equity Income Portfolio ? I

MainStay VP T. Rowe Price Equity Income Portfolio ? Initial Class

T. Rowe Price Equity Income Portfolio ? II

MainStay VP T. Rowe Price Equity Income Portfolio ? Service Class

Universal Institution Funds, Inc. ("UIF") Emerging Markets Equity Portfolio ? Class I

MainStay VP DFA /DuPont Capital Emerging Markets Equity Portfolio ? Initial Class

UIF Emerging Markets Equity Portfolio ? Class II

MainStay VP DFA /DuPont Capital Emerging Markets Equity Portfolio ? Service Class

Alger Small Cap Growth Portfolio ? Class I-2 Shares

MainStay VP Eagle Small Cap Growth Portfolio ? Initial Class1

Alger Small Cap Growth Portfolio ? Class S Shares

MainStay VP Eagle Small Cap Growth Portfolio ? Service Class

Royce Small-Cap Portfolio ? Investment Class

MainStay VP Eagle Small Cap Growth Portfolio ? Initial Class1

Calvert VP SRI Balanced Portfolio

MainStay VP Janus Balanced Portfolio ? Initial Class1

1 For the New York Life variable annuity policies noted above, following the Effective Date, the Initial Class of these Replacement Funds will be

available only to those policyowners who had a portion of their Accumulation Value allocated to the corresponding Existing Fund on the

Effective Date. Policyowners who transfer their entire allocation out of these Replacement Funds after the Effective Date will not be permitted

to transfer back in.

NYLIAC anticipates that the SEC will issue the order approving the foregoing substitutions in early February 2012. The effective date established for the substitutions is expected to be on or about February 17, 2012 (the "Effective Date").

Prior to the Effective Date. From the current date to the Effective Date, if you have allocations in the Existing Funds, you may transfer such allocations to any other available Allocation Alternative without any charge or limitation (except potentially harmful transfers (see "Limits on Transfers" in the Prospectus)) and without the transfer counting toward the number of free transfers that otherwise may be made in a given Policy Year. Such transfers will be based on the Accumulation Unit values of the Investment Divisions as of the close of the Business Day that we receive the transfer request. All other transfers are subject to limitations, and may be subject to charges, as described in the Prospectus for your policy. Please see the Prospectus for your policy for information on how to complete transfers from the Existing Funds to other Investment Divisions that we currently offer. Also note that not all share classes for the Existing Funds and corresponding Replacement Funds are offered through your policy.

Until the Effective Date, we will continue to process automatic transactions such as Dollar Cost Averaging and Automatic Asset Reallocations involving the Existing Funds unless you provide us with alternate allocation instructions. Also note that the Existing Funds will not accept new premium payment allocations or transfers as of the Effective Date. We have included a prospectus for the appropriate Replacement Funds along with this supplement. Each Replacement Fund will be available as an investment option after the Effective Date, even if the Existing Fund it replaced was closed to new investments.

On the Effective Date. Any of your allocations that remain in the Existing Funds will be redeemed. Those redemptions will then be used to purchase Accumulation Units in the corresponding Replacement Funds. All policyowners affected by the substitutions will receive a written confirmation of the transaction. The redemption and subsequent repurchase transactions required to effectuate the substitutions will not be treated as transfers that count toward the number of free transfers that may otherwise be made in a given Policy Year.

All expenses incurred in connection with the substitutions will be paid by either NYLIAC or an affiliate. You will not incur any fees or charges or any tax liability because of the substitutions and your Accumulation Value immediately prior to the Effective Date will be equal to your Accumulation Value immediately after the Effective Date. There will also be no change to your policy's death benefit as a result of the substitutions.

After the Effective Date. Immediately following the Effective Date, the Existing Funds will no longer be available as investment options under the policies. In addition, for the thirty (30) days following the Effective Date, you may transfer all or a portion of your Accumulation Value out of a Replacement Fund to another Allocation Alternative without any charge or limitation (except potentially harmful transfers (see "Limits on Transfers" in the Prospectus)) and without the transfer counting toward the number of free transfers that otherwise may be made in a given Policy Year. Such transfers will be based on the Accumulation Unit values as of the close of the Business Day that we receive the transfer request. All other transfers are subject to limitations, and may be subject to charges, as described in the Prospectus for your policy.

We will also continue to process automatic transactions after the Effective Date, except that allocations previously processed to or from the Existing Funds will be processed to or from the corresponding Replacement Funds.

A complete list of the investment options that are available under your policy, other than the Replacement Funds, is set forth in the Prospectus for your policy. You may obtain a copy of the Prospectus for your policy by calling (800) 598-2019. Information regarding the Replacement Funds, including the investment objectives, policies, risks and fees and expenses, is contained in the Replacement Funds' prospectuses included with this supplement.

_________________________ New York Life Insurance and Annuity Corporation

(A Delaware Corporation) 51 Madison Avenue

New York, New York 10010

13941B (01/12) 14134B (01/12) 14136B (01/12) 14137B (01/12) 14138B (01/12) 14139B (01/12) 14140B (01/12) 14145B (01/12) 14146B (01/12) 14408B (01/12) 14409B (01/12) 14410B (01/12)

14111B (01/12) A-PRS508 PII-PRS508 PPII-PRS508 P-PRS508 S-PRS508

031

Prospectus for MainStay VP Funds Trust

MainStay VP DFA / DuPont Capital Emerging Markets Equity Portfolio MainStay VP Eagle Small Cap Growth Portfolio MainStay VP Van Eck Global Hard Assets Portfolio MainStay VP Janus Balanced Portfolio MainStay VP MFS? Utilities Portfolio MainStay VP T. Rowe Price Equity Income Portfolio

January 13, 2012

Neither the Securities and Exchange Commission nor any state securities commission has approved or disapproved of these securities or passed upon the accuracy or adequacy of this prospectus. Any representation to the contrary is a criminal offense.

Table of Contents

MainStay VP Funds Trust

MainStay VP DFA / DuPont Capital Emerging Markets Equity Portfolio 4

MainStay VP Eagle Small Cap Growth Portfolio

7

MainStay VP Van Eck Global Hard Assets Portfolio

10

MainStay VP Janus Balanced Portfolio

13

MainStay VP MFS? Utilities Portfolio

16

MainStay VP T. Rowe Price Equity Income Portfolio

19

More About Investment Strategies and Risks

22

The Fund and its Management

32

Purchase and Redemption of Shares

37

Taxes, Dividends and Distributions

39

Financial Highlights

40

MainStay VP DFA / DuPont Capital Emerging Markets Equity Portfolio

Investment Objective The Portfolio seeks long-term capital appreciation.

Fees and Expenses of the Portfolio

The table below describes the fees and expenses that you may pay if you buy and hold shares of the Portfolio. The table and the example do not include any separate account or policy fees or sales charges imposed under the variable annuity policies and variable universal life insurance policies for which the Portfolio is an investment option. If they were included, your costs would be higher. Investors should consult the applicable variable annuity policy or variable universal life insurance policy prospectus for more information.

Annual Portfolio Operating Expenses (fees paid directly from your investment)

Management Fee Distribution and Service (12b-1) Fees Other Expenses1 Total Annual Portfolio Operating Expenses 1. "Other Expenses" are based on estimated amounts.

Initial Class

Service Class

1.20% None 0.17% 1.37%

1.20% 0.25% 0.17% 1.62%

Example

The Example is intended to help you compare the cost of investing in the Portfolio with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Portfolio for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Portfolio's operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be:

Initial Class Service Class

1 Year $ 139 $ 165

3 Years $ 434 $ 511

5 Years $ 750 $ 881

10 Years $ 1,646 $ 1,922

Portfolio Turnover

The Portfolio pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs. These costs, which are not reflected in annual Portfolio operating expenses or in the Example, affect the Portfolio's performance. Because the Portfolio has been in operation for less than one full calendar year, the Portfolio's portfolio turnover rate for the most recent fiscal year is not available.

Principal Investment Strategies

The Portfolio, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity and equity-related securities, including preferred stock, of companies located in or associated with emerging market countries.

The Portfolio utilizes two Subadvisors, Dimensional Fund Advisors LP ("DFA") and DuPont Capital Management Corporation ("DuPont Capital"), with investment processes and styles that New York Life Investment Management LLC, the Portfolio's Manager, believes are complementary. Each Subadvisor is responsible for managing a portion of the Portfolio's assets, as designated by the Manager from time to time.

DFA Investment Process: DFA believes that equity investing should involve a long-term view and a systematic focus on sources of expected returns, not on stock picking or market timing. In constructing an investment portfolio, DFA identifies a broadly diversified universe of eligible securities with precisely-defined risk and return characteristics. It then places priority on efficiently managing portfolio turnover and keeping trading costs low. DFA does not intend to purchase or sell securities for the investment portfolio based on prospects for the economy, the securities markets or the individual issuers whose shares are eligible for purchase.

DFA may use derivatives such as forward currency exchange contracts to facilitate the settlement of equity trades or to transfer balances from one currency to another currency, including to repatriate currency to U.S. dollars. DFA may also use futures contracts and options on futures contracts, to gain market exposure on the Portfolio's uninvested cash pending investment in securities or to maintain liquidity to pay redemptions.

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