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We are excited to announce an enhancement to our benefits that reflects our commitment to working parents. Starting January 1, 2024, New York Life will be doubling the duration of our Paid New Parent benefit, increasing it from four weeks to eight weeks. This will apply for all parents, where the birth, surrogacy, adoption, or foster care placement, occurred on or after 1/1/2024.

We understand the importance of Parental Leave in fostering strong family bonds and supporting new parents — whether through birth, surrogacy, adoption, or foster care placement. This extended benefit is an addition to the existing six weeks of paid leave offered to birthing parents through our short-term disability program plan, typically bringing their total to up to 14 weeks of paid time off.* This enhancement continues New York Life's commitment to diversity, equity, and inclusion.

In addition to our expansion of the Paid New Parent benefit, New York Life offers a variety of family planning and parenting tools, including our: 

• Fertility support and treatments under our medical options, through Ovia Health and Progyny
• Adoption assistance program, which can help with the financial costs of adoption
• Free 24/7 breastfeeding support through our LifeCare Mothers@Work program
• Subsidized back-up childcare through our LifeCare Backup Care Connection program  
• Virtual tutoring support at no cost through our LifeCare Homework Connection program
• Dependent Care Flexible Spending Account, where employees can allot pre-tax dollars for eligible dependent expenses 
• Employee Assistance Program, which provides free short-term counseling to help you adjust to the addition of a new family member

Our support for family planning has not gone unnoticed. New York Life has been honored with several prestigious awards that recognize our commitment to working parents and our inclusive benefits, including Seramount’s 2023 Working Parents of the Year and 2022 Best Companies for Dads awards, and Forbes’ 2023 Best Employers for Women award.

These accolades are a testament to New York Life's continuous efforts to create a workplace culture that goes beyond professional accomplishments, recognizing the significance of personal milestones and the journey of parenthood.

We are excited to provide this new benefit and look forward to seeing the positive impact it will have on the lives of our employees. 

*The duration of payments under the short-term disability program may vary based on medical circumstance.

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