Frederick Sievert, president of New York Life Insurance Company, plans to retire from the company in June.

Sievert, 59, says he will fullfil a long-held dream this fall, by entering the master’s degree program at Yale Divinity School.

Sievert began working for New York Life as a senior vice president in 1992. He became a vice chairman in 1997, and he became president in 2002. He has been active in leading New York Life operations outside the United States as well as domestically.

Sievert took over the title of president from Sy Sternberg, who assumed the title of president in 1995 and the title of chairman in 1997. Sternberg continues to be the chairman of New York Life.

Sievert has a bachelor’s degree from Amherst College and a master’s degree from Wayne State University. He was a secondary school teacher for 7 years before entering the insurance business.