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Mellon Puts Buck In New Benefits Unit

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NU Online News Service, July 10, 11:53 a.m. – Mellon Financial Corp., Pittsburgh, is combining two subsidiaries to form a new employee benefits unit, Mellon Employee Benefit Solutions.

The new Mellon benefits unit will help employers set up and run health and welfare plans, traditional pension plans and defined contribution retirement plans.

The unit will have a staff of 800 and main offices in New York. It will start with regional offices in Uniondale, N.Y.; Everett, Mass.; Secaucus, N.J.; San Diego; and Fort Wayne, Ind.

Mellon is creating the new unit by merging Dreyfus Retirement Services with Buck Consultants Inc., New York.

Dreyfus Retirement is part of Dreyfus Corp., New York, a large mutual fund company that Mellon acquired in 1994.

Buck is a well-known benefits consulting firm that Mellon acquired in 1997.