The Bank of New York Mellon Corp. has selected a benefit services administrator for its defined contribution retirement plan.
The administrator, ING Institutional Plan Services, a unit of ING Groep N.V., Amsterdam, will combine two 401(k) plans that had served employees of Mellon Financial Corp., Pittsburgh, and Bank of New York, New York, when the two companies merged in July 2007.
ING also will run an employee stock- ownership program.
The combined plans have about $3 billion in assets and 52,000 participants.
ING will provide recordkeeping, communications and education services for the defined contribution plans as well as other administrative services, ING says.