Mellon Merger Creates "New" Benefits Provider

July 10, 2001 ( - Mellon Financial Corporation will now face the competitive battles over providing pension and health benefits with a new warrior: Mellon Employee Benefit Solutions (MEBS).

Mellon announced Tuesday that it was consolidating Dreyfus Retirement Services and Buck Consultants’ Administrative Services Group to provide:

  • investment management and consulting
  • recordkeeping and administration
  • trust and custody
  • actuarial services
  • plan-design support
  • self-directed brokerage
  • Internet access for participants and plan sponsors
  • integrated participant services center
  • compliance testing and consulting support
  • communication programs.

Dreyfus Service Corporation will provide investment services while Dreyfus Investment Services Corporation will handle brokerage issues.

Headquartered in New York, MEBS will maintain client service locations in Uniondale, N.Y.; Everett, Mass., Secaucus, N.J., San Diego, Calif., and Fort Wayne, Ind.

MEBS’ 800 associates currently administer and service nearly 1,500 defined contribution, defined benefit plans, and health and welfare programs.