In the McKean model the BBGKY hierarchy is equivalent to a simple hierarchy of coupled equations for the p-particle correlation functions. Approximate solutions are obtained by truncating the hierarchy. The convergence of the truncation method is studied by comparison with the exact solution for the model, which can be given in closed form. In the long-time limit the exact solution is linearized around the equilibrium value, showing the decay of the correlations. It turns out that p-particle correlations decay p times faster than the nonequilibrium one-particle distribution.