MMC Benefits Handbook
Impact on Benefits
Impact on Benefits explains how leaving the Company affects your benefits.
Medical Plan
Your coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA (unless you are terminated for gross misconduct) for up to 18 months by paying the full group rate, plus an additional two percent for administrative expenses.
If you are eligible to retire, in lieu of COBRA coverage you may elect retiree medical coverage. Your eligible family members can be covered until the earliest of their ceasing to be eligible or their death. If you (and your eligible family members) are enrolled in active employee medical coverage and eligible to participate in retiree medical coverage, active employee medical coverage for you and your eligible family members ends on the last day of the month in which you terminate employment. If you are eligible to participate in retiree medical coverage, you will be given an opportunity to enroll immediately following your termination of employment or defer your Marsh & McLennan Companies (Company) retiree medical coverage enrollment to sometime in the future. If you defer, no immediate action is required at termination unless you wish to elect COBRA.
If you decide to elect to participate, your retiree medical coverage participation date (Retiree Medical Coverage Participation Date) will be reflected as the 1st of the month following your termination date, or if you defer your election and elect coverage at a later date, the 1st of any month, but no later than the 1st of the month following the attainment of age 65 (retiree medical coverage participation dates always are on the 1st of a month).
If you are not enrolled in active employee medical coverage at the time of your termination and you meet the retiree eligibility requirements, you are eligible to participate in retiree medical coverage. You will be given an opportunity to immediately elect or defer retiree medical coverage following your termination of employment. Since you were not enrolled in the Company's active medical coverage, you will not have the option to elect COBRA medical coverage.
Note: If you do elect COBRA for you and/or your covered spouse, when COBRA has been exhausted you can enroll yourself and/or your spouse in any applicable Company retiree medical plan option within 30 calendar days of the event. Termination of COBRA is considered a HIPAA qualifying event.
Dental Plan
Your coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA (unless you are terminated for gross misconduct) for up to 18 months by paying the full group rate, plus an additional two percent for administrative expenses.
If you are eligible to participate in retiree medical coverage, not only your active employee medical, but also your active dental coverage will be continued through the end of the month in which you terminate.
If you are eligible to retire on or after September 1, 2006 you may elect to continue your coverage through COBRA regardless of whether you enrolled in retiree medical coverage.
Vision Plan
Your coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA (unless you are terminated for gross misconduct) for up to 18 months by paying the full group rate, plus an additional two percent for administrative expenses.
If you are eligible to participate in retiree medical coverage, not only your active employee medical, but also your active vision care plan coverage will be continued through the end of the month in which you terminate.
Health Care Flexible Spending Account and Limited Purpose Health Care Flexible Spending Account
Your contributions end on your termination date. You can be reimbursed for eligible health care expenses that you have incurred up until your termination date (less any reimbursement amounts you have already received) up to your elected annual contribution amount.
You may also be eligible to continue your coverage through COBRA (unless you are terminated for gross misconduct) by paying your monthly contribution rate (on an after-tax basis), plus an additional two percent for administrative expenses. COBRA coverage for your Health Care Flexible Spending Account and Limited Purpose Health Care Flexible Spending Account may continue only until the end of the year in which the qualifying event occurs and may not be continued into the next year.
Dependent Care Flexible Spending Account
Your contributions end on your termination date. You can be reimbursed for eligible dependent care expenses that you have incurred up to your termination date (less any reimbursement amounts you have already received) up to your remaining contributions.
Health Savings Account
Your contributions end on your termination date. You can make contributions to your Health Savings Account on an after-tax basis directly to the Health Savings Account Administrator as long as you meet the tax requirements to contribute to a Health Savings Account.
If I terminate my employment with the Company can I continue making contributions to the Health Savings Account if I am on COBRA?
As long as you elect COBRA coverage for your Marsh & McLennan Companies $1,500 Deductible Plan or $2,850 Deductible Plan coverage and meet the other tax requirements to contribute to the Health Savings Account, you can make contributions to your Health Savings Account on an after-tax basis directly to the Health Savings Account Administrator.
Business Travel Accident Insurance Plan
Your coverage ends on the last day you are actively-at-work if you are a Marsh & McLennan Companies employee or eligible MMA employee.
Voluntary AD&D
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies employee or eligible MMA employee.
You can convert your Voluntary AD&D coverage to an individual plan at standard insurance company rates by applying and making the premium payments to the insurance company within 30 calendar days of the date your coverage ends (unless you retire).
Retired employees are eligible for $10,000 in coverage up to a maximum of $50,000, in multiples of $10,000 in either individual or family coverage. The amount selected cannot exceed that which the retired employee had as an active employee. At age 75, the amount reduces to $10,000, for both the retired employee and covered family members. This reduction in benefit takes into consideration the increased cost in providing coverage at and after age 70. If a retired employee and spouse are both eligible as retired employees, only one may enroll the children in coverage.
Life Insurance Plans
Coverage ends on your termination date. When your coverage ends for Basic Life Insurance and Group Variable Universal Life, you can apply for an individual policy.
You have 31 days from your termination date to apply for and pay the required premium for an individual policy. In no event will the conversion period extend beyond 91 days (for Group Variable Universal Life, the portability period will not extend beyond 90 days) from the date coverage ends.
If you are eligible to retire, are a past retiree, or if you retired from an acquired company, refer to the respective Life Insurance Plan Summary Plan Descriptions for the amount of life insurance to which you are eligible, if any. (Note: if you are a past retiree or if you retired from an acquired company, the letter provided to you when you retired should specify the amount of life insurance to which you are eligible as a retired employee, if any.)
You may continue your Group Variable Universal Life on a group basis instead of converting to an individual policy if permitted in your state of residence under the plan's portability feature. The cost of coverage is higher than employee contributions, but may be lower than a comparable individual policy.
Your payroll contributions end on your termination date.
You can keep your Personal Life Insurance coverage if you leave the Company for any reason, including retirement. When you leave employment, your coverage will continue at your same guaranteed rate. Contact the plan's insurer to make arrangements to pay premiums directly. When employment ends, the Company subsidy of 26% of premium ends. You will be billed by MetLife for the entire premium amount.
Disability
Short Term Disability
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies, Marsh & McLennan Agency LLC – Corporate (MMA-Corporate), Marsh & McLennan Agency LLC – Alaska (MMA-Alaska), or Marsh & McLennan Agency LLC – Northeast (MMA-Northeast) employee.
Basic Long Term Disability
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies, Marsh & McLennan Agency LLC – Corporate (MMA-Corporate), Marsh & McLennan Agency LLC – Alaska (MMA-Alaska), or Marsh & McLennan Agency LLC – Northeast (MMA-Northeast) employee.
Optional Long Term Disability
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies, Marsh & McLennan Agency LLC – Corporate (MMA-Corporate), Marsh & McLennan Agency LLC – Alaska (MMA-Alaska), or Marsh & McLennan Agency LLC – Northeast (MMA-Northeast) employee.
Long Term Disability Bonus Income Plan
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies, Marsh & McLennan Agency LLC – Corporate (MMA-Corporate), Marsh & McLennan Agency LLC – Alaska (MMA-Alaska), or Marsh & McLennan Agency LLC – Northeast (MMA-Northeast) employee.
Individual Disability Insurance Plan
Your coverage ends on the last day you are Actively-At-Work if you are a Marsh & McLennan Companies, Marsh & McLennan Agency LLC – Corporate (MMA-Corporate), Marsh & McLennan Agency LLC – Alaska (MMA-Alaska), or Marsh & McLennan Agency LLC – Northeast (MMA-Northeast) employee. You may continue your Individual Disability Insurance Plan coverage on a direct bill basis. Unum will send you a conversion letter with instructions on how to continue your coverage.
Personal Excess Liability Insurance Plan
Your coverage ends 60 days from date of termination or the policy expiration date, whichever comes first.
If you are eligible to retire or a surviving spouse, you may continue coverage on a direct bill basis by contacting Mercer Health & Benefits Administration within 30 days of your termination date. Contact Mercer Health & Benefits Administration at +1 800 225 2265 for further information.
Marsh & McLennan Companies 401(k) Savings & Investment Plan
Your contributions end on your termination date.
If you are under age 70-1/2 and the vested value of your account balance is over $1,000, you can request a final distribution of your account or you can defer payment until April 1st of the year following the calendar year in which you attain age 70-1/2 or, if later, the April 1st of the calendar year following the calendar year in which you terminated employment.
If the vested value of your account is $1,000 or less, you will be automatically paid out during the calendar quarter process. If you want to roll over the distribution to a Roth IRA, traditional IRA or another tax-qualified employer's plan, a Benefit Distribution Form must be returned within 30 days from the postmark date of the Termination Kit. Otherwise, the account if still under $1,000 will be paid out during the quarterly process and taxes will be withheld. If no form is received within 30 days from the postmark date of the Termination Kit and your account balance exceeds $1,000, your account will not be paid out automatically. You may request a distribution at any time. If you fail to request a distribution and your account falls below the $1,000 threshold during the next calendar quarter process, your account will be automatically distributed.
If you are age 70-1/2 or above, you must take an immediate distribution of your account. If you do not request a final distribution of your account, the vested value of your account will be automatically paid out to you, less the mandatory 20% Federal Income tax withholding.
Marsh & McLennan Agency 401(k) Savings & Investment Plan
Your contributions end on your termination date.
If you are under age 70-1/2 and the vested value of your account balance is over $1,000, you can request a final distribution of your account or you can defer payment until April 1st of the year following the calendar year in which you attain age 70-1/2 or, if later, the April 1st of the calendar year following the calendar year in which you terminated employment.
If the vested value of your account is $1,000 or less, you will be automatically paid out during the calendar quarter process. If you want to roll over the distribution to a Roth IRA, traditional IRA or another tax-qualified employer's plan, a Benefit Distribution Form must be returned within 30 days from the postmark date of the Termination Kit. Otherwise, the account if still under $1,000 will be paid out during the quarterly process and taxes will be withheld. If no form is received within 30 days from the postmark date of the Termination Kit and your account balance exceeds $1,000, your account will not be paid out automatically. You may request a distribution at any time. If you fail to request a distribution and your account falls below the $1,000 threshold during the next calendar quarter process, your account will be automatically distributed.
If you are age 70-1/2 or above, you must take an immediate distribution of your account. If you do not request a final distribution of your account, the vested value of your account will be automatically paid out to you, less the mandatory 20% Federal Income tax withholding.
Supplemental Savings & Investment Plan
Your deferrals end on your termination date.
If you separate from service (voluntarily or involuntarily) and you are not eligible to retire, your post-2004 account balance will be distributed in a single lump-sum payment automatically.
If you terminate employment (voluntarily or involuntarily) and you are not eligible to retire, your pre-2005 account balance will be distributed in a single lump-sum payment automatically.
Refer to the Supplemental Savings & Investment Plan Summary on Connect (https://colleagueconnect.mmc.com) for details on valid distribution elections.
Employee Stock Purchase Plan
Your contributions end on your termination date.
When you leave the Company, your contributions for the calendar quarter in which you leave, plus interest, will be refunded to you, and you will not be able to purchase shares at the end of that quarter.
For shares that you own from prior plan years, if any, you can choose to:
  • keep your stock in your account under the plan with the plan's service provider
  • sell stock
  • transfer your stock to a retail account with the plan's service provider
  • transfer your stock to your own stock agent or broker
For more information, contact the plan's service provider, Morgan Stanley.
US Retirement Program
If you are a vested participant, under age 55, you are eligible for a deferred vested benefit payable as early as age 55.
If you are a vested participant age 55 or over when you terminate employment, you are eligible to commence your benefit immediately.
Transportation Reimbursement Incentive Program (TRIP)
After your employment ends, your elections will automatically be cancelled for future months. If you missed the deadline for canceling your pass—and you terminate employment before the start of the following month—you can either return the pass for that month to the transit authority for a refund (if the transit authority allows) or use the pass. Note, however, that you are responsible for the cost of the pass and you may be liable for taxes on the value of the pass. You may wish to consult with a tax professional for details.
You will not be entitled to reimbursement for any expenses incurred after you leave the Company. Any unused amounts set aside in your account for which you do not properly request reimbursement for qualified expenses within 180 days of your termination date will be forfeited. As a result, if the deadline for changing or canceling your election has not yet passed by the time you realize that you will be leaving the Company, you should change your election to avoid incurring an excess deduction and possibly losing money because of a forfeiture. Refer to the individual benefit plan sections for further details or call the Employee Service Center at +1 866 374 2662.
Long Term Care Insurance Plan
Your payroll contributions end on your termination date.
You may be eligible to continue your Long Term Care Insurance coverage on a direct bill basis with the plan's insurer. You will have the option of continuing your coverage at your current premium rate.
Choice Auto and Home Insurance Program
Upon leaving the Company, you will automatically be converted to a direct bill payment option for your coverage. Upon renewal, you will lose any discounts that are applicable to your status as an active employee per your state's guidelines.
Pet Insurance Plan
Upon leaving the Company, you will automatically be converted to a direct bill payment option for your coverage. Upon renewal, you will lose any discounts that are applicable to your status as an active employee.
Legal Assistance Plan
Coverage ends on your termination date. You can convert your Legal Assistance Plan coverage to an individual plan for a 30 month obligatory period (you cannot reduce or opt out of the 30 month conversion period) after your coverage ends by contacting the Claims Administrator and making the required payment within 31 calendar days of your coverage end date. Any case that is open and pending when coverage ends will be covered to completion.
Identity Protection Benefit Program
Upon leaving the Company, you will automatically be converted to a direct bill payment option for your coverage. If you choose to continue coverage on a group basis, post-employment rates are not higher than employee rates.
Employee Assistance Program
Coverage ends on your termination date. If you are in treatment your coverage will continue for 30 calendar days. If you need to continue treatment, you can continue your coverage through COBRA.
If you are eligible to participate in retiree medical coverage, not only your active employee medical, but also your active EAP coverage will be continued through the end of the month in which you terminate.
You and your covered family members can continue your coverage through COBRA (unless you are terminated for gross misconduct) for up to 18 months by paying the full group rate, plus an additional two percent for administrative expenses.
Best Doctors
Coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA for up to 18 months.
Health Advocate
Coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA for up to 18 months.
Healthyroads
Coverage ends on your termination date. You and your covered family members can continue your coverage through COBRA for up to 18 months.
MSK Direct
Access to MSK Direct for you and your eligible family members ends on your termination date.
Accident Insurance
Coverage ends on your termination date. You can take your coverage with you, if you continue to pay your premiums.
Critical Illness
Coverage ends on your termination date. Under certain circumstances you can take your coverage with you when you leave. You must continue to pay your premiums to keep the coverage in force.
Hospital Indemnity
Coverage ends on your termination date. You can take your coverage with you, if you continue to pay your premiums.
Family Resource Program
Coverage ends on your termination date.