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Marsh & McLennan Companies 401(k) Savings & Investment Plan
SPD
This section provides a summary of the Marsh & McLennan Companies 401(k) Savings & Investment Plan as of November 1, 2017.
This section, together with the Administrative Information section, forms the Summary Plan Description of the Plan.
A Note on Tax Advice: The tax laws are complicated and often change. This summary is not intended to provide personal tax advice to any employee.
The Marsh & McLennan Companies 401(k) Savings & Investment Plan (Plan) is a convenient way to help achieve your long-term savings and investment goals. The Plan is a profit sharing plan with an employee stock ownership feature and a 401(k) component, designed to encourage saving through a number of investment opportunities, including the opportunity to invest in the MMC Stock Fund (a fund comprised principally of Marsh & McLennan Companies, Inc. common stock (par value of $1.00 per share)).
Under the Plan, you may save and invest for the future by contributing on a before-tax and/or after-tax basis. You can direct your future contributions and your Company contributions (which begin after you complete one year of vesting service) into any of the funds in the Plan's investment lineup.
Plan participation involves investment risk. If the value of Marsh & McLennan Companies stock and other Plan assets decreases or increases, the value of your accounts in the Plan will also decrease or increase. Under this type of Plan, you assume responsibility for the investment choices you make for your account.
This section describes the Plan provisions as of November 1, 2017, and applies if you are employed by Marsh & McLennan Companies on or after November 1, 2017.
As used throughout this document, "employee," "you" and "your" always mean a US employee (regular or temporary) of Marsh & McLennan Companies or any subsidiary or affiliate of Marsh & McLennan Companies (other than Marsh & McLennan Agency LLC or Mercer PeoplePro). Individuals who are leased employees, who are compensated as independent contractors, who are employed in Puerto Rico, or who are employees of Marsh & McLennan Agency LLC (MMA) or Mercer PeoplePro are not eligible to participate.
In this description of the Marsh & McLennan Companies 401(k) Savings & Investment Plan, the term "Company" sometimes refers to Marsh & McLennan Companies and all participating employers.
This Is Part of a Prospectus
This section, together with the Investment Return Fact Sheet and the Administrative Information section, also constitute part of a prospectus covering securities that have been registered under the Securities Act of 1933, as amended. See below for more details.
The Plan was most recently approved by the Internal Revenue Service as tax qualified under Sections 401(a) and 4975(e)(7) of the Internal Revenue Code by means of a favorable determination letter dated September 25, 2013. Accordingly, Marsh & McLennan Companies contributions will be deductible by Marsh & McLennan Companies within the limits set forth in the Internal Revenue Code. This section describes the Plan provisions as of November 1, 2017 which apply if you are employed on or after November 1, 2017. Former employees may be subject to other rules under prior provisions.
The date of this prospectus is March 27, 2017.
Participants may receive, without charge, upon request to the Plan Administrator, any of the documents that constitute part of the prospectus, as well as a copy of the annual report from Marsh & McLennan Companies, Inc., copies of other reports, proxy statements and other communications distributed to Marsh & McLennan shareholders, and the annual report for the Plan. Copies of the documents described may be obtained from the Plan Administrator at the following address:
Marsh & McLennan Companies, Inc.
Marsh & McLennan Companies 401(k) Savings & Investment Plan
c/o Global Benefits Department – 3rd Floor
Waterfront Corporate Center
121 River Street
Hoboken, NJ 07030
Telephone +1 201 284 4000
Marsh & McLennan Companies annual report can be viewed at www.mmc.com/annualreport.html.
All reports and other documents subsequently filed by Marsh & McLennan Companies or the Plan pursuant to Section 13(a), 13(c), 14, 15(d) of the Securities Exchange Act of 1934, as amended, prior to the filing of a post-effective amendment which indicates that all securities offered have been sold or which deregisters all securities then remaining unsold, also will be deemed to be incorporated into this Summary Plan Description and Prospectus from the date of the filing of such reports and documents.
A Note about ERISA
The Employee Retirement Income Security Act of 1974 (ERISA) is a Federal law that governs many employer-sponsored plans including this one. Your ERISA rights in connection with this Plan are detailed in the Administrative Information section that, together with this section, constitute the Summary Plan Description for this Plan. However, the Plan rules are very detailed and this is only a summary.
In the case of any conflict between this description of the Marsh & McLennan Companies 401(k) Savings & Investment Plan and the Plan, the Plan rules govern. See also the Administrative Information section.