MMC Benefits Handbook
Automatic Enrollment Process
The Plan enrollment process for newly hired employees consists of three options. New hires have the option to:
  • make an active election to participate in the employee contribution portion of the Plan,
  • make an active election to opt out of the employee contribution portion of the Plan, or
  • take no action and be automatically enrolled in the employee contribution portion of the Plan following the 30-day opt out period from date of hire or date of rehire.
Contribution Rate and Investment Direction Election if Automatically Enrolled
The automatic enrollment rate under the Plan is a 6% before-tax contribution for those employees who are automatically enrolled in the employee contribution portion of the Plan on or after August 1, 2016. If you were automatically enrolled from January 1, 2006 through July 31, 2016, you were enrolled with a 3% before-tax contribution rate. Automatic contributions will be invested in one of the BlackRock LifePath Index Funds (the BlackRock LifePath Index Fund that most closely matches your retirement year—based on the Plan's normal retirement age of 65).
Automatic enrollments in the Marsh & McLennan Companies 401(k) Savings & Investment Plan will not be considered part of a valid Supplemental Savings & Investment Plan deferral election for those eligible.
You can elect to change your contribution rate at any time. Changes can be processed online or through the Employee Service Center. The transaction submission deadline for online changes is 1 a.m. Eastern time on the Monday that is at least 11 business days (if you are on the semi-monthly payroll) or 5 business days (if you are on the weekly payroll) before the next pay date. To make changes online, go to Colleague Connect (https://colleagueconnect.mmc.com), click Career & Rewards and select Transamerica under Tools. Alternatively, you may change your contribution rate by calling the Employee Service Center at +1 866 374 2662 no later than 8 p.m. Eastern time on the Friday that is at least 11 business days (if you are on the semi-monthly payroll) or 5 business days (if you are on the weekly payroll) before the next pay date. If you do not meet the applicable deadline (as described above), your change will be effective the first day of the second pay period following your notice. Contact the Employee Service Center if a holiday falls within the processing cycle to confirm the transaction submission deadline.
New Hires and Rehires
If you are newly hired or rehired, you will be automatically enrolled in the Plan after 30 days from your date of hire or date or rehire, respectively.
Special Populations
If you are part of a special population (i.e., employee of an acquired company plan, etc.), you will receive an automatic enrollment date notification within your enrollment letter.
Transfers
If your employment status changes from a third party contractor to a US regular or temporary employee of Marsh & McLennan Companies or if you transfer from a company that does not participate in the Plan to one that does AND your original date of hire is on or after January 1, 2006, you will be automatically enrolled in the Plan.
Contribution Deductions for Those Automatically Enrolled
Automatic enrollment contributions begin with the first or second paycheck following the 30-day opt out period.
Impact on Catch-up Contribution or After-tax Election Option
If you are automatically enrolled in before-tax contributions, you will also be subject to the Plan's procedures relating to the automatic commencement of catch-up contributions (if you are eligible for catch-up contributions) and traditional after-tax contributions.
If you are automatically enrolled and eligible for catch-up contributions, once the before-tax limit is reached catch-up contributions will begin. Once the before-tax (if you are ineligible for catch-up contributions) or catch-up contribution limit (if eligible) is reached, after-tax contributions will begin.
If you are automatically enrolled you can elect to change your before-tax contribution rate to zero, waive catch-up contributions or waive after-tax contributions at any time. See "Changing Contributions When You Reach the IRS Maximum Limits" for more information.
Impact for Those in the Supplemental Savings & Investment Plan
In order to make deferrals in the Supplemental Savings & Investment Plan, you must make both an active Marsh & McLennan Companies 401(k) Savings & Investment Plan and Supplemental Savings & Investment Plan election. Marsh & McLennan Companies 401(k) Savings & Investment Plan automatic enrollment is not considered an active valid enrollment for purposes of a valid Supplemental Savings & Investment Plan enrollment. Therefore, if you are automatically enrolled in the Marsh & McLennan Companies 401(k) Savings & Investment Plan, you may not make deferrals in the Supplemental Savings & Investment Plan for that year. Automatic enrollment under the Marsh & McLennan Companies 401(k) Savings & Investment Plan does not affect your eligibility to receive fixed Company credits under the Supplemental Savings & Investment Plan (if you otherwise satisfy the eligibility requirements for such credits).