MMC Benefits Handbook
The Plan at a Glance
Plan Feature
Highlights
Plan Type
  • The MMA 401(k) Savings & Investment Plan is a tax-qualified profit sharing plan with 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)).
Eligibility
  • You are eligible to participate and make employee contributions as soon as you begin employment with MMA* or any subsidiary or affiliate of MMA that adopts the Plan, are paid on a US payroll and are at least 18 years of age. You are not eligible to participate in the Plan if you are an employee of a non-participating company who is performing services for a US company, whose legal employer remains a non-participating company.
  • You are eligible for Company matching contributions if you elect to contribute and have completed one year of vesting service.
  • See "Participating in the Plan" for details.
Enrollment
  • You can enroll or opt out of the Plan:
    • as soon as you are eligible, or as of the first day of any future pay period, as long as you remain eligible, or
    • after 30 days of employment, if you do not opt out of the Plan you will automatically be enrolled in the Plan.
  • See "How the Plan Works" for details.
Your Contributions
As soon as you enroll in the Plan, you can start contributing to your account. You may contribute:
  • 1% to 75% of your eligible base pay before deductions as before-tax contributions to the Plan.
  • 1% to 75% of your eligible base pay before deductions as Roth 401(k) contributions to the Plan.
  • 1% to 15% of your eligible base pay before deductions as traditional after-tax contributions to the Plan.
  • The total of your Roth 401(k), before-tax, and traditional after-tax contributions may not exceed 75% of your eligible base pay.
  • Rollover contributions from your previous employer's tax-qualified plan, section 403(b) plan or governmental section 457(b) plan (including any Roth contributions) or from a Conduit Individual Retirement Account.
  • Catch-up contributions** and Roth catch-up contributions** if you will be age 50 or older by the end of the calendar year (subject to the IRS annual combined catch-up and Roth catch-up contribution limit of $6,000 in 2019).
You may also make in-plan Roth conversions from your after-tax contribution accounts under the Plan.
Your before-tax and after-tax contributions are deducted from your paycheck each pay period and change automatically when your eligible base pay changes.
All contributions are subject to government-imposed limits. Before-tax and Roth 401(k) contributions to a prior unrelated employer's plan made in the same year you are hired by MMA also count toward your individual IRS dollar limit for the year but are not taken into account in the MMA 401(k) Savings & Investment Plan.
Company Matching Contributions
After you complete one year of vesting service:
  • the Company will contribute a Company matching contribution each pay period of 50% on the first 6% of your eligible base pay that you contribute in a pay period to the Plan.
All contributions are subject to government-imposed limits. Before-tax and Roth 401(k) contributions made to a prior unrelated employer's plan in the same year you are hired by MMA or made to the Marsh & McLennan Companies 401(k) Savings & Investment Plan in the same year you transfer from Marsh & McLennan Companies to MMA also count toward your individual IRS dollar limit but are not taken into account in the MMA 401(k) Savings & Investment Plan.
Vesting
  • You are always fully vested in the value of your own contributions.
  • Your vested percentage of your Company matching contributions (as well any MMC fixed company contributions transferred from the Marsh & McLennan Companies 401(k) Savings & Investment Plan) depends on your years of vested service.
  • See "Vesting" for more details.
Investing Contributions
  • You can invest your account in any fund offered under the Plan.
  • You can change the investment direction of future before tax and after-tax contributions and Company matching contributions.
  • You may transfer/reallocate all or portions of your existing account balance in shares, percentages or dollars to any of the funds offered by the Plan.
  • See "Investing Your Account Balance" for more details.
When Benefits are Paid
  • You can withdraw money from your vested account while you are working by taking one of the seven types of in-service withdrawals allowed by the Plan as well as a financial hardship withdrawal.
  • When you leave the Company:
    • you are entitled to your vested account balance
    • your account must be distributed if the vested account value is $1,000 or less, otherwise
    • if your vested account value is more than $1,000, your account can remain in the Plan until the April 1st of the year following the calendar year in which you attain age 70-1/2 when payments must begin.
  • See "When a Benefit Is Paid" for details.
Contact Information
For more information, contact the:
MMA 401(k) Savings & Investment Plan
Marsh & McLennan Companies Employee Service Center
Phone: +1 866 374 2662
* Reference in this document to "Marsh & McLennan Companies'' means Marsh & McLennan Companies, Inc. and its subsidiaries and affiliates other than Marsh & McLennan Agency LLC. and its subsidiaries and affiliates. Reference to "MMA" means Marsh & McLennan Agency LLC. and its subsidiaries and affiliates. Reference to "Company" means MMA.
** Please note that in this document references are made to catch-up and Roth catch-up contributions. Catch-up contributions are deducted from your pay on a before-tax basis. Roth catch-up contributions are deducted from your pay on an after-tax basis.