MMC Benefits Handbook
Maximum Number of Loans
The number of loans that may be outstanding from the Plan at any one time is 2 loans.
A loan deemed distributed (for example, a loan that is in default beyond the 90 day cure period) will be treated as an outstanding loan when determining the number of loans you have outstanding and the amount available for a new loan.
Transfers
If you transfer from Marsh & McLennan Companies, the number of loans outstanding under the Marsh & McLennan Companies 401(k) Savings & Investment Plan will be considered outstanding under this Plan.
Participants from Acquired Companies
You are not eligible to apply for a loan from the Plan if you have an outstanding loan under the acquired company's defined contribution plan that has not been terminated and such loan has not been transferred to the Plan.