MMC Benefits Handbook
Company Matching Contributions
The Company makes matching contributions on before-tax, Roth 401(k), traditional after-tax, and catch-up contributions if you have at least one year of vesting service. For this purpose, a "year of vesting service" is a 12-month period of service beginning on the first of the month in which you began working at MMA and the 12-month period beginning on each anniversary of that date. This 12-month period is called your employment year. Generally, two or more periods of service together may add up to 12 months. Also, if you leave employment and are rehired as an employee within 12 months, you may receive credit for your period of absence.
Vesting service generally includes your time of employment with the Company. Vesting service may also include:
- service with non-participating companies in the Marsh & McLennan Companies' or MMA's controlled group of companies (e.g., a foreign subsidiary).
- credit for service if you were initially hired by MMA as a leased employee and you subsequently become an employee.
- service with a predecessor employer if that employer's plan is merged into this Plan and you participated in that plan.
- service performed for your employer before acquisition by MMA as determined by Marsh & McLennan Companies in accordance with the Plan document.
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 eligible base pay that you contribute to the Plan in a pay period.
You can maximize the amount of Company matching contributions received by contributing at least 6% of your eligible base pay to your account.
The Company in its sole discretion may authorize additional contributions in any year if necessary to pass IRS tests. These contributions are sometimes called qualified nonelective contributions ("QNECs") and qualified matching contributions ("QMACs"), but they are also referred to in this description as "Special Company Contributions". You will be fully vested in any Special Company Contributions that are allocated to your account and you may invest them in any of the available investment options. However, withdrawal of Special Company Contributions is restricted, as required by law.