MMC Benefits Handbook
The Plan at a Glance
Plan Feature
Highlights
Plan Type
  • The Supplemental Savings & Investment Plan is a non-qualified deferred compensation plan that allows eligible employees to accrue benefits for the future and coordinates with the tax-qualified Marsh & McLennan Companies 401(k) Savings & Investment Plan.
Eligibility
You are eligible to participate with respect to a particular Plan year if:
  • you are classified as a US regular or temporary employee (including US expatriates) of Marsh & McLennan Companies or any subsidiary or affiliate of Marsh & McLennan Companies (other than Marsh & McLennan Agency LLC), including any subsidiaries or successors in interest, paid on a US payroll;
  • your annual base pay exceeds the Compensation Limit; and
  • you are a participant in the Marsh & McLennan Companies 401(k) Savings & Investment Plan.
See "Participating in the Plan" for details.
Enrollment
Enrollment operates on a Plan year basis.
You can enroll in the Plan:
See "How the Plan Works" for details.
Funding
  • The Supplemental Savings & Investment Plan is an unfunded plan. Payments are made from the Company's general assets or from a grantor trust ("rabbi trust"), the assets of which are subject to the claims of the Company's creditors in the event of the Company's bankruptcy or insolvency. Your right to payment under the Plan is the same as the right of an unsecured general creditor of the Company.
Deferrals and Credits
Employee Deferrals and Company Matching Credits
You can defer at a rate of 1% to 30% of eligible base pay you earn after you have reached applicable Compensation or Contribution limits under the Marsh & McLennan Companies 401(k) Savings & Investment Plan.
  • Once you have completed one year of Vesting service, the Company will allocate a Company matching credit each pay period of 50% on the first 6% of your eligible base pay that you defer in a pay period to the Plan. (For rehired employees, transferees and employees of acquired businesses, prior service may count toward the one year of vesting service.)
Fixed Company Credits
  • Once you have completed one year of Vesting service, if you are employed by an eligible participating company, you will receive a fixed Company credit each pay period to the Plan equal to 4% of your eligible base pay for such pay period, whether or not you elect to make employee deferrals to the Plan. (For rehired employees, transferees and employees of acquired businesses, prior service may count toward the one year of vesting service.) These credits are referred to as "fixed Company credits."
For purposes of fixed Company credits:
  • Eligible base pay is limited to amounts over the IRS limit on compensation ($280,000 for 2019) that may be considered under the Marsh & McLennan Companies 401(k) Savings & Investment Plan.
  • Eligible participating companies include all MMC companies except Marsh & McLennan Agency LLC, and Dovetail Insurance Corporation.
Additional Information
Annual discretionary performance-based Company matching credits (paid in the first quarter of the following year) were also contributed for Plan years 2006, 2007 and 2008. Throughout this document "Company Matching Credits" refers collectively to the core Company matching credits and the discretionary performance-based Company matching credits. On and after January 1, 2009, core Company matching credits are referred to as Company matching credits.
On and after January 1, 2017, the Company matching credits and fixed Company credits are collectively referred to as "Company credits."
See "Deferrals and Credits" for details.
Vesting
  • You are always 100% vested in all deferral amounts credited to your account under the Plan.
  • You are fully vested in Company matching and fixed Company amounts credited to your account.
Notionally Investing Deferrals and Credits
  • Please note that your account under the Supplemental Savings & Investment Plan is an unfunded, "notional" arrangement. This means that Marsh & McLennan Companies or your employer do not make actual "deposits" to a traditional trust or financial institution in your name. Your account under the Plan, for accounting and computational purposes, simply tracks your employer's notional contributions made on your behalf and tracks the notional investment results of your account as if your account had actually been invested in the options you select.
  • You can notionally invest your account in any notional fund offered under the Plan. Your deferrals can be allocated to notional investments other than notional shares of Marsh & McLennan Companies stock.
  • You can change the notional investment direction of future deferrals and Company credits.
  • You may not diversify any amounts that are credited to your accounts as notional shares of Marsh & McLennan Companies stock.
  • You may move all or portions of your existing account balance that is not invested in notional shares of Marsh & McLennan Companies stock to any or all of the other notional investment options offered by the Plan.
When Benefits are Paid
You are entitled to payment of your:
  • post-2004 account as soon as administratively practicable but no longer than 90 days* following your death or disability (as defined in the Supplemental Savings & Investment Plan) or your separation from service on account of retirement (as defined in the Supplemental Savings & Investment Plan).
  • pre-2005 account following your termination of employment for any reason (including termination by reason of Retirement) or death.
  • without regard to when you receive a Marsh & McLennan Companies 401(k) Savings & Investment Plan distribution.
See "When Benefits Are Paid" for details.
Contact Information
For more information, contact the:
Supplemental Savings & Investment Plan
Marsh & McLennan Companies Employee Service Center
Phone: +1 866 374 2662
* This standard ("as soon as administratively practicable") will be objectively determined and although it may change over time, at any given time the standard will be uniformly applied to similarly-situated participants without any discretion to change that time period and, in any event, will never be longer than 90 days following your distribution event date.