MMC Benefits Handbook
Fixed Company Credits
Eligibility for 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.