Benefits Handbook

The Plan operates each year from the first business day in October through the last business day in September. Each plan year, you are offered a new opportunity to participate.

When you enroll in the Plan, you elect to contribute—via payroll deductions and on an after-tax basis—from 1% to 15% of your eligible base pay throughout the plan year. The Internal Revenue Code does not permit contributions to an employee stock purchase plan to be made on a before-tax basis.

During the period between purchases of Marsh & McLennan Companies, Inc. shares, your contributions will earn interest at a 2% annual rate, compounded semi-monthly, if you are a regular employee, which will be applied to the funds available for purchasing Marsh & McLennan Companies, Inc. shares. If you are classified as a temporary employee, interest is compounded weekly, as long as you receive eligible pay.

Your calendar quarter-end balance is used to purchase shares of Marsh & McLennan Companies, Inc. common stock each quarter at a price that is 95% of the average market price of the stock on the day the stock is purchased. The purchase date is the last business day of the calendar quarter (except the purchase for the quarter ending December 31 will be made on the first business day of January). On the purchase date, your shares of Marsh & McLennan Companies, Inc. common stock purchased with your quarter-end account balance are placed in an account with Fidelity Investments. You own these shares of Marsh & McLennan Companies, Inc. common stock outright and can decide to sell them, hold them in your Fidelity Investments stock plan account or transfer them to another account. Generally, shares deposited on the purchase date are available on the second business day following the purchase date.