Benefits Handbook

This sub-section describes the survivor benefit that will pay to an eligible opposite-sex Spouse if you die before a Grandfathered BEP Benefit commences.

Generally a BEP benefit is grandfathered if it was accrued and vested on December 31, 2004. At that time, the survivor benefit provided under the BEP was based on the survivor benefit provided under the tax-qualified Retirement Plan which was subject to certain federal laws which restricted the definition of a Spouse to an opposite-sex spouse. Therefore, the survivor benefit with respect to the BEP benefit that was accrued and vested as of December 31, 2004 will only be a Grandfathered Survivor Benefit if it is payable to an eligible opposite-sex Spouse.

The Company amended the BEP effective January 1, 2009 to provide for a survivor benefit for an eligible same-sex Spouse or Domestic Partner. However, because this form of survivor benefit was not available as a form of payment under the BEP on October 3, 2004 it cannot be considered a Grandfathered Survivor Benefit and must be subject to the provisions of IRC 409A. Therefore, when a survivor benefit, is payable to an eligible same-sex Spouse or Domestic Partner, it is subject to Section 409A. See "Death Before 409A BEP Benefit Commences" for details.

For a description of how the Grandfathered BEP Benefit is determined see "Determining the Grandfathered BEP Benefit."

In the event of your death before your Grandfathered BEP Benefit commences, a Grandfathered Survivor Benefit will be payable under the BEP if you have a Grandfathered BEP Benefit at the time of your death and you have a surviving opposite-sex Spouse to whom you have been married for at least 12 consecutive months at the time of your death.

If you were married to an opposite-sex Spouse for fewer than 12 consecutive months at the time of your death, your surviving opposite-sex spouse will not be eligible for a Grandfathered Survivor Benefit. However, if your opposite-sex Spouse can qualify as your Domestic Partner as defined by the BEP, your surviving opposite-sex Spouse might be eligible for a 409A Survivor Benefit. See "Death Before 409A BEP Benefit Commences" and "Criteria for Establishing a Domestic Partnership" for details.

If you do not have a Grandfathered BEP benefit or there is no eligible surviving opposite-sex Spouse, no Grandfathered BEP Benefit is payable.

This sub-section describes the Grandfathered Survivor Benefit that will be paid to your eligible surviving opposite-sex Spouse if you die while actively employed.

If you accrued or became vested in a BEP Benefit on or after January 1, 2005, or you were married to an eligible same-sex Spouse or had an eligible Domestic Partner at the time of your death, your Eligible Survivor might be eligible for a 409A BEP Survivor Benefit. See "Death Before 409A BEP Benefit Commences" for details.

The BEP does not pay a Grandfathered Survivor Benefit upon your death if you do not have a Grandfathered BEP benefit or you do not have an eligible surviving opposite-sex Spouse.

If you die while actively employed before attaining age 50, you have a Grandfathered BEP Benefit at the time of your death, your eligible surviving opposite-sex Spouse will receive the contingent annuitant's portion of your Grandfathered BEP Benefit as if you had terminated employment on your date of death and elected a 50% contingent annuity.

The Grandfathered Survivor Benefit will commence as of the first of the month following the month in which you would have attained age 65. Your eligible surviving opposite-sex Spouse can elect to commence the Grandfathered Survivor Benefit as early as the first of the month following the month when you would have attained age 55 by electing to commence the survivor benefit under the Retirement Plan. The monthly benefit will be reduced using the early retirement factors provided under the Retirement Plan.

The first payment will be made at the end of the month in which benefits commence under the Retirement Plan. Subsequent monthly payments are made at the end of each month.

You might also have the option to elect to have a Grandfathered BEP Survivor Benefit paid to an eligible opposite-sex Spouse in an actuarially equivalent single sum payment. See "Electing a Single Sum Survivor Benefit for a Grandfathered BEP Benefit."

If you die while actively employed after attaining at least age 50, and you have a Grandfathered BEP Benefit at the time of your death, your eligible surviving opposite-sex Spouse will receive 50% of your vested Grandfathered BEP Benefit, calculated as if you had terminated employment on your date of death.

The Grandfathered Survivor Benefit will commence as soon as administratively practicable after your death, provided that payments commence no later than ninety (90) days following the notification of your death. Subsequent monthly payments are made at the end of each month.

You might also have the option to elect to have a Grandfathered Survivor Benefit paid to an eligible opposite-sex Spouse in an actuarially equivalent single sum payment. See "Electing a Single Sum Survivor Benefit for a Grandfathered BEP Benefit."

If you die after you terminate and before commencing a Grandfathered BEP Benefit, your eligible surviving opposite-sex Spouse will receive the designated survivor's portion of your vested Grandfathered BEP Benefit calculated as if you had terminated employment on your date of death and elected the 50% Contingent Annuity option. The monthly benefit will be reduced using the early retirement factors provided under the Retirement Plan. See "Early Commencement: If You Commence Before Age 65" in the Marsh & McLennan Companies Retirement Plan section.

This benefit will commence as of the first of the month following the month in which you would have attained age 65. Your eligible surviving opposite-sex Spouse can elect to commence a Grandfathered Survivor Benefit as early as the first of the month following the month when you would have attained age 55 by electing to commence the survivor benefit under the Retirement Plan. The monthly benefit will be reduced using the early retirement factors provided under the Retirement Plan.

The first payment will be made at the end of the month in which benefits commence under the Retirement Plan. Subsequent monthly payments are made at the end of each month.

You might also have the option to elect to have a Grandfathered Survivor Benefit paid to an eligible opposite-sex Spouse in an actuarially equivalent single sum payment. See "Electing a Single Sum Survivor Benefit for a Grandfathered BEP Benefit."

The BEP does not pay a Grandfathered Survivor Benefit upon your death if you do not have a Grandfathered BEP benefit or you do not have an eligible surviving opposite-sex Spouse.

If you separate from service due to death, the Grandfathered Survivor Benefit payable to an eligible opposite-sex Spouse, if any, will be evaluated under the small benefit rule for a Grandfathered Benefit as of the first of the month following the calendar month in which you die. See "Small Benefit Payment Rule for Grandfathered BEP Benefit."