Transfers From a Non-participating Company

MMC Benefits Handbook

General Rules

Generally, all service with a non-participating company will be considered as Vesting Service. If you transfer from a non-participating company to a participating company, your service with the non-participating company will be considered as Vesting Service subject to the rules for determining Vesting Service. See "Vesting Service" for details.

Generally, your service with the non-participating company will not be counted as Benefit Service and your service with a participating company after December 31, 2016, the date benefit accruals were discontinued under the Plan, will not be counted as Benefit Service.

If you Transferred Between a Participating and Non-participating Company Prior to August 1, 2006

If you were an Active Participant in the Marsh & McLennan Companies Retirement Plan prior to August 1, 2006 and either (i) transferred from a non-participating company to a participating company before August 1, 2006; or (ii) transferred from a participating company to a non-participating company before August 1, 2006 and subsequently transfer back to a participating company either before, on or after August 1, 2006 and have not incurred a termination of employment since August 1, 2006, the following special rules may apply to you.

Your service with the non-participating company may be counted as Benefit Service provided the non-participating company sponsored a retirement plan as defined by the Plan Administrator.

If you transferred to a participating company from a US non-participating company, your service with the US non-participating company will be counted as Benefit Service if the US non-participating company sponsored a defined benefit retirement plan, profit sharing plan or similar plan as defined by the Plan Administrator.

If you transferred to a participating company from a non-US affiliate prior to January 1, 2002, your service with the non-US affiliate will be counted as Benefit Service if the non-US affiliate sponsored a defined benefit retirement plan, profit sharing plan or similar plan as defined by the Plan Administrator.

If you transferred to a participating company from a non-US affiliate on or after January 1, 2002, your service with the non-US affiliate will be counted as Benefit Service if: (i) a retirement benefit is payable from the plan sponsored by the non-US affiliate and (ii) the plan sponsored by the non-US affiliate is a defined benefit plan as defined by the Plan Administrator.

If the non-participating company did not sponsor a retirement plan, or the retirement plan sponsored by the non-participating company was a voluntary plan (e.g., it required you to affirmatively elect to make employee contributions) and you did not elect to participate, your service with the non-participating company will not be included as Benefit Service.

Your Accrued Benefit will be reduced by the lesser of (i) and (ii) below where:

(i) is the actuarial equivalent of any benefits to which you are entitled under any retirement, profit sharing or similar plan maintained by the non-participating company attributable to contributions by the non-participating company, and

(ii) is the actuarial equivalent of your Accrued Benefit under this Plan attributable to your service with the non-covered company.

If you previously received your benefit under the non-participating company's plan, then the actuarial equivalent of the benefit that was distributed will be used to determine the reduction to your Accrued Benefit under this Plan.

If you received pay in a currency other than US Dollars during your period of service with a non-participating company, your eligible monthly salary for purposes of your Plan benefit will be determined by converting such non-US currency to US dollars using the OANDA Interbank ask rate on the effective date of each pay rate change for each period of the offset.