The Marsh & McLennan Companies Retirement Plan at-a-Glance

MMC Benefits Handbook


Plan Type	The Plan is a tax-qualified defined benefit retirement plan designed to provide monthly benefit payments to you beginning at the date benefits commence. See "How the Marsh & McLennan Companies Retirement Plan Works" for a general description of the Plan's benefit formula.
Eligibility and Enrolling	You were eligible for the Plan if you: were a US regular or temporary employee of a participating company, were at least age 21, had at least one year of vesting service prior to January 1, 2017, and did not participate in a retirement plan sponsored by another employer in the Marsh & McLennan Companies World-wide Controlled Group. Participation generally began on the first of the month in which you satisfied the eligibility requirements. Enrollment was automatic; no action was required by you. See "Participating in the Plan" for details.
Funding	Plan benefits are funded by Company contributions and investment gains. The Plan's assets are held in a tax-exempt trust. The Company pays the full cost of the Plan. Participant contributions were not required or permitted.
When You Become Vested	You are vested upon accruing 60 months (5 years) of Vesting Service, or upon attaining age 65 while employed by a company in the Marsh McLennan World-wide Controlled Group. See "Vesting Service" for more details.
How Your Benefit is Calculated	The formula used to calculate your Accrued Benefit on or after January 1, 2006 and before January 1, 2017 takes into account your Covered Compensation, Eligible Monthly Pay, length of Benefit Service and the Plan's benefit accrual percentage. The Plan's benefit accrual percentage varies depending on your length of Benefit Service. See "How the Marsh & McLennan Companies Retirement Plan Works" for details. The formula used to calculate your annual benefits is different for any benefits that may have been credited as of December 31, 2005. See "Plan Benefit Formula for Benefit Accrued prior to January 1, 2006" for details.
When You Can Commence Your Benefit	You are eligible to commence monthly benefit payments if you terminate employment with the Company (including any member of its World-wide Controlled Group) and are age 65 or older, or are at least age 55 and have accrued at least 60 months (5 years) of Vesting Service. See also: "Mercer US Phased Retirement Program", for a description of a special limited-time program providing certain eligible participants employed by Mercer with an in-service benefit payment commencement opportunity. If you terminate employment and commence your vested accrued benefit upon attaining age 65 (Normal Commencement Age), you may commence unreduced monthly benefit payments. If you terminate employment after accruing at least 60 months (5 years) of Vesting Service, you may commence reduced monthly benefit payments on or after attaining age 55 (Early Commencement). If you were at least age 55 when you terminated (Retired Participant) and you choose to commence monthly benefit payments before age 65, your monthly benefit payment will be reduced to reflect a longer expected payment period. However, it will be reduced by a lesser amount than would apply if you terminated before age 55 (Terminated Vested Participant). If you remain employed with the Company beyond age 65, your monthly benefit payment will not be adjusted to reflect the shorter expected payment period when you do elect to commence your benefit (Deferred Commencement). If you terminate employment and defer commencement of your benefit beyond age 65 (Deferred Commencement) your monthly benefit payment will be increased to reflect the shorter expected payment period from the later of your Normal Commencement Age or your termination date. You must commence your benefit by no later than the April 1st following the calendar year in which you attain age 70-1/2, even if you remain employed by the Company. See "When Benefits Commence" for details.
How Your Benefit is Paid	The Plan offers a number of forms of payment for your vested Accrued Benefit. Each payment form is Actuarially Equivalent, which means that they are all of equal value determined using the actuarial assumptions in the Plan. The differences in the amounts payable under each form reflect the nature of the various payment forms (e.g., guaranteed number of payments or payments over the course of two lives). See "How Benefits are Paid" for details.
Tax Treatment	Benefits are taxable to participants. See "How Benefits are Taxed" for details.
How to Apply for Your Benefit	If you are actively employed with a company in the Marsh McLennan World-wide Controlled Group and wish to terminate employment and commence monthly payments, you can apply for benefits, taking note of the following: You must contact HR Services at +1 866 374 2662 (press option 1, then option 3 for pension benefits), Monday through Friday, from 8:00 am to 8:00 pm, ET to request a commencement package. You must request a commencement package at least 30 but not more than 90 days before the date you would like to commence benefits. Certain information and documentation are required before benefits can commence. Visit www.myplansconnect.com/mmc to start the retirement benefit commencement process online from your computer, tablet or cellphone. See "Commencing a Benefit" for details. If you leave Marsh McLennan with a vested Accrued Benefit (but you do not or cannot commence payments when you terminate employment) and want to commence your vested Accrued Benefit at a later date, you must: Contact HR Services at +1 866 374 2662 (press option 1, then option 3 for pension benefits), Monday through Friday, from 8:00 am to 8:00 pm, ET to request a commencement package at least 30 days but not more than 90 days before your elected Benefit Commencement Date. Send all required information, completed forms and related documents to HR Services within 90 days of the date on the commencement package. See "If you are Currently a Terminated Vested or Retired Participant Who has not yet Commenced Monthly Benefit Payments" for details. Visit www.myplansconnect.com/mmc to start the retirement benefit commencement process online from your computer, tablet or cellphone.
If You Leave Marsh McLennan and Return	If you are rehired, your Vesting Service and Benefit Service credited since December 31, 1984 is restored. Your Vesting Service and Benefit Service credited prior to January 1, 1985, if any, may be restored, depending on your vesting status when you left and the length of time before you are rehired. Generally, if you are rehired after you have commenced monthly benefit payments by any member company of the Marsh McLennan World-wide Controlled Group that is a participating company in the Plan, monthly benefit payments will cease and remain suspended while you are actively employed as a regular or temporary employee. (If you are rehired within 90 days of your termination and you commenced monthly benefit payments, you must repay any monthly benefit payments received since your termination date.) When you again terminate employment, your Accrued Benefit will be recalculated and offset by the value of any monthly benefit payments you previously received. Your benefit must recommence within three months of the date you terminate employment.
Contact Information	For more information, contact HR Services at +1 866 374 2662 (press option 1, then press option 3 for pension benefits), Monday through Friday, from 8:00 a.m. to 8:00 p.m. Eastern time.