MMC Benefits Handbook
Basic Long Term Disability
This section provides a summary of the Basic Long Term Disability Plan (the "Plan") as of January 1, 2023.
This section, together with the Administrative Information section and the applicable section about participation, forms the Summary Plan Description and plan document of the Plan.
This Plan provides you with income in case you can't work for an extended period of time because of an injury or illness. Benefits under Marsh & McLennan Companies' Basic and Optional Long Term Disability Plans are based on your "pre-disability earnings" (e.g. annual base salary, excluding overtime, bonuses, commissions and other extra compensation) in effect prior to your date of disability, up to a maximum covered annual base salary of $520,000. If you are approved to receive the Basic Long Term Disability benefit, the Plan provides you with a monthly benefit of 40% of your pre-disability earnings up to a maximum monthly benefit of $17,333*. The Company provides you with this basic coverage, and you can choose to purchase additional optional coverage under the Optional Long Term Disability Plan and, if you are eligible, under the Long Term Disability Bonus Income Plan**.
* If you are employed by any entity in Bermuda, the monthly benefit is 60% of your pre-disability earnings, up to a maximum monthly benefit of $26,000.
** The Company provides individuals who are employed by any entity in Bermuda with this basic coverage and these individuals can choose to purchase additional coverage, if eligible, under the Long Term Disability Bonus Income Plan (these individuals cannot purchase additional coverage under the Optional Long Term Disability Plan).
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that governs many employer-sponsored plans including this one. Your ERISA rights in connection with this Plan are detailed in the Administrative Information section.