MMC Benefits Handbook
In-Service Withdrawals
Below are the available types of in-service withdrawals in addition to financial hardship withdrawals. You may ask to receive shares of Marsh & McLennan Companies stock or a check for these withdrawals.
Fixed Company contributions are not an eligible source of funds for any in-service withdrawals. Accordingly, if you have not made any employee contributions to the Plan and your account balance consists solely of fixed Company contributions, you are not eligible to take any in-service withdrawals.
The withdrawal options available under the Plan are listed below.
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Withdrawal Options
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The Hierarchy for the Withdrawal of Funds is:
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After-tax Withdrawal
All or a portion of after-tax contributions and any associated earnings on those contributions.
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Rollover Withdrawal
All or a portion of rollover contributions and any associated earnings on those contributions.
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MHRS Plan Account Withdrawal
All or a portion of MHRS Plan Account.
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Employer Withdrawal
All or a portion of Vested Company Matching Contributions and any associated earnings on those contributions.
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Age 59-1/2 Withdrawal
All or a portion of the vested account balance, provided you are an active employee and at least age 59-1/2.
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Roth Account Withdrawal*
All or a portion of Roth contributions and any associated earnings on those contributions.
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Disability Withdrawal*
All or a portion of the vested account balance, provided you have been approved for benefits under the Marsh & McLennan Companies Long Term Disability Plan in accordance with plan provisions.
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In-Plan Roth Conversion Withdrawal
All or a portion of In-Plan Roth Conversion Account.
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Qualified Birth or Adoption Withdrawal
All or a portion of the vested account balance, up to $5,000 per child, provided you are an active employee. Withdrawal must be taken within one year of the birth or adoption.
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* If (i) you elect a Roth Account Withdrawal, (ii) you have made Roth 401(k), Roth rollover or Roth catch-up contributions and (iii) you do not satisfy the applicable requirements for a qualified distribution (as described in the Taxes on Withdrawals section), your withdrawal will be considered a non-qualified distribution (and earnings on those contributions will be taxable).
** Additional Company Matching Contributions are the 28-1/3% match made prior to January 1, 2006 on certain contributions made by participants who met certain age and Plan participation requirements.
*** As noted in the "Taxes on Withdrawals" section, if you take an In-Plan Roth Conversion Withdrawal less than five years from the date you made the in-plan Roth conversion, you must pay the 10% Federal early withdrawal tax on the investment earnings converted which was waived at the time you made the in-plan Roth conversion.
Within each in-service withdrawal category, withdrawals will be paid from the various investment funds on a pro-rata basis.
You may view the amounts available for withdrawal online. Go to Colleague Connect (https://mmcglobal.sharepoint.com/sites/home). Select Pay & Benefits, and click My Pay & Benefits, select Alight under Savings & Financial Planning or call HR Services at +1 866 374 2662.