MMC Benefits Handbook
Transactional Fees
In addition, certain expenses may be charged directly to your account based on certain account transactions. Below is a list of the Plan's transactional fees as of January 1, 2025; these fees are subject to change.
  • Payment fee: $25 per request
    • This fee applies to most types of in-service withdrawals, full or partial distributions, and the first payment in a series of installment payments.
    • The fee is deducted from your remaining account balance, so it will not impact the amount of your requested distribution. (Exception - if you take a lump sum distribution of your entire balance, the fee will be deducted from the distribution amount).
    • The fee does not apply to hardship withdrawals, dividend payments, recurring installments after the first payment, mandatory distributions under $1,000, QDRO payments, required minimum distributions, or refunds of excess contributions.
  • Loan fee: $50 initiation fee for each new loan requested
  • Overnight check fee: $25 (if an overnight check is requested by the participant)