MMC Benefits Handbook
Receiving a Distribution
You may be eligible to withdraw certain eligible sources of funds from your Vested account while working (in-service withdrawals) or while disabled:
  • for qualifying financial hardships (Financial Hardship Withdrawal).
  • for any reason, once you reach age 59-1/2 (Age 59-1/2 Withdrawal*).
  • for any reason if you are approved for benefits under the Marsh & McLennan Companies Long Term Disability Plan in accordance with that plan's provisions (Disability Withdrawal*).
  • for any reason if it is your after-tax account (After-tax Withdrawal).
  • for any reason if it is vested Company Matching Contributions (Employer Match Withdrawal).
  • for any reason if it is your rollover account, including Roth rollovers (Rollover Withdrawal*).
  • for any reason if it is your MHRS Plan Account (MHRS Plan Account Withdrawal).
  • for any reason if it is your in-plan Roth conversion account (In-Plan Roth Conversion Account Withdrawal*)
  • for a qualifying birth or adoption of the participant's child (Qualified Birth or Adoption Withdrawal*)
* A withdrawal of Roth sources (including, where applicable, Roth 401(k) contributions, in-plan Roth conversion amounts, and rollovers of Roth contributions from other employer 401(k) plans, section 403(b) plans or governmental section 457(b) plans) will be considered a non-qualified distribution and earnings on those amounts will be taxable, unless (1) the withdrawal is made after you reach age 59-1/2 (or after you die or become disabled) and (2) you satisfy the required five taxable year period for a qualified distribution. The five-year period begins upon the earliest of the following: (i) your first Roth 401(k) contribution to the Plan, (ii) your first in-plan Roth conversion under the Plan, or (iii) your first Roth contribution to another employer's 401(k), section 403(b) or governmental section 457(b) plan if you made a direct rollover of Roth contributions from the other plan to this Plan.
Fixed Company contributions are not an eligible source of funds for any in-service withdrawals. For more information regarding eligible sources of funds for in-service withdrawals, see "In-Service Withdrawals."
In-service withdrawals are not subject to a suspension of Company matching contributions.
You can take a loan (borrow) from your vested account:
  • and have up to two outstanding loans at a time.
  • for any reason.
When you leave the Company:
  • you are entitled to your vested account balance.
  • your account must be distributed if the vested account value is $1,000 or less, otherwise.
  • if your vested account value is more than $1,000, your account can remain in the Plan until April 1st of the calendar year after the year in which you attain age 73 (if you were born after December 31, 1950) or age 72 (if you were born after June 30, 1949 but before January 1, 1951) or age 70-1/2 (if you were born before July 1, 1949), when distributions must begin.