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.
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 are disabled.
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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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* Additional Company Matching Contributions are the 28-1/3% match made prior to January 1, 2006 in the Marsh & McLennan Companies 401(k) Savings & Investment Plan on certain contributions made by participants who met certain age and Plan participation requirements.
** 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 (including satisfying the five taxable year period and either attaining age 59-1/2 or incurring disability or death), your withdrawal will be considered a non-qualified distribution (and earnings on those contributions will be taxable).
*** These accounts may pertain to employees that transferred along with their Marsh & McLennan Companies 401(k) Savings & Investment Plan accounts from Marsh McLennan to MMA.
**** As noted in the "Taxes on Withdrawals" section, if you take an In-Plan Roth Conversion Withdrawal and you do not satisfy the applicable requirements for a qualified distribution (including satisfying the five taxable year period and either attaining age 59-1/2 or incurring disability or death), your withdrawal will be considered a non-qualified distribution (and earnings on the in-plan Roth conversion amounts will be taxable). In addition, if you take the 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 prorata 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.
Any MMC fixed company contributions transferred from the Marsh & McLennan Companies 401(k) Savings & Investment Plan are not an eligible source of funds for any in-service withdrawals.