Benefits Handbook

A Required Minimum Distribution ("RMD") is a minimum annual distribution from the Plan. The Internal Revenue Code requires that retired or terminated participants that attain age 72 (if you were born after June 30, 1949) or age 70-1/2 (if you were born before July 1, 1949) must receive an RMD from the Plan each year. The first RMD must be received no later than the April 1st following the calendar year in which you attain age 72 (if you were born after June 30, 1949) or age 70-1/2 (if you were born before July 1, 1949) or if later, the calendar year following your Retirement or termination of employment.

If you do not complete and return the Required Minimum Distributions Form and Benefit Distribution Form as instructed, the balance in your account under the Plan, including any amount invested in the MMC Stock Fund, will be distributed to you by check and taxes will be withheld.