Benefits Handbook

If you are found to be disabled under the Marsh & McLennan Companies Long Term Disability Plan and you are absent from work due to that disability for a period of 29 continuous months, you will incur a disability Separation from Service. If you incur a disability separation, the portion of your vested 409A BEP Benefit that is subject to that payment trigger will commence in the calendar month following the month in which you attain age 65.

The portion of your vested 409A BEP Benefit that is subject to the disability payment trigger includes:

For example, Jeanette had no prior separation events when she began a disability absence on June 1, 2010. She was approved for Long Term Disability benefits on December 1, 2010 and remained continuously eligible for Long Term Disability benefits through November 1, 2013 when she attained age 65 and retired. Jeannette incurred a disability separation on November 1, 2012, her 29th month of absence due to her disability. As a result of incurring a disability separation, the vested 409A BEP Benefit that Jeannette accrued as of November 2012, her disability separation date, plus the 409A BEP Benefit that she accrued from November 2012 through November 2013, her retirement date, will commence in December 2013, the calendar month following the month in which she attains age 65.

In the event that you remained eligible for Marsh & McLennan Companies Long Term Disability benefits and you continued to accrue a 409A BEP Benefit after you attained age 65, the timing of the payment of your 409A BEP Benefit will depend on when you incur a disability separation.

For example: Carlos incurs a disability separation in February 2010, after 29 months of continuous disability. Carlos attains age 65 in August 2010 having accrued a vested 409A BEP Benefit of $1,000 per month. Carlos continues to accrue a 409A BEP Benefit until he is no longer eligible for Marsh & McLennan Companies LTD benefits in August 2011. As of December 2010 he accrued an additional $40 per month and as of August 2011 he accrued another $80 per month. Carlos' 409A BEP Benefit commenced in September 2010 and he received $1,000 per month. His monthly 409A BEP Benefit was revalued based on additional accruals for September through December 2010 and increased to $1,040 per month starting with the January 2011 payment. His monthly 409A BEP Benefit was revalued again based on additional accruals for January through August 2011 and increased by $80 to $1,120 per month starting with the September 2011 payment, the month following the month in which Carlos' BEP accruals stopped.

If you have another period of employment at any time after incurring a disability separation, any portion of a 409A BEP Benefit you accrue during the subsequent period of employment, will not be paid until there is a subsequent Separation from Service. The payment terms will depend on the type of Separation from Service.

For example: Andrea incurs a Separation from Service after 29 continuous months of disability on January 15, 2010. Her continuous period of disability ends on February 28, 2010 and she terminates employment. Andrea had a vested accrued benefit of $1,000 per month at the time of her termination. Several years later, Andrea is reemployed on March 1, 2013 and begins earning an additional 409A BEP Benefit. She works another three years and retires on February 28, 2016 at age 60, accruing an additional 409A BEP Benefit of $250.00 per month. Andrea is deemed to have separated from service on February 28, 2016 due to a reduction in hours. The portion of her 409A BEP Benefit that was accrued through the end of her disability period ($1,000 per month), will commence in the calendar month following the date she attains age 65. The portion of her 409A BEP Benefit that was accrued after she returned to active employment ($250.00 per month) will commence effective March 1, 2016, the month following her second separation date, February 28, 2016. However, her payments are subject to a required delay. Andrea is not a Specified Employee at the time her payment commences so she will receive a payment representing her first four monthly payments in June, 2016, the fourth month following the month in which she incurred a Separation from Service due to a reduction in hours.