MMC Benefits Handbook
Marsh & McLennan Companies Retirement Plan
The Marsh & McLennan Companies Retirement Plan (also referred to as the "Plan") is a central part of the Company's US Retirement Program. The Company discontinued benefit accruals under the US Retirement Program, including the Plan, effective December 31, 2016.
The US Retirement Program (Program) will provide income for your retirement provided you participated in the Program before January 1, 2017 and meet its vesting requirements before your final termination of employment with the Company. You are eligible to participate in the Program if you were classified by the Company as a US regular or temporary employee (including employees who are classified by the Company as US expatriates) of Marsh & McLennan Companies or any participating company in the Plan, you were age 21 and you had one year of vesting service prior to January 1, 2017.
Benefits under the Program may be payable from three sources: (i) the Marsh & McLennan Companies Retirement Plan and for certain highly compensated employees, (ii) the Benefit Equalization Plan and (iii) the Supplemental Retirement Plan.
This section of the Benefits Handbook describes the provisions of the Plan as of June 3, 2022. If you terminated employment before June 3, 2022, prior Plan provisions may determine your benefit.
The Plan is a Tax-Qualified Plan that may pay a benefit according to a formula that considers your Eligible Monthly Pay and Benefit Service with the Company, as well as your Covered Compensation according to the Social Security Administration's Covered Compensation table.
The Benefit Equalization Plan and the Supplemental Retirement Plan cover certain highly compensated employees and are non-qualified plans. Additional information regarding these plans can be found in the sections of the Benefits Handbook that summarize the Benefit Equalization Plan and the Supplemental Retirement Plan.
This section of the Benefits Handbook describes "Special Limited-Time Benefit Payment Opportunities" under the Plan. These enhanced payment features have been offered to certain participants who have met the eligibility criteria and submitted their valid elections in accordance with specified procedures during the prescribed time periods. The provisions in the relevant subsection of the Benefits Handbook describing these special opportunities override any conflicting provisions elsewhere in the Benefits Handbook, subject to the Retirement Plan terms and applicable law.
Defined terms are used throughout this section of the Benefits Handbook. These terms are defined by links to the "Glossary" . The terms "employee," "you" and "your" refer to a US employee (regular or temporary) of Marsh & McLennan Companies or any other participating company.
A Note about ERISA
The Employee Retirement Income Security Act of 1974 (ERISA) is a federal law that governs many employer-sponsored plans including this one. Your ERISA rights in connection with the Plan are detailed in the Administrative Information section that, together with this section constitute the Summary Plan Description for the Plan. Please note that the Plan rules are very detailed and this is only a summary.
In the case of any conflict between this description of the Plan and the official Plan document, the Plan document governs. See also the Administrative Information section.
References in this section of the Benefits Handbook to "Company" means Marsh & McLennan Companies, Inc. and its subsidiaries and affiliates other than (i) Mercer Services (including: Mercer HR Services, LLC., Mercer Trust Company, and (except during the period from July 1, 2013 through February 29, 2016) Mercer Health and Benefits Administration, LLC), (ii) Mercer Systems Services, (iii) Marsh & McLennan Agency LLC and (iv) Dovetail Insurance Corporation. References in this section to Marsh & McLennan Companies mean Marsh McLennan.