MMC Benefits Handbook
Obtaining an Estimate
You can obtain an estimate of your accrued benefit by accessing My Rewards or the US Retirement Program Calculator.
US Retirement Program Calculator
The US Retirement Program Calculator is an interactive on-line tool that lets you estimate your Accrued Benefit based on variable assumptions that you select. It allows you to input a termination date, your age when you expect to commence your monthly benefit payments, and the age of a designated survivor. The output from the calculation will display the estimated Accrued Benefit as well as the monthly payment amount for the most common forms of payment. The US Retirement Program Calculator is meant for planning purposes and only provides an estimate of the final monthly amount you may receive based on the variables you input. The US Retirement Program Calculator produces estimates which may not reflect the actual benefit you will receive if and when you are eligible to begin receiving benefits under the Marsh & McLennan Companies US Retirement Program. The actual amount of benefit you receive after your employment ends may differ from this estimate.
To access the US Retirement Program Calculator, go to Colleague Connect (https://mmcglobal.sharepoint.com/sites/Home) and click Pay & Benefits. Select My Pay & Benefits, under Savings & Financial Planning click Retirement Calculator.
PPA Benefit Statement
Each year, the Plan Administrator prepares a benefit statement for active Participants that is compliant with the requirements specified by The Pension Protection Act of 2006 (PPA). The PPA Benefit Statement includes a summary of your current Accrued Benefit expressed as a monthly payment under each of the available annuity forms commencing at age 65, as of the close of the prior Calendar year and an indication of your vested status.
You can access your PPA Benefit Statement, which shows your current Accrued Benefit under the Plan, via the US Retirement Program Calculator. To view your PPA Benefit Statement, click PPA Benefit Statement from the left navigation on the US Retirement Program Calculator home page. The PPA Benefit Statement is based on data from the US Retirement Program Calculator. However, the PPA Benefit Statement is based on your current, rather than projected, Benefit Service, as of the date indicated on the PPA Benefit Statement.
Special Situations Affecting Benefit Estimates
- If you have a Qualified Domestic Relations Order (QDRO), My Rewards, the US Retirement Program Calculator and the PPA Benefit Statement will not reflect any offsets to your Accrued Benefit which may apply.
- If you have been employed by a non-participating company, prior to a period of participation in the Plan or if you have a benefit payable from another retirement plan sponsored by an affiliate and received credit under this Plan for the same period of service, My Rewards, the US Retirement Program Calculator and the PPA Benefit Statement will not reflect any offsets to your Accrued Benefit which may apply.
- If you have accrued a benefit under a plan that was subsequently merged with the Marsh & McLennan Companies Retirement Plan (or a predecessor plan), e.g., Johnson & Higgins and Sedgwick, and you are eligible for indexation of your frozen Accrued Benefit from that merged Plan, MyRewards, the US Program Calculator and the PPA Benefit Statement will not reflect the projected value of the indexation benefit.
Requesting an Estimate
In certain situations, you may request that the Plan Administrator provide you with an estimated retirement benefit calculation.
You can request a US Retirement Program estimate only if:
- you have a Qualified Domestic Relations Order,
- you are at least age 50 with at least five years of Vesting Service,
- you are retiring within one year from the date of the request,
- you do not have access to the US Retirement Program Calculator,
- you are terminated with five years of Vesting Service,
- you have an Accrued Benefit that is subject to an offset due to your participation in another plan,
- you have an Accrued Benefit that is subject to an offset due to a Qualified Domestic Relations Order.
Only one calculation estimate is permitted per calendar year.
Contact HR Services at +1 866 374 2662, any business day, from 8 a.m. to 8 p.m. Eastern time.
Statement of a Vested Accrued Benefit
If you terminate employment with a vested Accrued Benefit and you are not yet age 55, you will receive a statement of your vested Accrued Benefit within 45 days of your termination date.