Financial Hardship Withdrawals

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	401(k) Savings & Investment Plan

	The Plan at a Glance

	Participating in the Plan

	How the Plan Works

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	Investing Your Account Balance

	Dividends on MMC Shares and Stock Voting Rights

	In-Service Withdrawals

	Financial Hardship Withdrawals

		Approval

		Taxes on Financial Hardship Withdrawals

		How to Apply

		Check Delivery

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	How Benefits Are Paid

	When Benefits Are Paid

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	Rollovers Out of the Plan

	How Benefits Are Taxed

	In Case of Divorce

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	Merged Plans

	Account Information

	Miscellaneous

	Glossary

Financial Hardship Withdrawals

If you have already made or applied for the maximum in-service withdrawals and loans, you may request a financial hardship withdrawal, subject to the conditions described below:


Type of withdrawal	Reason for withdrawal	How to request/documentation required
Financial Hardship If you have already withdrawn all amounts available from all plans within the MMC control group, you may apply to withdraw your before-tax contributions and transferred elective deferral contributions. The Internal Revenue Code requires that all other available withdrawals and loans from tax-qualified plans of the MMC control group be taken first.	You must meet one of the conditions below:	Complete the Financial Hardship Withdrawal Form and attach one of the items listed below as appropriate. As instructed on the form, you must complete the "Reason for Withdrawal" section of the request form, showing that you cannot obtain the money you are requesting from other sources, including loans and dividends as cash. The Financial Hardship withdrawal will be limited to the amount you need to alleviate the hardship, plus Federal and state income tax withholding. The Financial Hardship withdrawal may not exceed the portion of your vested account balance which is not being used as security for a loan.
	Unreimbursed medical expenses for you or your spouse or dependents.	Copies of the medical bill(s), and your explanation of benefits statement(s)
	Purchase of your primary residence.	A signed copy of a purchase and sale agreement. If you need the withdrawal to cover closing costs, you must also provide a Good Faith Estimate (an estimate of the charges that you will be required to pay on the closing of your loan) from a lender.
	Payment for Post-secondary education for you or your spouse or dependents for the next 12 months.	A copy of tuition bill(s) from the Bursar's office showing all credits (e.g., scholarships, financial aid, student loans, etc.) and other school-related expenses.
	Need to prevent eviction from or foreclosure on your principal residence.	A copy of the eviction or foreclosure notice, or a letter from your landlord. The notice or letter must state the amount that you owe. A notice to collect unpaid taxes will only qualify if you have documentation of the local tax authority threatening to commence a foreclosure proceeding on your property.
	Payment for burial or funeral expenses for deceased parent, spouse, child, or dependent.	A copy of the death certificate and mortuary bill.
	Payment of expenses for the repair of damage to my principal residence caused by fire, storm or other casualty.	A copy of the repair bill, estimate or signed work order for the repair, or a copy of IRS Form 4684.

You cannot use a financial hardship withdrawal to repay a loan or purchase luxury items.

The hierarchy of money types for financial hardship withdrawals is as follows:

pre-87 after-tax contributions

post-86 after-tax contributions

rollover contributions

prior plan company matching contributions

profit sharing prior plan contributions

core Company matching contributions

performance-based Company matching contributions

Additional Company Matching Contributions*

before-tax contributions.

* Additional Company Matching Contributions are the 28-1/3% match made prior to January 1, 2006 on certain contributions made by participants who met certain age and plan participation requirements.

Your available withdrawal does not include any post-1988 earnings on your pre-tax contributions or any Special Company Contributions, which may not be withdrawn on account of hardship.

You can obtain the vested amounts available for financial hardship withdrawals from ibenefitcenter via MMC PeopleLink (www.mmcpeoplelink.com) or call the MMC Employee Service Center at 1-866-374-2662 to hear the amount available for withdrawal.

Within each in-service withdrawal category, withdrawals will be paid from the various investment funds on a prorata basis.