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Glossary
Beneficiary
The person or entity you designate (or who, under the terms of the plan, will) receive your remaining account balance after you die.
Installment
Monthly, quarterly, semi-annual or annual income that continues for a specified period of time, like for a number of years or number of payments.
MMC Employee Service Center
Marsh & McLennan Companies, Inc.
121 River Street
Hoboken, NJ 07030
Phone: (866) 374-2662
Qualified Domestic Relations Order (QDRO)
A judgment, decree or order issued by a state court that relates to child support, alimony payments or marital property rights to a spouse, former spouse, child or other dependent and is made pursuant to a state domestic relations law (including a community property law). It is considered a qualified domestic relations order if it creates or recognizes the existence of an alternate payee's right - or assigns to an alternate payee the right - to receive all or a portion of the benefits payable to a participant under a plan, specifies required information, does not alter the amount or form of plan benefits and is approved by the plan.
 
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