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Plan Feature
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Highlights
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Plan Type
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The Mercer HR Services Retirement Plan is a tax-qualified retirement plan. Each calendar quarter, Mercer HR Services plans to contribute an amount based on your years of vesting service and your eligible pay to a retirement account set up for you. IRS limits on salary and benefits apply because the plan is tax-qualified.
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Eligibility and Enrolling
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You are eligible to participate in the Mercer HR Services Retirement Plan if you are classified as a U.S. regular or temporary employee of Mercer HR Services paid on a U.S. payroll.
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Your participation begins on the first of the month in which you are at least age 18 and have one year of vesting service. Participation is automatic, although you will need to make investment direction elections for your account and name a beneficiary.
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See "Participating in the Plan" on page 2 for details.
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Funding
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Contributions
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The Company makes a retirement contribution to your account as of the end of each calendar quarter.
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The amount is based on your years of vesting service and your eligible pay for that quarter.
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The Plan does not accept employee contributions.
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Participant A received a distribution on February 28, 2009, following his January 1, 2009 termination. Participant A was later rehired on June 1, 2010. Participant A's buyback must be made by January 1, 2015: the earlier of June 1, 2015 (the fifth anniversary from Participant A's rehire date) or January 1, 2015 (the fifth anniversary of Participant A's termination date following his February 28, 2009 distribution).
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See "Company Contributions" on page 6 for details.
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Vesting
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Investing Contributions
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You can invest your account in any fund offered under the Plan.
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You can change the investment direction of future contributions.
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You may transfer/reallocate all or portions of your existing account balance in shares, percentages or dollars to any of the funds offered by the Plan.
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See "Investing Your Account Balance" on page 8 for more details.
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When Benefits are Paid
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You can withdraw money from your vested account for any reason while you are working if you are age 59(1)/2 or older.
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When you leave the Company:
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you are entitled to your vested account balance
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your account must be distributed if the vested account value is $1,000 or less, otherwise
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if your vested account value is more than $1,000, your account can remain in the Plan until the April 1st of the year following the calendar year in which you attain age 70(1)/2.
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See "When Benefits Are Paid" on page 21 for details.
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Contact Information
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For more information, contact the:
Mercer HR Services Retirement Plan
Marsh & McLennan Companies Employee Service Center
Phone: +1 866 374 2662
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