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Plan Type
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Eligibility and Enrolling
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You are eligible for the Plan if you:
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are a U.S. regular or temporary employee of a participating company,
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do not participate in a retirement plan sponsored by another employer in the Marsh & McLennan Companies controlled group.
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Participation generally begins on the first of the month in which you satisfy the eligibility requirements. Enrollment is automatic, no action is required by you.
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Funding
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When You Become Vested
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How Your Benefit is Calculated
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When You Can Begin Receiving Your Benefit
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You are eligible for a retirement benefit if you leave the company and are age 65 or older, or are at least 55 and have at least 60 months of vesting service.
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You may retire and begin receiving unreduced monthly benefit payments at age 65 (normal retirement age).
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You may elect early retirement and begin receiving reduced monthly benefit payments at or after age 55, provided you have at least 60 months of vesting service.
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You may defer retirement beyond age 65 and earn a benefit until you elect a deferred retirement. You may not see an actuarial increase in your benefit for deferring retirement beyond your normal retirement date.
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How Your Benefit is Paid
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The Plan offers a number of payment forms for your retirement benefit.
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Each payment form is actuarially equivalent—that is of equal value determined using the actuarial assumptions in the Plan. The differences in the amounts payable under each form, reflect the nature of the various payment forms.
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Tax Treatment
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How to Apply for Your Benefit
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If you are actively employed and want to begin the retirement process:
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You must contact your Human Resources Representative at least 30 but not more than 90 days before your anticipated retirement date.
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Certain information and documentation is required before benefits under the Plan can commence.
If you leave Marsh & McLennan Companies before you retire and you want to commence your retirement benefit; you must:
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Contact the Employee Service Center to request a retirement package.
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Send all required information, completed forms and related documents to the Employee Service Center at least 30 but not more than 90 days before the date you want your benefits to begin.
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If You Leave Marsh & McLennan Companies and Return
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If you are rehired, your vesting service and benefit service earned since December 31, 1984 is restored.
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Your vesting service and benefit service earned prior to January 1, 1985, if any, may be restored, depending on your vesting status when you left and the length of your absence.
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If you are rehired after you have commenced retirement benefit payments, your payments will be suspended while you are employed. In addition, if you are rehired within 90 days of your prior termination, you must repay any retirement benefit payments received since your termination date.
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When you again retire, your benefits will be recalculated to take into account any additional benefits you earned and will be offset by the value of any benefits you received and have not repaid to the Plan.
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Contact Information
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