Mercer, a global consulting leader in advancing health, wealth and careers, and a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), has launched cutting-edge, market-leading online retirement functionality for its Mercer BenefitsCentralSM participant website. Online retirement will enhance Mercer’s existing large market Defined Benefit (DB) administration capabilities by providing participants with an innovative and convenient way to initiate, manage, and commence their pension plan benefit completely online, without the need for traditional paper kits.
Mercer BenefitsCentral launched in December 2014 to Mercer’s US Large Market Benefits Administration clients, achieving impressive results during its first Health and Benefits open enrollment cycle and, more recently, its initial Defined Benefit implementations (see Figure 1).
With online retirement, DB participants can easily track their progress throughout the commencement process, compare and select from available payment types, choose how and where their payments should be sent, upload any required documents, and submit their commencement request for processing – all online through Mercer BenefitsCentral. Online retirement went live for 55,000 plan participants in October. In addition, Mercer BenefitsCentral is available to 189,000 Health and Benefits plan participants.
“We are thrilled that our clients and participants have had such positive experiences with Mercer BenefitsCentral, and we are proud of our enhanced capabilities with online retirement,” said Matt Benjamin, Participant Experience Leader for Mercer’s Benefits Administration Practice. “With its intuitive design, advanced personalization, and strategically developed education and decision support tools, our online retirement functionality enables retirees to enjoy a seamless, hassle-free commencement experience, so that they can spend less time on their benefits and more time enjoying this stage of life with family and friends.”
“The launch of online retirement constitutes a significant investment in our administration business,” added Sandy McCarthy, Mercer’s US Benefits Administration Leader. “This exciting addition to Mercer BenefitsCentral reaffirms our commitment to bringing revolutionary offerings to our clients and their plan participants for years to come.”
For more information, including a video about Mercer BenefitsCentral, please visit http://www.mercer.com/what-we-do/health-and-benefits/health-benefits-administration.html
Mercer is a global consulting leader in talent, health, retirement and investments. Mercer helps clients around the world advance the health, wealth and careers of their most vital asset – their people. Mercer’s more than 20,000 employees are based in 43 countries and the firm operates in over 140 countries. Mercer is a wholly owned subsidiary of Marsh & McLennan Companies (NYSE: MMC), a global professional services firm offering clients advice and solutions in the areas of risk, strategy and people. With annual revenue of $13 billion and 57,000 colleagues worldwide, Marsh & McLennan Companies is also the parent company of Marsh, a leader in insurance broking and risk management; Guy Carpenter, a leader in providing risk and reinsurance intermediary services; and Oliver Wyman, a leader in management consulting. For more information, visit www.mercer.com. Follow Mercer on Twitter @Mercer.
Figure 1: Mercer BenefitsCentral achieves strong results for clients