3M to scrap pension plans for non-union employees | MarketWatch

3M to scrap pension plans for non-union employees | MarketWatch

3M to scrap pension plans for non-union employees | MarketWatch

3M Co., the renowned consumer, industrial, and healthcare products company, has made a significant announcement that could affect the retirement plans of its non-union U.S. employees. They have revealed their intention to discontinue their pension plan in five years, emphasizing a shift towards a 401(k) retirement plan structure. According to 3M, this transition aims to provide employees with more flexibility and control over their investments for their future.

The decision has implications for 3M and Solventum, an independent healthcare company that 3M plans to spin off in the first half of 2024. However, those currently receiving pension payments from 3M will not be impacted by this change, as it will come into effect on December 31, 2028.

This move by 3M raises questions about the evolving landscape of retirement planning and the relationship between businesses and their employees. How might such retirement benefits shifts impact workers’ financial well-being and their long-term financial security? And what role do these decisions play in a company’s financial health and market performance?……….full-loaf-600x400-1-e1700879832480 3M to scrap pension plans for non-union employees | MarketWatch[read more]

Rising Dough

Rising-Dough-e1700879911412 3M to scrap pension plans for non-union employees | MarketWatchHow do changes in employee retirement plans, like 3M’s shift to a 401(k) structure, influence a company’s competitiveness, shareholder relations, and overall economic impact?

Share this content:

0 0 votes
Article Rating
stonestreetcoffee.com ☕️ **Discover Stone Street Coffee Company - Your Coffee Haven!** Today's Dough readers, if you're on the hunt for exceptional coffee and cold brew, look no further than Stone Street Coffee Company. We at Today's Dough are smitten with their rich coffee blends and refreshing Cold Brew. Stone Street's commitment to quality shines through in every sip. Now, exclusively for our readers, click the banner above to snag a $5 off coupon on your next order. Experience the finest, ethically sourced beans roasted to perfection. Join the Stone Street community, savor top-notch coffee, and elevate your daily brew. ☕️🌟

Subscribe
Notify of
guest

0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
×