In lieu of 3M's traditional pension plan, new hires will receive a new k savings plan, to which 3M will contribute 3 percent of pay to retirement accounts and a dollar-for-dollar match on employee contributions, up to 6 percent of pay. The changes, which are similar to those taken by scores of other corporations looking to reduce distant pension costs, will generally go into effect next year. Spokeswoman Jackie Berry said the new pension plan is designed to be portable, a characteristic that is highly desired by workers. Current employees and retirees will not see a change to their existing pension plan or to the current 6 percent match to their k plans, Berry said. But 3M will end its practice of quarterly and annual contributions to the k plan, which had varied depending upon 3M's performance each quarter, officials said.
Here, you can grow through challenging work at a leading global company and be rewarded for your efforts. Your pay. Be rewarded for your efforts with a competitive base salary and variable incentive pay linked to company and individual performance.
3M Co. said Monday that it is altering retiree medical plans and eliminating a defined-benefit pension plan for new hires, a benefit once. Here, live your best with unique resources and high-quality benefits. Medical and dental plan options, savings and retirement plans, a 3M employee stock. 3M Co. said it will soon stop offering its company health insurance plan to retirees, giving them a sum of money to shop and buy insurance on.
Your benefits. Live your best with unique resources and high-quality benefits.
3M confirmed it would eventually stop offering its health-insurance plan to retirees, citing the federal health overhaul as a factor.
Medical, dental and vision plan options, savings and retirement plans, a 3M employee stock purchase plan and many other resources can enhance your life, both physically and financially. Your life at 3M.
Grow through challenging work by leading important projects, working with diverse, talented people and finding endless opportunities to develop your skills — while enjoying access to many perks, programs and resources. To ensure that our pay remains aligned with our desire to remain competitive, 3M regularly benchmarks pay and benefits with other companies that are comparable in size and scope.
3M's (NYSE: MMM) decision to drop its retiree health insurance plan is an example of how it's likely to play out. While it does look like the other. Your benefits. Live your best with unique resources and high-quality benefits. Medical, dental and vision plan options, savings and retirement plans, a 3M. 3M Retiree HRA Plan – Non-Medicare Eligible SPD – January A retiree who retired from 3M Health Information Systems (“HIS”) is only eligible to.
Your pay may include two components: While base pay applies to all employees, variable pay is offered to eligible employees and may include annual incentives, sales incentives or other incentives. In most cases, you are eligible for the AIP if you are an active, non-production, salaried 3M employee.
3M recently announced it would change its coverage for retirees, but some experts say the number of companies that offered health benefits for. In the coming years, 3M Company will stop offering its company health insurance plan to retirees in favor of giving them an unspecified amount of money to buy. 3M Retiree Health Reimbursement Arrangement (HRA) Plan – Non-Medicare Medicare Insurance Guide by Aon Retiree Health Exchange (PDF, MB).
Employees eligible to receive sales incentive compensation do not participate in the AIP. Long-Term Incentive Plan LTIP Management-level and equivalent employees are eligible to receive equity grants based on their level of responsibility, individual contribution and leadership performance.
Health care benefits are another important part of 3M Total Rewards. We provide comprehensive, quality benefits to you and your eligible dependents.
3M Retires From Insuring Its Retirees
Disability Benefits We provide company-paid short-term and long-term disability coverage in the event you become ill or are injured and unable to work.
Life Insurance To help protect your financial security, 3M also offers a variety of life and accident insurance for you and your eligible dependents.
Other optional life insurance coverages are offered at group rates. Log-in required. You should refer to the documents that were mailed to your home. Medicare eligible retirees and their Medicare eligible dependents should evaluate and choose their individual plan s in the Medicare marketplace, if you wish to have prescription drug coverage and supplemental medical coverage.Should I accept my employer’s early–retirement offer?
Here are some reference materials to help you:. Browse the selections across multiple 3M divisions to find the best solution for your everyday needs.
3m health insurance retirees
Stay connected to 3Mgives alumni volunteer opportunities and stories, special matches, and calls for 3Mgives Award nominations by signing up for periodic e-mails. Call the 3Mgives Volunteer Alumni office at or send an e-mail to: Include your name, e-mail address, and employee number. Go to bCom Log in Help.
Jump to: Benefits Information. Retiree Connections. Medicare Eligible Retirees Medicare eligible retirees and their Medicare eligible dependents should evaluate and choose their individual plan s in the Medicare marketplace, if you wish to have prescription drug coverage and supplemental medical coverage.
Here are some reference materials to help you: