The AIP payment I received was almost less than 1/3 of the projected amount. I wasn't expecting it to be this low. Anyone else?
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I received the full payout for 2024, for time spent at 3M (January 1 to March 31) and Solventum (April 1 to Dec 31).
Believe those who did receive their payment. And those who transitioned from 3M to Solv in April were not paid the AIP from January to March when we were still in 3M.
Fake News… aip was based on number of months you’re with company in 2024. Remember SOLV birthday was April Fools day ( for real).
So no one has full aip payout Dummy.
Thanks for the calculations. I got paid what I calculated to be 113% for some reason, but I'm not complaining. They kicked me out in December anyway.
60% is for "Adjusted Constant Currency Revenue". We hit 101% of that, resulting in a payout of 115%.
40% is for "Adjusted Operating Income". We hit 100% of that, resulting in a payout of 103%.
This results in a net payout of 110.2%. Then you have to multiply by your Individual performance score.
Can anyone still at Solventum post/share the AIP “formula” that was used? For those of us that were eliminated in December, we’ve received our AIP payments, but no explanation or context around how the amounts were determined. When we were employees, we always got that statement from our managers that showed the formula that was used to arrive at the amount.
Mine was only around 25% of what I thought it would be... Is this because of being laid off from Solventum?
I typically got about 55% of the overall AIP amount in my actual paycheck. Withholding taxes were done at a higher rate than in monthly paychecks. Also, any 401k deductions were significantly larger due to the larger amount.
It's likely tax withheld if you only received 1/3 of what was the 100%.
I did get the money in the bank. I saw another thread saying that AIP payments would be made on the 15th, so I'm confused about the timing of it too.
That seems a little low...but not too far off. I believe that tax withholdings on variable pay like this is typically higher than standard withholdings - I think they generally withhold at the highest rate. That doesn't mean that you will actually get taxed at that rate, it'll get sorted out when you file your 2025 taxes.
401k contributions are also withdrawn from this money, so if you have a high contribution rate, that'll decrease it by a lot. Also GESPP used to be withdrawal as well, but Solventum doesn't offer that (good riddance).
Have you received your payment? I just checked, I got the statement from my manger a few weeks ago, and now I see a pay slip in workday, but no money in the bank.