From a former 3Mer, that was let go 2.5 years ago, (when 3,000 were let go in Jan. 2021), short by 2 months to get to my “numbers of 92”, this company is collapsing!!! What kind of company does this to their employees? I was 59(2 weeks from a 60th birthday) and 2 months short of 32 years, which would equal 92. Yeh, 3M is a dirty company. We were dedicated. We showed up for work!! We gave up many things in our personal life for 3M. 3M doesn’t care about people-only the $$$$. They deserve EVERYTHING they get coming at them. I’m embarrassed to say I EVER worked for that company. This is what they do to their LOYAL employees! Sell those fancy company jets also!! Of, unless of course, Roman needs those to fly! He’s beneath himself to drive. Mike, when you were a manager, back in the day, you were a “normal” human being. You ran this company to the ground!!! So EXTREMELY sad!!! I didn’t feel it at the time 2.5 years ago, but 3M did me a favor by letting me go!! I wouldn’t be able to handle the stress/bullsh-t they are doing now. All that is on the news of 3M is negative! Please DO NOT have 3M do the Golf Sponsorship out in Blaine this year. It’s hypocritical!!!
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Boring!
But yet you come back and write this 2.5 years after you’ve left. You’re so angry about 3M and you let it live rent free in your brain and your heart. As someone who’s been let go by 3M I know they forgot about me as soon I was let go. Why won’t you do the same? It’s never going to be the same. Move on. It’s not worth it. But it’ll probably just fall on your deaf ears. You’re too invested in it still 2.5 years later. They stopped then. They’re winning.
"92" is significant to those who are in the Portfolio I pension plan, as it makes them eligible for the Social Security bridge. To be eligible, an employee must:
- Be in Portfolio I
- Retire from 3M between ages 55 and 62 and
- Employee's age + pension service at the time of retirement must total at least 92 if born in 1960 or later. (If born between 1943 and 1959, age + service must total at least 91.)
If eligible and your High-4 Average is $50,000 or more, you get an extra $800 per month pension payment until you reach age 62 (basically, when you become eligible for Social Security benefits). If your High-4 is less than $50k, then you get less than the $800 per month (I think it's somewhere in the range of $550 to $700 per month if <$50k, but check the Summary Plan Description for the exact amount if you're in that situation).
I am on medical leave due to an injury caused by 3M. I doubt I can work again given my injury. I am scared about being laid off. I am not old enough to retire and do not have a spouse.
Varys,
I guess I got lucky by getting from 91 to 93 during the same year as the original poster but got cut later than year during one of the unofficial purges.
Anyone know how bad a hit one takes coming up a few numbers short. Is it say 5 ro 10 percent less or do you completely miss out on certain benefits like health care?
My guardian angel definitely looked down on me in 2021 to make it from 91 in January to 93 in September.
Thanks varys you are a shining light of goodness on this board!
A lot of portfolio one pension benefits are based on the sum of age and years of service, often called someone's 'numbers'. A number of 92 basically meant full pension and retirement benefits.
Greatly simplifying, but that is the gist of it.
Collapsing....it has collapsed quite a while back.
I’ve been wondering about volunteering to leave. Will someone be ballsy enough to ask this of Mike when we have our next bi---s live meeting?!
What is the significance of 92? Is that full pension or medical?
The madness you escaped is even more ominous and diabolical than when you left. HR is rejecting people who want to volunteer and then letting go people on paternity or medical leave.
Mike is our Nero!