3M to Freeze Pension Plans in 2028: Will Other Companies Follow Suit?

The conglomerate announced its plan to halt pensions for non-union workers shortly after IBM's announcement that it will resurrect defined-benefit plans.

By Kristen Beckman | January 16, 2024 at 10:06 AM

Manufacturing conglomerate 3M announced it will freeze its U.S. pension plans for non-union employees in the United States at the end of 2028. The firm said the move is part of its long-term plan to transition from a pension plan structure to a 401(k) retirement plan structure.

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