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3M's $19.7B Pension Plan Under DOL Investigation
Bloomberg BNA
May 5, 2017
"3M Co. announced that its $19.7 billion pension plan is under investigation by the Labor Department. The investigation, which began in April 2015, is related to certain private equity investments, plan expenses, securities lending and distributions of plan benefits ... 3M's pension plan is fully funded, and it currently doesn't have a minimum required contribution. In the past three months, 3M contributed $247 million to its U.S. and international plans and expects to contribute approximately $300 million to $500 million more in 2017[.]"
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