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DEFINED BENEFIT

3M plans pension contribution of up to $500 million

3M

3M Co., St. Paul, Minn., plans to contribute between $300 million and $500 million in cash to its global defined benefit plans in 2017, the company announced in its 10-K filing Thursday.

In 2016, 3M contributed $380 million to its global plans. Breakouts of the 2016 contributions and the planned 2017 contributions were not immediately available.

As of Dec. 31, 3M’s U.S. DB qualified and non-qualified assets totaled $14.1 billion and projected benefited obligations, $16.2 billion, for a funding ratio of 87%. As of the same date, non-U.S. DB assets totaled $14 billion and projected benefit obligations, $15.9 billion, for a funding ratio of 88.1%.

A 3M spokeswoman could not immediately be reached for additional information.