I understand the lawyers for the veterans are now sending letters warning 3M pensioners not to spend their lump sum payments because the 'heroes' are 'entitled' to their compensation!!
Needless to say we are all freaked out getting these letters.
My lawyer said they will probably be filing lawsuits against all 3M pension recipients.
These veterans are serious. And I don't have the money to fight!
How did the Monday call go with the lawyers ?
Damn, this topic is full of bullsh-t.
First, there is no way that pensions of non-executive employees are in any legal risk on this. As was accurately stated, the pension as funded today is legally isolated. Also once a person takes their lump sum the money is theirs, it is no longer attached to 3m in any way. The lawyers would have to penetrate 3M and get a suit against each pensioner individually to even attempt to get that money back. They would have to prove a lot on an individual employee basis to even have a chance at getting that money.
That said, future contributions from 3m to the pension fund are at risk. But the money already there is pretty damn well safe.
I think these letters are lies, I don't see any competent lawyer sending one. If they are being sent, I would expect media attention as it would be an unprecedented legal threat to rank and file workers on very shaky ground.
If someone wants to prove me wrong, post a copy of this letter with the employee's name and address redacted.
The shitposting here is TRULY incredible. I love it. These plaintiff lawyers and money grabbers are giving the best of Reddit a run for their morney. Keep ‘em coming you d-mbfucks.
My lawyer recommended 8 out my house on the market now in order to prepare for the worst. I got the letter Friday and have a call with them on Monday. I am mentally preparing to lose everything I ever made at 3M - lawyer says the oenison is gone for sure. My wife is truly distraught. I do t think we will be able to survive after we lost the house and all our income except social security. But the veterans have all the power as 3M has lost every legal fight so far. So I have to respect that I suppose. Sorry to ramble it is hard coming to terms with losing everything I worked my whole life to earn.
Don't panic over lawyers. There are a lot of bottom feeders out there. Realistically stick to two good types: one that knows the judge well, and the other that knows law and all the loopholes. I tend to choose the first type.
Not all veterans are hero’s, sorry to say. The majority of enlisted military never see action, they move boxes from A to B to A again just to stay busy. My guess is many of these “inflicted” are the same entitled chumps that demand free Denny’s for life.
OP and first four posts drafted by some money grubbing bottom tier firm lawyer. Fake news.
This is a scare tactic used by bottom dwelling attorneys to try and create mutiny within 3M employee and retiree hierarchy. Ignore it.
Go ahead and spend your pensions. Only a Court judgement can restrict you from touching it. These lawyers should be sued for even sending notices like that. Just another form of terorism If by some miracle the Courts allowed them later to raid your pension (most likely won't), it will take years for them to sort out what is left and determine how much veterans are entitled to.
When people become veterans, they take the chance that there may be a bleak future ahead. These people should go to college first and then become veterans if they still want to. Being a veteran should not mean you get a free ride at others' expense for the rest of your lives. If that is the case, then what's the point of going to school? Just be a veteran - right?
Veterans were ready to give their life at the war but can’t afford a hearing loss. Taking hostage of 90000 employees. Where is your protect and serve?
The legal system in America is not the problem; faulty ear plugs are the problem.
The legal system in America is not the problem; contaminating drinking water using forever chemicals is the problem.
We have liability laws in this country for a reason. If you fail to protect the public or trample on villages throughout the world by poisoning their drinking water, you have to pay a price. And a price will indeed be paid. We are a nation of laws!
Have you ever heard of the pension benefit guarantee corp? That is who takes over a bankrupt company's pension. We veterans absolutely have a claim on 3M pension funds as our judges and juries force the company into bankruptcy. And I promise you We Will FIGHT TO THE END TO GET YOUR PENSIONS and Other assets Including your houses! You messed with HEROES.
Look at this comment from this website ===> https://www.investopedia.com/4-major-pension-problems-and-the-laws-that-protect-you-4692864
"A company’s pension finances are separate from its own finances. That means a company can be bankrupt but still have an adequately funded pension, or it can be doing great and have an underfunded pension. This separation also means that creditors can’t claim a bankrupt company’s pension assets."
Fake news!
I got one of these letters. Until this is settled I am going to set aside my pension just to be sure I have the money if I have to give it to the victims and their lawyers. Luckily I can survive on my wife's pension and social security but it will be tough for others I am sure.
Stupid and will never happen.
Do you think they will try to take our houses? My family is terrified!!
Ridiculous. Do they think they are entitled to our paychecks too?
Get ready to fight in court to keep your pension! These 'victims' and the legal system are going to take it from you. I literally cannot afford to hire lawyers.
Outrageous! I'm an 1980s hire and now retiree. FU to anyone who hasn't lived through 35 years of work in factories and wants our pensions. Fix the damn legal system in America