2016-11-11T15:15:34-06:00 2015-12-31 410746749 CLIFTONLARSONALLEN LLP 220 SOUTH SIXTH STREET SUITE 300 MINNEAPOLIS MN 55402 990 2015-01-01 411294448 3M EMPLOYEES WELFARE BENEFITS ASSOCIATION TRUST I 3MEM 6517368146 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 KIMBERLY M TORSETH ASST. TREASURER 6517368146 2016-11-09 1 KAREN GRIES P00078514 6123764500 2015 2017-02-10 21:41:12Z JANICE K ANGELL 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 98514928 0 X N/A X 1976 MA FINANCE HEALTH CARE BENEFITS PROVIDED TO RETIRED 3M EMPLOYEES 3 3 0 7 75169519 71865838 0 0 30409259 15192747 73559171 84649309 -4815209 -1327128 99153221 98514928 0 0 128318992 102894108 71323 75770 0 0 0 25153592 3036811 153543907 106006689 -54390686 -7491761 900299035 806345897 110613091 94779411 789685944 711566486 N/A 0 0 FINANCE HEALTH CARE BENEFITS PROVIDED TO RETIRED 3M EMPLOYEES 0 0 0 0 0 0 0 0 0 0 1 0 0 1 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 1 0 0 0 1 1 1 BE 0 0 0 0 X 3 3 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 X JED LARKIN 6517337377 3M CENTER BUILDING 224-5S-26 ST PAUL MN 55144 MATTHEW J GINTER DIRECTOR 1.00 2.00 X 0 0 0 GREGG M LARSON DIRECTOR 1.00 2.00 X 0 0 0 MARLENE M MCGRATH DIRECTOR 1.00 2.00 X 0 0 0 THE BANK OF NEW YORK MELLON TRUSTEE 1.00 2.00 X 75770 0 0 MICHAEL A ANDERSON PRESIDENT 1.00 2.00 X 0 0 0 DAVID J OVERSTREET SECRETARY 1.00 2.00 X 0 0 0 DENNIS P DUERST TREASURER 1.00 2.00 X 0 0 0 KIMBERLY M TORSETH ASST. TREASURER 1.00 2.00 X 0 0 0 75770 0 0 0 0 0 0 HEWITT 45 SOUTH 7TH STREET SUITE 2100 MINNEAPOLIS MN 55402 RECORDKEEPING SERVICES 1281803 BLUE CROSS BLUE SHIELD 3535 BLUE CROSS ROAD EAGAN MN 551221154 PROCESS MEDICAL CLAIMS 751151 NORTHERN TRUST 50 SOUTH LASALLE STREET CHICAGO IL 60603 INVESTMENT MANAGER 711340 DELTA DENTAL 3560 DELTA DENTAL DRIVE EAGAN MN 551223166 PROCESS DENTAL CLAIMS 510811 4 MEMBER CONTRIBUTIONS 900099 13910779 13910779 OTHER CONTRIBUTIONS 900099 1281968 1281968 15192747 19714066 11406542 8307524 64935243 0 64935243 64935243 63762977 1172266 PARTNERSHIP INCOME 900001 -1327128 -1327128 -1327128 98514928 15192747 75169519 8152662 102894108 75770 66778 869491 1383020 ADMIN. EXPENSES 1163136 OTHER 400540 UBI TAXES -846154 106006689 118899 0 6496 3248 627320241 563484794 247887199 231724479 24966200 11133376 900299035 806345897 8612143 2592114 102000948 92187297 110613091 94779411 X 0 0 0 0 789685944 711566486 789685944 711566486 900299035 806345897 -7491761 -70627697 0 X 0 1 X 1 0 0 PARTNERSHIP/JOINT VENTURE 41560779 F POOLED SEPARATE ACCOUNT 21719003 F 103-12 INVESTMENT 46912 F OTHER INVESTMENTS 168397785 F 231724479 UBIT PAYABLE 71797967 COLLATERAL FOR SECURITIES LOANED 20389330 92187297 X PART X, LINE 2: THE COMPONENT OF TRUST I NOT SUBJECT TO COLLECTIVE BARGAINING AGREEMENTS CONSTITUTES A QUALIFIED VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION UNDER SECTION 501(C)(9) OF THE INTERNAL REVENUE CODE (IRC) AND IS, THEREFORE, CONSIDERED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(A), EXCEPT FOR ANY UNRELATED BUSINESS INCOME. SUCH UNRELATED BUSINESS INCOME ESSENTIALLY CONSISTS OF INVESTMENT INCOME AND IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES BASED UPON THE CHARACTER OF THE INCOME TAXED (CAPITAL VERSUS ORDINARY). THE PLAN FILES UNRELATED BUSINESS INCOME TAX (UBIT) RETURNS IN THE U.S. FEDERAL JURISDICTION. THE PLAN IS CURRENTLY UNDER EXAMINATION BY THE IRS FOR ITS U. S. FEDERAL INCOME TAX RETURN FOR THE YEARS 2008, 2009 AND 2010. THE COMPONENT OF TRUST I SUBJECT TO COLLECTIVE BARGAINING AGREEMENTS AND TRUST III CONSTITUTE A QUALIFIED VOLUNTARY EMPLOYEE BENEFIT ASSOCIATION UNDER SECTION 501(C)(9) OF THE IRC AND ARE, THEREFORE, CONSIDERED TO BE EXEMPT FROM FEDERAL INCOME TAXES UNDER PROVISIONS OF SECTION 501(A). TRUST I AND TRUST III OBTAINED THEIR LATEST DETERMINATION LETTERS ON JUNE 22, 1977 AND NOVEMBER 22, 1993, RESPECTIVELY, IN WHICH THE INTERNAL REVENUE SERVICE (IRS) STATED THAT TRUST I AND TRUST III, AS THEN DESIGNED, WERE IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. TRUST I AND TRUST III HAVE BEEN AMENDED SINCE RECEIVING DETERMINATION LETTERS. HOWEVER, TRUST I AND TRUST III'S ADMINISTRATOR BELIEVES THAT THE PLAN AND TRUSTS ARE CURRENTLY DESIGNED AND BEING OPERATED IN COMPLIANCE WITH THE APPLICABLE REQUIREMENTS OF THE IRC. ACCOUNTING PRINCIPLES GENERALLY ACCEPTED IN THE UNITED STATES OF AMERICA REQUIRE PLAN MANAGEMENT TO EVALUATE TAX POSITIONS TAKEN BY THE PLAN AND RECOGNIZE A TAX LIABILITY (OR ASSET) IF THE PLAN HAS TAKEN AN UNCERTAIN POSITION THAT MORE LIKELY THAN NOT WOULD NOT BE SUSTAINED UPON EXAMINATION BY THE IRS. THE PLAN ADMINISTRATOR HAS ANALYZED THE TAX POSITIONS OF THE PLAN AND HAS CONCLUDED THAT AS OF DECEMBER 31, 2015, THERE IS ONLY ONE UNCERTAIN POSITION TAKEN OR EXPECTED TO BE TAKEN THAT WOULD REQUIRE RECOGNITION OF A LIABILITY AND DISCLOSURE IN THE FINANCIAL STATEMENTS. THIS POSITION RELATES TO THE "SET ASIDE". THE IRC PROVIDES THAT PASSIVE INCOME CAN BE "SET ASIDE" IF IT IS USED FOR THE PURPOSE OF THE PAYMENT OF BENEFITS OR FOR ADMINISTRATIVE COSTS RELATED TO SUCH PURPOSE. THE PLAN ADMINISTRATOR BELIEVES THE PASSIVE INCOME USED TO PAY CLAIMS INCURRED BUT NOT REPORTED CAN BE "SET ASIDE." THE PLAN RECOGNIZES INTEREST AND PENALTIES ACCRUED RELATED TO UNRECOGNIZED TAX BENEFITS IN TAX EXPENSE. THE AMOUNT OF INTEREST AND PENALTIES RECOGNIZED MAY BE AN EXPENSE OR BENEFIT DUE TO NEW OR REMEASURED UNRECOGNIZED TAX BENEFIT ACCRUALS. AT DECEMBER 31, 2015, THERE ARE NO ACCRUED INTEREST AND PENALTIES RECORDED FOR THIS ISSUE. INVESTMENT INCOME FROM THE COMPONENT OF TRUST I RELATED TO PARTICIPANTS NOT SUBJECT TO COLLECTIVE BARGAINING AGREEMENTS, AS DEFINED BY THE IRC, IS SUBJECT TO UNRELATED BUSINESS INCOME TAXES (UBIT). THE INCOME TAXES RECEIVABLE AT DECEMBER 31, 2015 AND 2014, IN THE PLAN'S STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS RESULTS FROM TAX PAYMENTS EXCEEDING THE ACTUAL AMOUNT OF TAX LIABILITY AS OF THAT DATE. THE FUTURE TAX CONSEQUENCE ATTRIBUTED TO UNREALIZED INVESTMENT INCOME (OR LOSSES) IS REFLECTED AS A NET DEFERRED UBIT TAX LIABILITY OR A NET DEFERRED UBIT TAX ASSET IN THE PLAN'S STATEMENTS OF NET ASSETS AVAILABLE FOR BENEFITS AS THE NET TAXES ARE NOT PAYABLE OR RECEIVABLE UNTIL THE INVESTMENT INCOME OR LOSS IS REALIZED. THE COMPONENT OF TRUST I SUBJECT TO COLLECTIVE BARGAINING AGREEMENTS AND TRUST III ARE NOT SUBJECT TO UBIT. FORM 990, PART VI, SECTION A, LINE 8B THE TRUST DOES NOT HAVE ANY COMMITTEES AUTHORIZED TO ACT ON BEHALF OF THE GOVERNING BODY. FORM 990, PART VI, SECTION B, LINE 11 THE RETURN IS REVIEWED BY INDIVIDUALS WITHIN THE 3M COMPANY TAX DEPARTMENT PRIOR TO FILING. FORM 990, PART VI, SECTION C, LINE 19 GOVERNING DOCUMENTATION AND FINANCIAL STATEMENTS ARE NOT LEGALLY REQUIRED TO BE DISCLOSED TO THE PUBLIC AND THEREFORE ARE NOT MADE AVAILABLE. THE TRUST DOES NOT HAVE A CONFLICT OF INTEREST POLICY. 3M EMPLOYEES WELFARE BENEFITS ASSOCIATION TRUST II 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 363604792 FINANCE MEDICAL, DENTAL, & L-T DISABILITY BENEFITS TO CURRENT 3M EMPLOYEES MA 501(C)(9) N/A N/A 0 3M EMPLOYEES WELFARE BENEFITS ASSOCIATION TRUST III 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 411746690 FINANCE LIFE INSURANCE BENEFITS TO RETIRED 3M EMPLOYEES MA 501(C)(9) N/A N/A 0 3M EMPLOYEES WELFARE BENEFITS ASSOCIATION 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 411414203 FINANCE LIFE INSURANCE BENEFITS TO CURRENT 3M EMPLOYEES MA 501(C)(9) N/A N/A 0 3M COMPANY 3M CENTER BUILDING 224-5N-40 ST PAUL MN 55144 410417775 MANUFACTURING MN N/A C 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 1 0 1