I received from LLNS my TCP1 (Defined Benefit Pension) summary notice as required by the Pension Protection Act of 2006. Since the plan has only been around for a year and half there's limited information and its from Jan 1, 2008. As of that date there were 3927 in the plan - 3915 active and 12 retired/separated but not getting benefits yet. Based on what was in the "Funding Target Attainment Percentage" table the plan was at 209.62% of its funding target - $1.65 Billion in assets and $790 Million in liabilities. 109% more than what is required to pay lifetime pensions to all the participants in TCP1.
There was another section in the summary text called "Fair Market Value of Assets" and it was said to offer a "clearer picture of a plan's funded status as of a given point in time." This was as of Dec 31, 2008 - $1.3 Billion in assets and $882 Million in liabilities. My calculation puts TCP1 at 147.91% of necessary funding or 47% overfunded.
Am I understanding this information correctly? how does this compare to current UCRP numbers?
May 4, 2009 6:59 AM
This BLOG is for LLNL present and past employees, friends of LLNL and anyone impacted by the privatization of the Lab to express their opinions and expose the waste, wrongdoing and any kind of injustice against employees and taxpayers by LLNS/DOE/NNSA. The opinions stated are personal opinions. Therefore, The BLOG author may or may not agree with them before making the decision to post them. Comments not conforming to BLOG rules are deleted. Blog author serves as a moderator. For new topics or suggestions, email firstname.lastname@example.org
- ► 2017 (337)
- ► 2016 (295)
- ► 2015 (330)
- ► 2014 (309)
- ► 2013 (431)
- ► 2012 (258)
- ► 2011 (162)
- ► 2010 (157)
- Age discrimination lawsuit
- Kiss your retirement good bye!
- One year after the layoff...
- NIF dedication theme song
- Good old boys' culture still alive and well
- Wake up everybody!
- When will managers be promoted based on competency...
- New Security?
- Lab Morale Hits Bottom
- Expired Hand Sanitizer!
- Lab Make Over
- Would you recommend LLNL as an employer now?
- Yet more training.
- The proposed LLNL 2010 budget is down 7 million
- A post on the LANL blog
- NIF is dumping people
- Complete the UPTE-CWA health and safety survey tod...
- "US unemployment rate" chart looks parabolic
- I received from LLNS my TCP1 (Defined Benefit Pens...
- Is the Energy Department Ready to Reboot the Count...
- Kaiser co payment now double or triple!
- ▼ May (21)
- ► 2008 (374)