I just received my annual TCP-1 letter from LLNS and a summary of the LLNS Pension Plan. Looked in pretty good shape in 2013. About 35% overfunded (funding target attainment percentage = 134.92%). This was a decrease from 2012 where it was 51% overfunded (funding target attainment percentage = 151.59%). They did note that the 2012 change in the law on how liabilities are calculated using interest rates improved the plan's position. Without the change the funding target attainment percentages would have been 118% (2012) and 105% (2013). 2013 assets = $2,057,866,902 2013 liabilities = $1,525,162,784 vs 2012 assets = $1,844,924,947 2012 liabilities = $1,217,043,150 It was also noted that a slightly different calculation method ("fair market value") designed to show a clearer picture of the plan' status as December 31, 2013 had; Assets = $2,403,098,433 Liabilities = $2,068,984,256 Funding ratio = 116.15% Its a closed plan with 3,781 participants. Of that number, 3,151 wer...
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LANL Report:
In the most recent review of the lab’s performance, dated Dec. 6, the NNSA slashed the performance bonus paid to the lab’s managers, arguing they had failed to meet the agency’s requirements for “ahead of schedule performance” on the project, which the lab had said earlier would be operational by 2011.
It is partially occupied, but equipment installation for the laboratory space is ongoing. The lab’s management team, led by corporate giant Bechtel and the University of California, had claimed it was entitled to a $700,000 performance bonus for its work on the office building and lab, but NNSA only agreed to $176,000.
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Gotta love watching the Bechtel pigs at the top of the LLC's "for-profit" management chain secretly fighting for their executive bonus loot while the hard working employees who do the hard lifting to met these PBIs get.... NOTHING!!!!
I see LDRD gets a negative ranking. What for it did not say.
If NNSA thought they could kill it off, they would do so immediately. They may try again to end it at some later date.
People seem to be expressing themselves fine enough. Not like this blog has stalled like the already-moribund LANL VSP blog.
April 6, 2012 8:28 PM
This is the LANL Blog. We thought we would move in just like Anastasio, McMillan, and King Knapp moved into our house. Thanks for the accommodations, the pajamas, robe, newspaper, couch, dog, bed, and Blog are great!
How is not fair process? I thought the AD's pick what they want. The rest is competed with like a 8% success rate.
10:34 AM seems a little early to be drunk but that is your choice.
April 7, 2012 7:03 PM
Really?? Did you absolutely have to include that last part?? You are what's wrong with our society. Can't disagree without being disagreeable. Sad.
Imagine the CEO of Intel coming out saying, "We make excellent processors. I'm real pleased with that. But why again are we wasting all this money on chip design?"