Thursday, September 26, 2013
NNSA Requests Another $55.9M For LANL, LLNL Retiree Pension Payment
NNSA Requests Another $55.9M For LANL, LLNL Retiree Pension Payment
The National Nuclear Security Administration needs an extra $55.9 million to make a paymen tto the University of California Retirement Plan, according to a reprogramming request submitted to Congress Tuesday. The reprogramming request was coupled with an appeal to reprogram another $2.5 million to finish designing Los Alamos National Laboratory’s Low Level Waste building, a key part of the lab’s Radioactive Liquid Waste Treatment Facility (RLWTF) project that the Department of Energy said would have to be shut down without the extra funds. The additional money for Los Alamos and Lawrence Livermore National Laboratory retiree pensions is on top of $22.8 million DOE already requested as part of a nonproliferation reprogramming request in August. The agency said the funds are needed because recently
approved changes to the University of California’s defined benefit pension plan increased assumptions on how long people will live and sequestration reduced the available funding for the payment. According to a letter from DOE Deputy Chief Financial Officer Alison Doone, a variety of sources will cover the reprogramming, including the completion of projects under budget, unearned contractor fee, and funding that was set aside for work that did not come about, including $3.4 million from the cancellation of the Secure Transportation Asset Agent Candidate Training
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5 comments:
Remember, NNSA is contracturally obligated to do this for LLNL employees who retired from the UC system at transition. They have no such obligation to LLNS pension plan.
I guess they'll just have to take it out of the $2.1B LLNL gets to operate on and implement another SSVSP or RIF shortly. They still have until Dec 24th to get it done. Maybe another 700 employees to go and we can balance the 2014 budget?
10:34, NNSA does indeed have a legal obligation to the LLNS pension plan, it has been posted at least a few times. Some choose to ignore it, but if you research it, it's there.
Please dear god sight your sources when you post articles from other news sources!!!!
This was the information supplied by LLNL before the transition:
LLNS is legally required to make the necessary contributions to the plan and would be reimbursed for those contributions under the contract between LLNS and the National Nuclear Security Administration (NNSA), which is a part of the United States Government under the Department of Energy. NNSA is contractually obligated to reimburse the pension costs under the contract. NNSA's contract with LLNS also requires that at the end of the LLNS contract, the responsibility for the pension plan be transferred to the entity which is awarded the follow-on contract with NNSA or, if there is no such entity, the contract be extended with LLNS so the payment of the costs of continuing the benefits can be made by NNSA. NNSA thus has an ongoing obligation to reimburse the allowable TCP1 pension plan costs in the future.
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