Employer contributions to TCP-1.
The following appeared in Newsline today. Are the facts correct? I thought LLNS committed to make the contributions, but never actually made a portion of them.
"Because of this reality, LLNS requested and obtained permission from DOE/NNSA to make a series of employer contributions to the plan beginning in 2012. These contributions, though not legally required by ERISA at the time, were made to ensure the long-term health of the plan and avoid otherwise mandatory (and potentially much larger) contributions in the future, at a time when many more active employees transition to retirement. The Laboratory made a $20 million contribution in 2012, a $40 million contribution in FY13 and received permission from DOE/NNSA to make a $20 million contribution this fiscal year. LLNS will continue to request permission from DOE/NNSA for additional employer contributions as prudent over the coming years. The size and timing of the employer contributions are determined in consultation with Laboratory senior management, the plan actuaries and DOE/NNSA, based on projections of the future funded status of the plan, congressional direction, interest rates, the performance and risks of the investment markets and impacts to the Laboratory's annual operating budget with implications for programs, level of staffing and infrastructure."
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 email@example.com
Suggest new topics here
Submit candidates for new topics here only. Stay on topic with National Labs' related issues. All submissions are screened first for ...
Posts you viewed tbe most last 30 days
Apparently there are more problems at Sandia Labs: https://TheSandiaTreatment.com
The Triad chip is coming? There is talk that LANL, LLNL and NNSA in general will be part of a "body chip program". It will make ge...