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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 jlscoob5@gmail.com

Tuesday, November 29, 2016

At a minimum, it's UNETHICAL

At a  minimum, it's UNETHICAL

So, LLNS has announced it will not be contributing to TCP-1 this year - that money will be used for infrastructure . . . REALLY?

Here is some information from previously published documents from LLNS

From the LLNS "Annual Funding Notice" - Dated April 2016

How the Pension Plan is Funded: LLNS and active plan participants contribute to the pension trust.. . . In general, contributions from LLNS are required if the assets in the trust are less than the current value of pension benefits.

From "FAQa for Contributions to LLNS Defined Benefit Plan - April 12, 2012

What happens when interest rates increase and the Defined Benefit Plan becomes well over funded?

A. The amount of future contributions will depend on many factors including future asset performance. As interest rates increase and assets grow through earnings and contributions, the plan will become better funded. Once the plan has enough assets to pay all future pension obligations, both employee and LLNS contributions will cease.


From the "LLNS Defined Benefit Plan Contribution Briefing" - Dated May 2 & 3, 2012

When will employee contributions end?

Contributions must continue until the plan has sufficient assets to pay all future pension obligations. We expect contributions to continue for the foreseeable future.

There is no statutory requirement to determine employee contributions. LLNS is implementing an employee contribution level of 5 percent, which is the amount active UC employees will be contributing to the UCRP effective July 1, 2012.

All this being said, why are employees still contributing 7% (AFTER TAXES) and the employer contributing ZERO?
November 28, 2016 at 1:56 PM
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Anonymous Anonymous said...

All this being said, why are employees still contributing 7% (AFTER TAXES) and the employer contributing ZERO?

November 28, 2016 at 1:56 PM

It may be unethical but it is legal and as you know LLNL is now a "for profit" entity. You know live in the real world and will be treated by real world standards just like everyone else. The days of being special are long over, get used to it.

5 comments:

Anonymous said...

Essentially DOE has dumped the future funding of TCP-1 100% on its participants. Meantime TCP-2 folks get a retirement contibution and generous 401k matching worth 10% of salary. While TCP-1 folks pay 7%. Thats a 17% differnce in compensation.

Seems like fraud to me.

Anonymous said...

A Trumpf supporter ought to dope slap some sense into Goldschmidt.

Anonymous said...

Hey Billy boy. Drop the revanchist crap and FOCUS.

Get the jackasses at Forrestal to contribute their agreed on portionot TCP-1.

F**k diversity and inclusion and safe spaces. Force the diverse pikers to pay up.

That's leadership. Buddy.

Anonymous said...

They fuck you through the drive through!!!

Anonymous said...

TCP2 bashers, lets not forget, you will receive benefits upon retirement. We will not.

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