tag:blogger.com,1999:blog-5936951073896589340.post1740828063426680853..comments2024-03-29T06:34:24.945-07:00Comments on LLNL - The True Story -: Adios PBGC?Unknownnoreply@blogger.comBlogger24125tag:blogger.com,1999:blog-5936951073896589340.post-67159902435799770552013-02-10T21:51:51.263-08:002013-02-10T21:51:51.263-08:00If the TCP1 pension were to go bankrupt Anastasio&...If the TCP1 pension were to go bankrupt Anastasio's pension would be made whole by his contract.<br /><br />February 10, 2013 at 8:58 PM<br /><br />Not just him. All "key personnel" of the new LLCs who were originally UC employees were protected in the same way. Just as Bechtel protected its personnel who went to the LLCs. At LANL, anyone above Division Leader who chose to side with the UC/Bechtel/LANS contract bid and throw their effort to winning that contract was so protected by the contract.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-68356849858785482122013-02-10T20:58:23.943-08:002013-02-10T20:58:23.943-08:00I agree, that's an opinion (a hypothetical sc...I agree, that's an opinion (a hypothetical scenario), but the conclusion that follows is also a fact:<br /><br />If the TCP1 pension were to go bankrupt Anastasio's pension would be made whole by his contract.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-45101848546515089072013-02-10T12:50:33.185-08:002013-02-10T12:50:33.185-08:00"When the LANS TCP1 pension goes bankrupt and..."When the LANS TCP1 pension goes bankrupt and collapses (and it will)"<br /><br />This is an opinion, not fact.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-83565863698860371422013-02-10T12:31:03.854-08:002013-02-10T12:31:03.854-08:00It's a fact that the pension protection for th...It's a fact that the pension protection for the director was in the contract. <br /><br />What are you questioning/disputing???Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-17842271279815830902013-02-10T11:33:53.710-08:002013-02-10T11:33:53.710-08:00What is sickening to watch is the way posters subm...What is sickening to watch is the way posters submit their opinions as fact. You can always tell where the motivation is coming from by the way someone posts, please keep that in mind and don't let it sway what you believe to be true.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-26730701434599802292013-02-06T22:38:05.079-08:002013-02-06T22:38:05.079-08:00When the LANS TCP1 pension goes bankrupt and colla...When the LANS TCP1 pension goes bankrupt and collapses (and it will), both Mike Anastasio and Charlie McMillian will be sitting fat & happy with no worries.<br /><br />The skullduggery that now goes on at the "for-profit" NNSA labs is sickening to watch.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-81755084596962384822013-02-06T13:23:54.698-08:002013-02-06T13:23:54.698-08:00Did he get a special pension deal?
February 6, 20... Did he get a special pension deal?<br /><br />February 6, 2013 at 10:14 AM<br /><br />Yes, it is in the LLNS contract, as it was for LANS and Mikey. See "Key Personnel."Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-50623091259087478002013-02-06T12:49:54.688-08:002013-02-06T12:49:54.688-08:00http://www.universityofcalifornia.edu/news/2006/sa...http://www.universityofcalifornia.edu/news/2006/salaries0606_lab.pdf<br /><br />"Following his service at LANS and when he retires, the purchase of an annuity (or buyback of UCRP service credit if appropriate) in the amount necessary to compensate for <br />the loss in pension benefits attributable to his actual period of service at LANS rather <br />than remaining under the UC Retirement Plan, to be calculated by appropriately offsetting the amount of employer contributions that he will have received in the LANS <br />market-based benefit package"<br /><br />This is in addition to all the bonus & perks ...<br />I believe GM got the same deal ...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-48309251672224780052013-02-06T10:14:30.138-08:002013-02-06T10:14:30.138-08:00"Nothing new ... Miller got a deal to "e..."Nothing new ... Miller got a deal to "extend" his UCRP pension (while the rest of us went to TCP1 or TCP2)."<br /><br /><br />Any way to verify this? If so, then it is a slap in the face at the hardworking employees at LANL who work under this weasel and his associated Frankenstein, hollow-shell corporation, LANS LLC. Did he get a special pension deal?<br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-43711768069337740842013-02-05T20:30:02.178-08:002013-02-05T20:30:02.178-08:00.. and more amazing, POTUS apparently believes the..... and more amazing, POTUS apparently believes the annual certification letters penned by these crooks and liars!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-29050066758349746572013-02-05T16:53:50.153-08:002013-02-05T16:53:50.153-08:00"What's clear: he's not in our pensio..."What's clear: he's not in our pension, could care less about our pension and us."<br /><br />Nothing new ... Miller got a deal to "extend" his UCRP pension (while the rest of us went to TCP1 or TCP2).Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-18376524127690273212013-02-05T11:41:41.254-08:002013-02-05T11:41:41.254-08:00Parney stuck all of us with the pension bill (7% p...Parney stuck all of us with the pension bill (7% post-tax = 10-14% true cost to you depending on your tax bracket).<br /><br />While he "gambled" with not making the LLNS $80m contribution to the pension.<br /><br />What's clear: he's not in our pension, could care less about our pension and us.<br /><br />This furlough is lining up to be yet another pension whack on both YOS and HAPC. In addition to the whack to take home pay.<br /><br />Let's face it, Parney's in it for himself (and for Bechtel to whatever extent it helps him).<br /><br />Truly a disappointment from all angles...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-14799787497298890542013-02-05T08:57:26.510-08:002013-02-05T08:57:26.510-08:00- Low Rates Force Companies to Pour Cash Into Pens...- Low Rates Force Companies to Pour Cash Into Pensions -<br /><br />WSJ – Mon, Feb 4, 2013 10:50 AM EST<br /><br />Ford Motor Co. (F) expects to spend $5 billion this year shoring up its pension funds, almost as much as the auto maker spent last year building plants, buying equipment and developing new cars.<br /><br />The nation's second-largest auto maker is one of a who's who of U.S. companies pouring cash into pension plans now being battered by record low interest rates. Verizon Communications Inc. (VZ) contributed $1.7 billion to its pension plan in the fourth quarter and—highlighting companies' sensitivity to this issue—Boeing Co. (BA) now reports "core earnings" to separate out pension expenses.<br /><br />"It is one of the top issues that companies are dealing with now," said Michael Moran, pension strategist at investment adviser Goldman Sachs Asset Management.<br /><br />The drain on corporate cash is a side effect of the U.S. monetary policy aimed at encouraging borrowing to stimulate the economy. Companies are required to calculate the present value of the future pension liabilities by using a so-called discount rate, based on corporate bond yields. As those rates fall, the liabilities rise.<br /><br />..............<br /><br />Funny, but I don't remember either LANS or LLNS "pouring money" from their corporate profit fees into our pensions? <br /><br />Then, again, Bechtel has no real love for the employees of the NNSA labs. They are just a means of making a quick buck while they rape the place.<br /><br /><br /><br /><br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-25327223562764028892013-02-05T00:49:29.734-08:002013-02-05T00:49:29.734-08:00Thanks for posting the info. Definitely will have...Thanks for posting the info. Definitely will have to look into it.<br /><br />Man, every where you look, things just keep getting worse...Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-69424110558818749302013-02-04T22:48:35.786-08:002013-02-04T22:48:35.786-08:00UC's "wonderful simplifying" equals ...UC's "wonderful simplifying" equals "dumbing down" and less choice.<br /><br />Don't you hate it when they cut your options and then try to sweetly sell it to you as an "improvement"?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-29280249467648732412013-02-04T21:36:43.657-08:002013-02-04T21:36:43.657-08:00Dated January 29th, it starts:
Important Changes ...Dated January 29th, it starts:<br /><br />Important Changes to the University of California 403(b), 457(b), and DC Plans Fund Menu<br /><br />At UC, we’re committed to providing opportunities that make it easier to choose and monitor your retirement investments. That’s why we’re simplifying the investment choices offered through the UC Retirement Savings Program—the UC 403(b), 457(b) and DC Plans.<br /><br />What’s Changing<br />The fund menu for the UC Retirement Savings Program currently offers over 200 investment options. With so many choices, selecting the right investment funds for your future can be time-consuming and confusing. To make it easier for you to choose and manage your investments, beginning in March 2013, the fund menu will be streamlined to include only UC Core Funds and a selected list of institutionally priced mutual funds.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-20086742353959625862013-02-04T14:42:15.895-08:002013-02-04T14:42:15.895-08:00"UC is going to dump most of the Fidelity fun..."UC is going to dump most of the Fidelity funds and force you into a UC Pathways"<br /><br />I'm in UC 403b and DCP and received no such emails! Please post text!<br /><br />thanksAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-80008254123832236732013-02-04T10:27:26.459-08:002013-02-04T10:27:26.459-08:00February 4, 2013 at 9:46 AM
How about posting the...February 4, 2013 at 9:46 AM<br /><br />How about posting the actual e-mail you got with an e-mail and ph contact information for all to read<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-64534420979778549972013-02-04T09:46:47.025-08:002013-02-04T09:46:47.025-08:00Anyone see the emails that recently came to lab em...Anyone see the emails that recently came to lab employees who are still in 403B and DCP from UC?<br /><br />Appears the UC is going to dump most of the Fidelity funds and force you into a UC Pathways "plain vanilla" fund by June unless you quickly get your money out of UC and into a Fidelity Brokerage link (which will greatly increase your mutual fund fees, of course).<br /><br />Wonderful. What's next from UC? They appear eager to dump off their long-term employees in multiple ways.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-41423634658487267252013-02-01T21:56:37.381-08:002013-02-01T21:56:37.381-08:00We have no representation on or visibility into ou...We have no representation on or visibility into our *own* pension. <br /><br />Which we're paying into!<br /><br />What is it invested in? We don't know.<br /><br />I don't understand how this is legal???<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-46686282359113588742013-02-01T17:58:53.649-08:002013-02-01T17:58:53.649-08:00I'll bet Parney never releases the TCP-1 pensi...I'll bet Parney never releases the TCP-1 pension status for 2012. The market was near an all time high, and TCP-1 should have been back up to 120% funded by my back of the envelope metric.<br /><br />Need a employee on the pension committee. Somethink is rotten.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-66638507536595548422013-02-01T07:08:51.705-08:002013-02-01T07:08:51.705-08:00You asked for it.
Oh what the hell. Lets just rai...You asked for it.<br /><br />Oh what the hell. Lets just raise the employees contributions to 15% and increase that by 5% a year for the next four years. I wonder if TCP-1 is going to hell because Parney did not fund the $80M + he was supposed to gambling the economy was going to get better until Obama's reign. NOT! and it will not as long as you have santa clause funding those who don't work or say, "you owes me". Regardless, it was a bad gamble Parney and now you're all going to suffer for it. You should have put the money in the retirement plan instead of using it for experiments.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-84817750702168381702013-01-31T20:13:28.851-08:002013-01-31T20:13:28.851-08:00Please queue up the TCP-1 vs. TCP-2 rhetoric. It&#...Please queue up the TCP-1 vs. TCP-2 rhetoric. It's been so long it has almost faded to silence.<br />Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-5936951073896589340.post-72313456982165729432013-01-31T18:33:41.721-08:002013-01-31T18:33:41.721-08:00Another doomsday caller.
We are not even able to p...Another doomsday caller.<br />We are not even able to predict what the loonies in congress will do over a time span of two month and you are concerned with 20 years. Get a grip, if you want to worry, worry about March 1st.Anonymousnoreply@blogger.com