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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This report doesn't reflect the final budget picture. It shows the RRW funding at 80 million plus. Funding for the RRW has been canceled.
That could only mean one thing.
There will be more than 900 people out the door by April of 2008, you can bank on it. What amazes me more than anything is, why and how did ULM become RIF exempt.
That's 17 pages of overpaid pukes that are cutting you throats and getting paid more for doing it and none of them are getting axed.
I guess that manament for you.