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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I guess these people never heard about working on multiple projects at the same time.
The entire theme of bringing our cost down so we can get WFO ( work for others) is a joke. There is no cost savings simple because the price to do business is just that, a defined cost per employee, just as the cost for a home can go no lower than the cost of materials, land and labor. Oh and for those who are hoping to buy more of a home for less in the future. Think again. As the mortgage interest rates approaches the projected 11% level as planned, the less house you will be able to afford for the same money leaving you with a huge payment for a house half the size you thought you were going to get.
Nothing is for nothing.