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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Q: Currently, when an assignment ends for an employee, they are moved to the EBA (employee's between assignments) list and required to spend their time finding a new job. In addition they receive assistance from their management in finding a new assignment. With the cost, both dollars and time, of investigations to secure Q and other clearances, it does not necessarily make sense to eliminate this type of effort. Will there be something equivalent with LLNS?
A: The current LLNL process will not be eliminated. LLNS does not plan to change the current flex term management policy.
Why the sudden change. Because now we have a bunch of scientist and engineers on the EBA list. Sond like RIF material to me within, 24 hours.
Question Id#2486 published on 7/13/2007 12:46:30 PM
Q: Strong rumor going around. We are hearing that there is going to be a RIF of 10% of the work force before Oct 1st. Mostly contract labor, post doc's and term employee's. True or False and if so again what are the facts?
A: False. LLNS has no such plans. In addition, George Miller stated in his Town Hall on May 30th that he has no plans for layoffs or outsourcing.
How about a contest. Lets look through all of these questions by doing a search and see how many lies we can find that LLNS told the folks in order to get their UCRP pension into their bank account. May the thrashing begin.
Question Id#1684 published on 8/25/2007 7:40:15 PM
Q: Since no new hires may enter TCP1, how does LLNS prevent the early retirees from draining the fund before the later retirees can retire?
A: We suggest you read Barbara Peterson's excellent column in the August 24 edition of Newsline. We believe her column covers the issues that the LLNL employees are most concerned with. Thank you for your patience in awaiting a response.
This response should have truned on some light bulbs but I can see only 49% of LLNL was awake. Snoore
Q: If LLNS decides to use length of service as a factor in its layoff policy, will UCRP service credit be counted toward years of service for both TCP1 and TCP2 employees?
A: Accrued UCRP service credit is counted for both TCP1 and TCP2. Please review the "Benefits Briefing Handout" from the employee benefits breifings that is posted on the LLNS website under Benefits for details. The slides from the employee briefings also contain years of service credit details that you will also find helpful.
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