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...
Comments
- Bechtel projects in New Orleans after Katrina
- Bechtel sloppy work on the Boston tunnel
- Bechtel blotted costs in Iraq
You think DOE/NNSA cares about understated costs?
The LLNS contract is a joke and DOE
will not care about understated costs or mismanagement.
LLNS is what DOE wants and LLNS is here to stay!
http://deal-with-it.org/diamonds/bechtel.htm
This would make DOE and NNSA a bunch of idiots but then again when it's all about making money to line their retirement nesteggs and to satisfy corporate america's greed what would one expect.
The nice thing about the lab of the futuer is that jobs will be easy, meaningless clock watchers that people don't care about.
With odius high achievers gone where they can have an impact; those of us tired, infirm or derelict can finally have some peace and quiet.
Instead of going home drained; after a day of rest, you will be ready for a healthy, productive evening.
Imagine what a pleasure it will be with slave drivers off bothering folks who care.
Who cares about costs, lets hope our little Eden of the future lasts.