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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ASSOCIATED PRESS
Article Launched: 05/21/2008 06:42:12 PM PDT
Lawrence Livermore National Laboratory is laying off hundreds of workers.
The lab will give pink slips tomorrow to 330 career employees, and another 110 on Friday.
More than a third of those being laid off are scientists and engineers at the lab, which conducts nuclear weapons research and other national security and scientific work.
Lab spokeswoman Susan Houghton says Lawrence Livermore is working as hard as possible to place the laid-off workers in new jobs. The lab has identified more than 1,000 possible private-sector jobs that the laid-off workers might apply for.
The lab's work force was about 8,000 just two and a half years ago, but has been reduced by some 1,800 through attrition, retirements and layoff.
..the Pimp watching the Whore House.