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 was the only one there with the intention of talking about the RIF. I asked a few people if they were there because of the invitation from the BLOG and they said "no".
Draw your own conclusion.
People are tired and waiting for their pink slips. They just want this over with now, for good. I am sure many know this is coming again next year and another 2000 employees will be out the gate due to budget cuts reducing the head count down to 4000 even. Someone like myself wish ULM would just cut the 50% on the 22nd of this month and be done with it. How people can continue to work in this type of environment safely and effectively is beyond me. I know there's people who say, "the lab isn't dead", but I surely don't see any promise in it's future existence.
Sure, if someone told scooby I'll bet it would show right up at the top however if you've been watching only about 200 or so people actually read this blog and participate. That's 200 out of 6,500 people. Not a good turn out on the blog nether.