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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If we are going to compete, we need to cut another 1500 or so, including unneeded managers, deputies, assistants, etc. Then we need to get rid of the 100 LSO bureaucrats who add only negative value to our work.
It is much more likely he was on unpaid leave of absence for at least the majority of this period. That is not so unusual. Schools are typically happy to see someone from their faculty go out for awhile and hold a position of national visibility."
However, as a "key personnel" identified in the current contract, he had to sign a two year commitment to remain in the LLNL position - apparently he didn't take that commitment seriously. The commitment carries the potential for penalties if not met, both for him personally and for he laboratory. Seems a number of the key personnel that signed such commitments didn't take them seriously.
However, there is reason to believe that in this case LLNS had a motive. By using him in the proposal, LLNS was able to claim someone with experience in key Lab programs. (Remember, he had been a Lab employee before.) Now he can leave, and be replaced by a Rechtel engineer.