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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http://www.lamonitor.com/cgi-bin/storyviewnew.cgi?075+News.2008626-2712-075-075007.Full+News
Of special interest to LLNL folk is the following text
He noted that the bill adds $87 million to Lawrence Livermore National Laboratory’s National Ignition Facility. Domenici has been more inclined to propose cuts on that project in recent years.
When these cuts hit there are going to be a lot of "we's" losing their jobs, including both weapon scientists and those doing LDRD funded research.
Congress is making it clear that they want significant cuts across the board at LANL, including pits (zeroed out completely), stockpile stewardship, non-proliferation, and super-computing. From the looks of it, almost nothing will be left untouched by the budget axe when it finally hits, except for perhaps clean-up operations.
With each passing year, LANL begins to look more and more like it is following the path of Rocky Flats.
He noted that the bill adds $87 million to Lawrence Livermore National Laboratory’s National Ignition Facility. Domenici has been more inclined to propose cuts on that project in recent years. Just enough to pay for LLNS management fee for FY-09. Who are they kidding
" we'll know our budget in Oct of 2008 and take actions in Feb of 2009 if needed". I'd say they know a lot more than they're telling you.
Looks like congress wants to shut down the rest of nuclear weapons work. If they won't fund the new complex, won't fund existing programs, there is nothing left.
Agreed. This means LLNL should be shut down except for NIF is about 24 months.
Clearly LANL has some problems if this budget stands. It is far from clear that LLNL does however.
Anything beyond next year is a crap shot of course but I don't get the doom and gloom. Step away from the cliff and stop trying to push other people off it.
Overall the cuts in current and future weapons complex funding appear deep. While a big program, NIF cannot carry the whole lab.
This year's funding work is worth watching carefully. Here is one place where calls to Congress can still mean something.
You keep hoping and praying it all gets better or in your case all is well and LLNL has a great future ahead of it with no cuts in funding or man power reduction. You just hold that thought and just maybe it will come true, but, I have great doubts your dream is ever going to materialize.