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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Well, transients is all they want from here on out, fella. You are going to see people come into LLNL to work for about 5 years and then move on to better jobs. It will be much like what happens in most of the corporate world.
Loyalty at LLNL is dead, but LLNS killed it off with a purpose in mind. It's cheaper for LLNS to keep morale low and to continually roll over the exiting workforce with new hires so they can acquire cheap labor and control the remaining workforce with the big stick called fear.
Of course, this will kill off the good science and many of the WFO programs, but what's that got to do with making a buck on the management of LLNL? It's all about money from here on out. Not your money, but theirs'.
You're absolutely correct. Many of us young people are here for the sole purpose of putting this relationship on our resume and then we're moving on.