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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... and what happens to the contract requirement of retaining talented people?
Well, you can bet that "talented" will be redefined and LLNS will pass with flying colors!
Merit Allocations -
A small percentage shaved off for promotions and adjustments. The numbers shown are pre-adjustment as far as I know.
Security(050) 3.00%
S&Es (200s) 2.11%
Technical (300s) 1.54%
Admin Mgmt
(MGT.1 MGT.2, EXS.0) 1.34%
Administrative Services
(Axx) 1.00%
Audit (Bxx) 6.82%
Financial Services (Cxx) 3.26%
HR & Training (Hxx) 2.40%
Legal (Dxx) 3.55%
Business Systems & Analysis
(Exx) 4.61%
Procurement/Material Distribution (Fxx) 5.86%
Publications/Arts/Relations
(Gxx) 2.88%
Security (Jxx) 2.88%
Counterintelligence (Kxx)2.88%
Health & Safety (Pxx)1.00%
Admin & Specialist 5 (ADS.5)4.32%
Administrative (400s) 2.30%
Techincal (500s) 2.02%
Step Allocations
Security (600-Sgts/CAS) 3.00%
Facilities (800s) Non-Represented 5.28%
Machinists (900s) 1.00%
Those who're valued got the best raises. The rest got crapped on. Now you know how you're viewed by LLNS so get back to work and by the way we'll want more productivity from each of you again in FY-09 for the same or possibly less next year. We're finding the transition to be the most motivating event in LLNL history I've seen. Have a great day people.
Nothing has changed. It's only gotten better for management. Big rewards for accomplishing nothing. It's the same for all the turds who's firms failed, plastered the American tax payer with more debt and have contributed to the nations demise. Everyone of those CEO's got a golden hand shake, millions of dollars in severance pay and multi-million dollar retirement plans. What do the people that actually do the work get? Well you figure it out. In reality everyone of the CEO belongs in prison with a cell mate known as Tyrone who would be the dominant male for the duration of their life. Maybe a little getten of what they gave it what they deserve.
HB
A public hanging is much cheaper. Then let'm hang there for a while for people to walk by read the charges posted by their chest.
The best way to show your feelings about the salaries is to just walk away. I am expecting this to be my third round of not getting raise (I did get bonuses).
I really don't know anybody that did not receive more pay, better benefits etc... when they moved on from LLNL. Some took longer to find work than others, but there are clearly other options out there. At this point, If LLNL closes the nation will not suffer, the damage has been done.
More pay - YES - but less 401(k) match, more than offset by generous hiring bonus
Better benefits - YES - including (believe it or not) more vacation and sick leave, and additional retirement after 5 years
AND, job security to boot!
Glad to be gone.