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...
Comments
The annual scores will rise each and every year. Morale and science are anti-correlated with the performance scores. Therefore, they will drop each and every year from this point forward.
Tyler Przybylek, the single decision maker at NNSA who choose LLNS, has already taken on a lucrative job with an NNSA contractor.
Capt. Tom D'Agostino, the single decision maker at NNSA who choose LANS, will soon be given a perk VP job at Bechtel to reward him for his "good taste" in contractors.