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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The ISP got rid of many indirect employees. Unfortunately many of these were gardners, crafts, and others that did real work. That's why it takes so long to change a light bulb. The ISP did not get rid of the expensive white collar staff that doesn't make any positive contribution to your life. That's why there are still so many committees that just create more useless work for the rest of us.
LLNS is a total failure.
PS: I am a manager, but one who does not charge indirect accounts.
If I was a sponsor of science at LLNL I would just no more cash. That would might force ULM to wake up and provide real leadership!.
If LLNS is smart they should get rid of anyone who has the word 'deputy' in their title and that will prevent anymore layoffs.
July 6, 2009 10:10 PM
You fail to understand... LLNS is a largely a "money machine" to enrich the protected ULM class at LLNL. It's not about getting work done or having critical operations addressed. It's only about perks and pay at the top from this point on out. The term "for-profit" management means their profits, not yours!