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 salary ranges will take care of that.
Like some division manager said the other: reclass my a?? ! -:)
There is purpose for the reclass: cost savings for the duration of the contract and beyond.
It is DOE's idea. LLNS just executes; they are not interested in arguing with those that "feed" them.
Can you say, "redlined until further notice". Jobs that pay well reserved for the good old boys freinds. It boils down to this. No matter what degree you have or how many years with the firm. If you're not in a recognized position your pay will stay the same regardless of the extra hours you put in.
This improvement in position definitions is yet another great example of how expertise from our talented Bechtel management team is making this lab a center of excellence to be admired by all.
I'm rolling up my sleeves and joining the winning LLNS team to help make this lab great! How about you?
This was told to all of you during the transition two years ago but everyone said, "they'd never do that". Well guess what here it it. It's all about holding salaries DOWN for as long as they can to save money except for those who'll be put into key jobs ULM deems large rewards. The rest of you will be held down for the next 10 years or so, while they hire new contractor in at much higher salaries, so you're paying their way on your back. Feel the love yet? This is the SIMPLE explaination.
Most people won't feel the impact until next year when they are ranked very high but get a zero raise, and are told this is because they are overpaid for the "step" in their new job classification.
I have been very surprised that the S&E union at the lab - Society of Professional Scientists and Engineers (SPSE) - has been quiet on this.
If you want to get a clear idea where LLNL is heading, just look to LANL. In reality, the same crew of corporate types are now managing both labs. In fact, I believe the Board of Governors for these two lab LLCs have exactly the same members on the board. What an amazing coincidence!
SPSE gave us a chance to elect them as a union. We did not. So, why should they care. Those of you who
did not pay attention in 2007 when SPSE was litteraly begging you to vote, be ready to be shafted forever!