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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Some highlights
" Mr. Friedman wrote that the department spent nearly $13 billion a year to run 16 separate laboratories but that only about half of that money went toward actual research, with 49 percent paying for overhead and capital spending. "
I thought we spent
less than 40% on research.
"the department should also reabsorb the agency that handles nuclear weapons, the National Nuclear Security Administration, which was made a separate organization in 2000 because of security concerns. "
Get rid of NNSA? What does NNSA do?
"“have a significant impact” in states like Idaho, New Mexico, South Carolina, Tennessee and Washington"
Well at least California and LLNL are safe.
"He warned that “painful” staff reductions were certain to come as Congress sought deep federal budget cuts in the months ahead. "
Sounds about right. Of course this is not just going to hard on LLNL, LANL, but also Argonne, Oak Ridge and so on. Hell even NSF and NIH are going to be hit.
Hope some of it comes to fruition
Hope some of it comes to fruition
November 23, 2011 12:35 PM
Your use of the term "fruition" in connection with research shows you have no concept of what research is. Apply the term to "development" and you're closer to the mark.