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
I doubt Chu will be able to hold his position in DOE much longer. He's become an embarrassment to Obama, who is facing a tough re-election campaign.
Dr. Chu is about to take part of the fall for the Solyndra-gate fiasco and be "thrown under the bus".
DOE is a turkey pen. The stumblebum bureaucrats humble the best.
Time to eliminate the -- in the inimitable style of Governor Rick Perry -- "ah, ah, ah, what was that third one........oh, yeh, the DOE".
Its staff is indeed forgetable.
Take the Nuclear weapons complex to a new agency and junk the remainder.
The organization is asked to do far more than it is capable of.
November 15, 2011 10:12 PM
I completely disagree. The problem is that the "organization" has been relegated to a profit organization with the bar (PBIs) so low that it is no longer being challenged. The analogy is the Manhattan Project assigned to perform validation of Newton's Laws using "shoes that grip", management getting bonuses and flashy sports cars for every test or analysis that is performed, and oversight going from one person (General Groves) to several thousand wind-tipped suits (NNSA).
Chu may not have sent thousands to their deaths and evaded falling bombs by seconds, but my guess is, he is simply too self-assured to be much affected by the opinions of those posturing before him. For he has learned to control himself.
As we competent few know and the hoi polloi still wonders, "Who is John Barth?"
November 23, 2011 12:41 PM
Only warmed-over pseudo-intellectual hippies care. No one else gives a crap. Chu is out along with Obama.