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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Congratulations 5 first laid off employees. Good fight.
Is laying people off illegally = abuse of power ?
Please investigate.
The jury should reward damages of some multiple of 2.7M for the five plaintiffs and this will become the basis for a settlement for the remaining 125 and others wronged who now come forward.
Appeals will occur as the LLC is desperate. NNSA will not cover this management error, and the LLC lacks the equity to cover the expected settlement.
Tyler Przybylek's bright idea of privatization, badly executed, is likely to have bankrupt one of the nation's former "Crown Jewels" in under 5 years.
Nice work Tyler, Bodman and other DOE and NNSA Private Equity wannabees.
May 12, 2013 at 8:12 AM
How? By NNSA telling LLNS, "your on your own buddy"!
Actually, NNSA is hanging out on a limb too since they approved the damn thing. What a bunch of D-students!
However, if you worked at any of the NNSA "for-profit" managed labs you already knew that.
However, if you worked at any of the NNSA "for-profit" managed labs you already knew that.
May 12, 2013 at 2:32 PM
So does LANS. Unfortunately, no one at LANL has the balls to takes these bastards on.
125 more plantiffs are signed up, and more will join the gravy train now that the wrongdoing has been decided and valued.
Read the verdict. This was a bad day for the plaintiffs and especially their lawyer. He probably sunk in $15 million on this and might get someday 40% of 2.7 million. No age discrimination finding or any illegality.
May 12, 2013 at 8:20 PM
That's not what was said in the newspaper article. Can you post a link to whatever you're reading?
May 14, 2013 at 7:54 AM
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God willing. The lab is full of people who needed to retire years ago. The lab can't bring in any young talent because the "old farts" can't get off the gravy train. Get off EBA and do real science, or GTFO.
May 14, 2013 at 9:07 AM
That's what the Muslim extremists say before they pronounce death upon the infidels (us). Be careful whose will you invoke in your tirade to get rid of the "old farts." The people who, you can't wait to supplant can and will run rings around you and your arrogant ignorance. Grow up.