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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That's short sighted on their part, but obvious.
1. MANAGEMENT AND HUMAN RESOURCE ABUSIVE.
2. NO BOTTOM LINE = THEY CAN DO WHAT THEY WANT AND YOU HAVE TO PAY FOR IT.
3. THE BOTTOM LINE IS LEAVE AND MOVE ON.
CONGRESS DOES NOT CARE. OTHERWISE THEY WOULD INVESTIGATE.
VOTE BY LEAVING AND DO NOT LOOK BACK
NO ONE CARES AND THEY (MANAGEMENT) KEEPS SAYING EMPLOYEES ARE HAPPY. THEY LIVE IN DENIAL.
LISTEN VERY CLOSELY I ONLY KNOW ONE PERSON WHO IS HAPPY.
"didn't the Labs lose track of almost $1B at the Labs?"
No.
Where do you get this crap?
We're no more than tools, buildings and fixtures to them, and they now have a name for it.
An McMillan wonders why his mid-career employees are leaving for better offers. Because there are better offers, and they can.
Employees have been told and shown that they are disposable commodities, and the Labs have no commitment to them under the 401(k) TCP-2 system. It's easy to go somewhere else with no golden handcuffs. And these other places actually allow people to work without hordes of lab bureaucrat minions and NNSA dunces micromanaging every aspect of their attempted work.
June 5, 2013 at 8:53 AM
Absolutely true, but that doesn't matter to the "blame LLNL management first" crowd.
June 5, 2013 at 12:00 PM
Now who's the troll??
http://www.sandia.gov/LabNews/100730.html
The Sandia article says: " Timothy Shepodd (8223) liked the moniker and agreed to call it the “chili cookoff.” But there was no chili involved, and the only “cooking” had to do with the kind of chemicals not usually found on Sandia grounds. "