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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Art Wong made a statement to that effect during the Director's All-Hands.
C'mon Labbies, don't rape the system...you're already making out like bandits. If Art wants to promote illegal money grabbing, that's his problem.
June 19, 2013 at 10:32 PM
What's illegal about it? Please explain in detail with facts please.
C'mon Labbies, don't rape the system...you're already making out like bandits. If Art wants to promote illegal money grabbing, that's his problem.
June 19, 2013 at 10:32 PM
What's illegal about it? Please explain in detail with facts please.
I think we'll try in 6 months and get it. Maybe sooner without lying.
How do I know? I was unemployed four years ago, explained the situation to an EDD employee, and collected both retirement and unemployment until I found a job. I would have lost my house otherwise, BTW.