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cola question

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By scooby

what is the cola for TCP1 pensioners that is planned for July  ? 
Anonymous said...
Question is. Have there been any cola's for TCP1 since 2008 ? There have been each year for UC TCP2.
June 6, 2014 at 12:18 PM 
Anonymous said...
Question is. Have there been any cola's for TCP1 since 2008 ? There have been each year for UC TCP2.

June 6, 2014 at 12:18 PM

There is no such thing as "UC TCP2." TCP1 and TCP2, respectively, are the defined-benefit pension and defined-contribution 401k plans for LANS/LLNS. They have nothing to do with UC, and vice versa. Perhaps you meant the UCRP pension plan, for which there have indeen been COLAs every year since the contract transition.

Comments

Anonymous said…
Question is. Have there been any cola's for TCP1 since 2008 ? There have been each year for UC TCP2.

June 6, 2014 at 12:18 PM

There is no such thing as "UC TCP2." TCP1 and TCP2, respectively, are the defined-benefit pension and defined-contribution 401k plans for LANS/LLNS. They have nothing to do with UC, and vice versa. Perhaps you meant the UCRP pension plan, for which there have indeed been COLAs every year since the contract transition.

+++
Ok correct, as a LLNS, Oct, 2007 transition winner. The nickname "UC TCP2" is UCRP + 401K combination under TCP2. For new employees after Oct, 2007 TCP2 that is just the 401K. with LLNS salary match.

Never liked the LLNS TCP Total Compensation Plan jargon. The deal merely was a clever way to freeze what was a perfectly good LLNL pension plan under UCRP. More like Totaled Compensation Plan sort of like when an Insurance company "totals" your automobile after a wreck to intrinsic value. Years of service frozen. 3 year average salary frozen. Only your age left to contribute to more dollars per month. TCP2 choice did give one the opportunity to begin drawing on the UCRP before retiring from LLNL given a good age factor.

UC has paid COLA's. Schedule for 2014 depending on retirement date COLA's are 1.5%, 1.84%, 1.98% and 2%. Good option after retirement you can roll the UC Cap funds and 401K into an IRA for detailed management if you chose. Just saying.
6/06/2014 9:37 PM
Anonymous said…

Why would you roll the CAP funds?

Doesn't CAP pay 8% guaranteed forever?
6/06/2014 10:14 PM
Anonymous said…
Good point. Seemed like a good idea in Oct, 2007 before 2008. You do have to take CAP money when you retire, so not a forever deal. Most keep it tax deferred. CAP was the best deal when UC paid out funds with 8% interest was it not.
6/06/2014 11:44 PM
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