Skip to main content

cola question

Image
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
Post a Comment

Popular posts from this blog

Plutonium Shots on NIF.

By scooby
Tri-Valley Cares needs to be on this if they aren't already. We need to make sure that NNSA and LLNL does not make good on promises to pursue such stupid ideas as doing Plutonium experiments on NIF. The stupidity arises from the fact that a huge population is placed at risk in the short and long term. Why do this kind of experiment in a heavily populated area? Only a moron would push that kind of imbecile area. Do it somewhere else in the god forsaken hills of Los Alamos. Why should the communities in the Bay Area be subjected to such increased risk just because the lab's NIF has failed twice and is trying the Hail Mary pass of doing an SNM experiment just to justify their existence? Those Laser EoS techniques and the people analyzing the raw data are all just BAD anyways. You know what comes next after they do the experiment. They'll figure out that they need larger samples. More risk for the local population. Stop this imbecilic pursuit. They wan...
155 comments
Read more

Trump is to gut the labs.

By scooby
The budget has a 20% decrease to DOE office of science, 20% cut to NIH. NASA also gets a cut. This will  have a huge negative effect on the lab. Crazy, juts crazy. He also wants to cut NEA and PBS, this may not seem like  a big deal but they get very little money and do great things.
124 comments
Read more

tcp1 looking good

By scooby
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...
105 comments
Read more