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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LANLs only important mission, weapons is well done 87%.
The rest is passing madness.
Time for NNSA to screw the employees. ..
I recognize the LANS failures, WIPP, the Deputy Director scandal, etc.. Having said that, LANL and LLNL are not evaluated by a roving NNSA Team of employees. Each Lab has their own NNSA Field Office graders. If you swap the NNSA graders, you get what result? We don't know the working relationship or interplay of each contractor to their respective NNSA team of evaluators. Right?
How about that "cowboy" who as former Dep. Director was able to totally overlook the fact that her husband got a sweet, no-bid contract with LANL and could swing trips to the Santa Fe Opera and then bill it as a LANL contract expense? Priceless!
Kansas City: 96% Great!
Pantex: 90% Great!
LLNS: 87% Nice!
NSTec: 83% Sorta Nice!
Sandia: 81% Sorta Nice!
Y-12: 78% Mediocre!
Savannah River: 75% Mediocre!
LANS: 45% OMG.....
That's way beyond any reasonably expected deviations due to the local field office, and all these reports are reviewed up, down and sideways in DC anyways. Epic fail for LANL.
That was the preliminary score from the initial letter, while the final score is in the other letter, also at the same link.
LANS: 9.8%
Indeed, epic fail for LANL. Even in the lowest days under Nanos, the Laboratory was better positioned than where it is now.
Well if you think about it science always scores well. If your reduce the scientific workforce by 1/2 I doubt the score would change much at all but you wave lots of money. If I where looking for a way to save some money and keep up the profits than getting rid of science would be the way to go. Does anyone else thing that any would notice if half the scientists where gone or it would change the score?
Thanks for nothing, Charlie!
RIFs are messy and expensive. Why go that route when you don't need to do it? And don't plan on LANS spending the cash for another lucrative Voluntary Separation Plan (VSP), either.
In fact, I wouldn't be at all surprised if LANS suddenly announces that accumulated severance will be cut back even further... to only two weeks of pay. They got away with making big cuts to accumulate severance several years ago with barely a whimper from the staff, so why not try it again?
If there is a shriveled carrot they will attempt to use for getting rid of the older staff, it will be retiree medical for a VSP. For example, they could announce that anyone who doesn't retire by such and such a date will receive little or no future retiree medical benefits. That would quickly get the older staff who sitting on the fence to pull the rip-cord and go for retirement ASAP. It would also greatly please the bean-counters over at NNSA.
Hmm. How would such a threat not directly impact the retirement medical coverage of retirement age "good old boy" LANSLLNS managers at the same time?
No, I think the low key trickle RIF will be the ticket for "at will" LANSLLNS worker bee employees. You don't think its already happening?
It's been done at other big corporation. It's likely to be done at LLNL and LANL, eventually. Without some effective means of organizing workers and going on strike, American workers will continue to see their pay slashed and their benefits cut.
yeah, butt- the size of the fines and fee reduction mandate a large RIF. Bean-counters will be overwhelmed. Housing "fire" sale at Los Alamos? Just a fact Jack.