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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Take a look at the Strategic Outcomes Office as another useless black hole for overhead.
And anyone who thinks LANS will be kicked out of the management contract is badly mistaken. In fact, glowing reports of "improvements" will be released in the next few years by NNSA allowing them to extend the LANS contract for many years to come. Kudos and back-pats will be generously handed out to the whole LANS management team as the annual scores improve from almost zero.
Everyone loves a good turn around story and LANS is heavily committed to seeing that is exactly what happens. Of course, to get to that point we'll need to have most work put aside to ensure absolute safety and zero risks. LANL will also need more managers for the purposes of greater oversight, too. And policies will need to be extended along with tons of more paperwork for CYA forms to be signed by everyone.
The future is clearer than it has been in years. Only problem is the path forward sucks for most of the scientific staff.
Na, Wallace looks like he is on his last legs. I think he will be done before long. Not sure what happened to him but he is looking pretty bad lately. Broken man.