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...
Comments
What was changed? Who changed it? Why has more information not been shared?
More importantly, how will this impact the award of an extension year on the current contract?
- Charlie "Awesome" McMillan
- Charlie "Awesome" McMillan
September 28, 2015 at 7:17 PM
Nobody yells "Winning!!!!" if he is winning except fools and people who never expected to win. Charlie is neither. He always expected to win because he was backed by Bechtel, who by definition never loses. The only losers here are those who choose to parody Charlie instead of working every day to get him out. Make some changes in how you do what you call a career, in the sense of being unrelentingly moral, professional, competent, focused on your own career success, and unwilling to bend any of those choices for any reason. Then you will be "winning" and you won't have to be an asshole and shout it.