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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Sandia has always been the "good lab" while LANL is is the problem child that needs to be beaten. Sandia has one scandal with of illegal lobbying, LANL: Wen Ho Lee, stolen mustangs, fires, disks behind copiers, culture of theft, cowboy culture, lab shut down, arrogant scientists, buttheads, meth and secrets, blowing up buildings, broken fences, WHIP, corrupt deputy directors, people who think they are better than others, more fires, stolen gold, drug testing, WHIP, blinding students with lasers, electrical fires, broken fences and it goes on and on.
I think it is clear that Sandia is not the leper child, but the good studious child that makes a mistake every once in awhile like we all do. LANL is the incorrigible delinquent, LLNL is the fat dumb kid that everyone picks on, NTS is the invisible child that never says anything. Oak Ridge is the child that has gone on the Ivy league and will soon start a job as an investment banker. DOE is the stern but fair father trying to deal with a large and diverse family. NNSA is the mentally disturbed mother on prozac.