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...
As Charlie said the score was very disappointing to LANS. This whole private contractor thing has been a complete disaster. If you have any doubt just remember when LANS rolled out the "lab" purpose, misguided, inane, inappropriate and a waste of time. Well they sure have dropped that like a rock. LANS needs to go and the sooner the better.
Does this mean they will stop cycling through Bechtel cronies that are incompetent stay parked for three years at a huge salary
do nothing, look down on the technical staff, and move on to their next assignments. Don't they also get their lifelong benefits transferred to LANL?