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
Anything published, written, discussed or communicated by the DNFSB should be considered "alternative facts". After all, if they didn't pick on the DOE and make stuff up, they wouldn't stay in business. Looking at the details, the infractions a out to total bullshit!
February 13, 2017 at 4:57 AM
Guarantees a response by LANS that suppresses and discourages self-reporting. Is that what DNFSB wants?
February 18, 2017 at 2:29 PM
They don't carry a big stick. The DNFSB is a independent Federal organization with no huevos. The DOE Secretary (another Fed) perceives them as a pain in the butt and ignores them accordingly. If they (DNFSB) carried a "big stick", they would have fixed the problems (e.g. criticality issues) at the Labs years ago.