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
August 24, 2017 at 4:47 PM
One story is that Bechtel is dumping people at LANL that they want to get rid of. It saves severance pay or something like that. Not that many years ago we had to get rid of people in several volunteer separations actions, now we are hiring like crazy. Soothing does not add up. Who are all these people, they sure are not technical staff.
August 24, 2017 at 6:29 PM
Do you even have a clue how many Bechtel people there are at the Lab? (I'll give you a hint, less than 200)
Since LANS has been deemed a failure and is on the way out is it a really a good idea to allow them to hire people that will serve until 2030? That could mean we will be stuck with LANS issues until 2030. Maybe NNSA should tell them you are only allowed very limited hiring at this point so that the next contractor could have a chance to improve things.
August 26, 2017 at 12:37 PM
THey won't be allowed to RIF 3000. Political nightmare. Requires DOE approval and some sense of need. LANL is not in a reduction mode. So yes, you are stuck with the LANS hires. The dirty secret is the actual non-UC contract partners only have about 500 people at the lab (Bechtel, AECOM, BWXT) out of 8000. Those are the only ones who may leave.
August 26, 2017 at 2:11 PM
Wrong. Anyone close to retiring "may leave" depending on how seriously crappy the new contract is. Mess with my retirement or health care, and I'm gone, years before I wanted to be, but good riddance.
August 27, 2017 at 5:51 PM
Don't let the door hit your ass on your way out. You can be replaced 10 timers over by someone who will do your job cheaper. Hell if they never show up to work than it will be safer and more secure so PBIs are ensured. LANS does not get paid to do thing it only gets paid when it doesn't do certain things. If we stick to this model than why should anyone care who is hired or who retires?
August 27, 2017 at 11:39 PM
You may have missed the news that LANS is out as the M&O contractor? And that NNSA is accepting bids from both for profit and not for profit bidders?