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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I agree this is a non-story, every town does this, it is a political witch hunt would never see the light of day in any other town but whatever reason is going on now. I refuse to read these articles and you should too.
One minor incident on possible misuse of tax money coming from LANL should not be associated with LANL or the GRT tax. This stuff just happens on occasions is probably not as bad as it is being made out to be. The money is necessary for the community and the small possible misuse of a very small amount of amount is non-issue and should be mentioned on this blog.