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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Oh, really?
I have no idea what this means but during several division meetings mangers are saying, " there are lots of rumors of very bad things concering the upcoming management change but these are just rumors as no one knows anything, to be assured that no one actually knows anything and it is only rumors". The implication is be afraid, be very very afraid. Something really crazy could be coming with the new contract.
Maybe so, maybe not. You have your sources?
The UCOP is clear that the UC team has not yet been informed by NNSA that their proposal is compliant with the RFP.
More crazy than UC putting a second-rate geologist in charge of LANL?