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
May 17, 2018 at 12:17 PM
Nope, Texas Ski Tourists looking for an alternative to Red River.
Heard the announcement could still be today. Something is up as lots of looks of shock, even people saying that they will be leaving soon.
May 18, 2018 at 12:44 PM
Hey, its Friday, and everyone knows that bad news is always released late Friday afternoon so the unwashed can stew over it all weekend long, leading to the desired mass exodus next week.
May 18, 2018 at 3:26 PM
If it is Texas how is that bad news? Bad news would have been Bechtel. As for the UC bid, about half the people wanted it due to uncertainty however few people have been happy with the current management and have been worried that if UC wins we would have the same issues that we have now.
In general I would guess most 50% will be happy Texas wins 35% are neutral but optimistic and
15% LANS mangers are not happy. About 90% are happy that we got rid of Bechtel.
Overall sound like good news for LANL. Bad news for Bechtel, bad news for the LASG, and doubt UC even cares at this point.
To be fair to UC, they had been simply put in an untenable situation after WHL, after that all sorts of crazy things where thrown at them including threats of terminating the contract. It was pretty well understood that UC was forced to hire Nanos and the only reason they could not get rid of him right away was the DOE was threating to cut the contract. UC just kept giving in and giving in and we are left with the total complete mess that we have today. What UC should have done is just stood up to the nonsense in the first place, perhaps they would have been thrown out by the congress earlier but perhaps not in the end they lost the contract anyway. There is a lessen to be learned kids, it is that giving in and compromising will not save you in the end. The last man standing gets pity.
The ultimate villains are NNSA and DOE, but that is not surprising as they are simply part of the swamp.
DOE DID terminate UC's contract, Congress didn't. UC was terminated for financial mismanagement, NOT for WHL.
Bechtel never had anything but a small role in running LANL. Two upper managers, that's IT, three deputy lab directors - two of which UC fired, and Bechtel had a very small scope. Claim otherwise and you're lying.
UC wasn't just a villain for supporting Nanos. UC was also as incompetent as the Three Stooges.
May 19, 2018 at 2:29 PM"
Ah, we may be in very bad surprise if the what I heard is true in that Bechtel won.
May 19, 2018 at 6:55 PM
At least BWXT and Jeff still leave.
May 19, 2018 at 3:53 PM
You are one very bitter dude. What the hell happened to you. We get it you hate LANL but could you please move on with your life.
If so, what a nightmare!