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
Sounds odd. So the person was placed on a performance improvement plan? Why was he placed on this?
Exceptional mediocrity in funding is the mantra. Just do whatever you can to keep the money flowing. The quality of the work is totally optional and often counter-productive. No one is really looking at the quality of the work anyway. Besides, the external and internal reviews can usually just be BS'ed. Anyone. who doesn't get the religion will be punished.
You could be correct. There is near zero incentive for Sandia or other NNSA contractors to work with employees in good faith if they dare speak up on any matter that is not flattering to the contractor. Why? Because the contractor is generally permitted to request and receive 100% NNSA reimbursement for all legal fees and expenses for outside counsel to defend itself, and the contractor can use at will, internal project/task account numbers for hundreds of man-hours worth of charges to develop defense strategies and testimonies that draw funds from its own NNSA awarded operational budget (contract funds). At the same time, contractor profits or award fees remain safe and secure. There have been many high profile lawsuits against NNSA labs that have followed this well polished NNSA funded process. Unless Congress steps in to make material changes to this scenario, expect more of the same.
12/31/2021 7:38 AM
Your scenario is basically the taxpayer being ripped off by high-rolling contributors to Congressmen and Senators (AKA "NNSA contractors"), so don't expect Congress to step in very soon.
Correct. Unless the "revolving door" between NNSA managers, congressman pay offs $, and NNSA contractor leadership "changing of hats", you'll get more of the same, until a major accident occurs. A favorable template of operational practices that will surely lead to accidents for the tax payer down winders.