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
Just saw this.
Carolyn Zerkle is a rather infamous character on the blog site and was subject of endless comments over the years. There are so many good stories about her. In any case she seemed to be a LANS person through and through and through. There seemed to only be bad stories about her on the blog. Since the blog might be filter for only certain views, I am sure there must be plenty of people who will point out good things.
The unspoken question really is, what best juices the LLNS annual award fee, those with the talent to best meet our NNSA milestones, or those that are best at massaging these milestones to the NNSA Field Office for maximum profit? This is where we are. Sorry.