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 can feel the gnashing of teeth at Bechtel headquarters over this. LANL was nothing but crazy uncontrolled cowboys that even Bechtel could not beat into submission and that TRIAD would be utter disaster and be out after 3 years for sure. Some Bechtel people actually told me this, "the cultural problems are too deep at LANL, TTRIAD will be in for a shock!!!". Well that prediction was wrong. Go TRIAD, go UC!!!
12/10/2022 4:38 AM
I am just curious why you say TRIAD are snakes? Everyone I know agrees that TRIAD has been way better than Bechtel. The only times I have heard anyone say something bad about TRIAD has been this blog. I know a few managers left when TRIAD came in but other than that who has an issue with TRIAD. Care to explain the issues you think TRIAD has.