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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That’s a good one, equating LLNS with a true competitive free market capitalist system at work, with a ~20 year + no contract competition contract :). Ha ha. The National Labs role is one of national mission based directives, not of one federal contractor’s financial gain. Workers count.
Is this comment not a blog violation Scooby? Why did you allow this to be posted, or was it just a simple miss? Thanks.
As the original poster, I am interested in replies specific to questions raised in the original post, which may benefit both LLNL missions after the LLNS contract end in 2026, and current employees still working at LLNL under a new contractor after 2026. Thanks.
Or is the question related to something else that might have happened?