Wednesday, January 19, 2005

More Comments on the RFP

From the 1/192005 Los Alamos Monitor:

Wednesday, January 19, 2005


Protect your LANL retirement

Dear Editor,

LANL retirement balances are about to be cut in half! (Source: DOE Request for Proposal). It would be best if DOE heard from 10,000 outraged employees immediately.

First, the values of past pension funds for previous years of service are at risk. (RFP Section H 36-37). In 2005, DOE is planning to spin off a separate $6 billion LANL retirement account, even if UC is the final contractor. DOE will then audit this pension account yearly and confiscate any excess funds. In the 1970s, this was called pension-raiding.

Second, newly generated pension funds are being held to a 105 percent cap. However, present LANL benefits are typical for large corporations, except for one glaring exception. Pensions are currently high at 175 percent of the comparator group. It is obvious to me the main goal of this new contract is to reduce future LANL pensions by half.

If you are panicking as billions of lost dollars pass before your eyes, I suggest that you email "Save Our Pensions" comments ASAP to DOE at the email addres:

Debbie Clark

White Rock

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