Office of Inspector General report on special audit of pension plans for Department of Energy contract employees of the University of California

PDF Version Also Available for Download.

Description

On May 15, 1996, the Department of Energy (DOE) announced its decision to extend and renegotiate its contracts with the University of California for the management and operation of the Los Alamos, Lawrence Berkeley, and Lawrence Livermore National Laboratories. Current contracts for the operation of these laboratories expire in 1997. The renegotiation process provides an opportunity for the Department to: (1) recover at least $620 million in excess assets from the pension plans it has funded for University of California employees who work at DOE`s laboratories; and (2) improve the Department`s ability to exercise prudent management of its interest in ... continued below

Physical Description

18 p.

Creation Information

Creator: Unknown. August 1, 1996.

Context

This report is part of the collection entitled: Office of Scientific & Technical Information Technical Reports and was provided by UNT Libraries Government Documents Department to Digital Library, a digital repository hosted by the UNT Libraries. More information about this report can be viewed below.

Who

People and organizations associated with either the creation of this report or its content.

Creator

  • We've been unable to identify the creator(s) of this report.

Sponsor

Publisher

Provided By

UNT Libraries Government Documents Department

Serving as both a federal and a state depository library, the UNT Libraries Government Documents Department maintains millions of items in a variety of formats. The department is a member of the FDLP Content Partnerships Program and an Affiliated Archive of the National Archives.

Contact Us

What

Descriptive information to help identify this report. Follow the links below to find similar items on the Digital Library.

Description

On May 15, 1996, the Department of Energy (DOE) announced its decision to extend and renegotiate its contracts with the University of California for the management and operation of the Los Alamos, Lawrence Berkeley, and Lawrence Livermore National Laboratories. Current contracts for the operation of these laboratories expire in 1997. The renegotiation process provides an opportunity for the Department to: (1) recover at least $620 million in excess assets from the pension plans it has funded for University of California employees who work at DOE`s laboratories; and (2) improve the Department`s ability to exercise prudent management of its interest in those pension funds. According to Department records, as of July 1, 1995, the University of California Retirement Plan had between $620 million and $2.0 billion in excess assets that were attributable to the Department of Energy (emphasis supplied). The wide variation in excess assets is a function of the assumptions used in making these calculations. These are described in Appendix 1 to this report. It was concluded as a result of the audit that, as part of the contract renegotiation process, the Department should obtain the cooperation and assistance of the University of California in recovering excess pension plan assets in a manner that does not affect the defined retirement benefits of the contract employees. This could include jointly sponsoring legislation to modify any existing legal restrictions.

Physical Description

18 p.

Notes

OSTI as TI96015000

Source

  • Other Information: PBD: Aug 1996

Language

Item Type

Identifier

Unique identifying numbers for this report in the Digital Library or other systems.

  • Other: TI96015000
  • Report No.: DOE/IG--0394
  • DOI: 10.2172/373879 | External Link
  • Office of Scientific & Technical Information Report Number: 373879
  • Archival Resource Key: ark:/67531/metadc687665

Collections

This report is part of the following collection of related materials.

Office of Scientific & Technical Information Technical Reports

Reports, articles and other documents harvested from the Office of Scientific and Technical Information.

Office of Scientific and Technical Information (OSTI) is the Department of Energy (DOE) office that collects, preserves, and disseminates DOE-sponsored research and development (R&D) results that are the outcomes of R&D projects or other funded activities at DOE labs and facilities nationwide and grantees at universities and other institutions.

What responsibilities do I have when using this report?

When

Dates and time periods associated with this report.

Creation Date

  • August 1, 1996

Added to The UNT Digital Library

  • July 25, 2015, 2:20 a.m.

Description Last Updated

  • Feb. 20, 2017, 1:05 p.m.

Usage Statistics

When was this report last used?

Yesterday: 0
Past 30 days: 1
Total Uses: 6

Interact With This Report

Here are some suggestions for what to do next.

Start Reading

PDF Version Also Available for Download.

Citations, Rights, Re-Use

Office of Inspector General report on special audit of pension plans for Department of Energy contract employees of the University of California, report, August 1, 1996; Washington D.C.. (digital.library.unt.edu/ark:/67531/metadc687665/: accessed April 25, 2018), University of North Texas Libraries, Digital Library, digital.library.unt.edu; crediting UNT Libraries Government Documents Department.