I did a soft reset per LG (removed battery while phone on), rebooted and Date now says Jan 6 1980 and time as 12:01 am.. I tried looking through manual, googling, and contacting LG.. no resolution found as of yet.
In the settings there should be a date and time option.
I'm most definitely NOT a VZW employee. If a post answered your question, please mark it as the answer.
Try removing and reinserting the SIM card, or dialing*228 option 1 to reconnect to the network. The time should reset once the network connection is reestablished.