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 was the message Congressman John Garamendi shared with employees Tuesday during and all-hands presentation.
“In 10 years, there could actually be legitimate fusion power,” he said. “You said you needed a few dollars to get that done. That dream is possible.”
He said the Laboratory is a place that cannot only help the country in national security and nonproliferation but in energy and climate change as well. “The Lab spins off incredibly important information. To watch the evolution of the Laboratory do so many other things besides the central purpose of national security is exciting.”
This was Garamendi’s first visit to the Lab since being elected last November representative of the state’s 10th district, which includes the Lab. Garamendi, formerly California’s lieutenant governor, won the seat previously held by Rep. Ellen Tauscher.
He sits on the Transportation Infrastructure Committee as well as the Science and Technology Subcommittee on Innovation, Technology, Energy and Water. He said the goal of this committee is to educate itself first on the important issues and then disseminate that to the public.
“It’s been three decades since our nation has dealt with nuclear energy issues,” he said. “We need to educate ourselves and develop support for projects such as NIF and fusion power.”
While the Laboratory did not receive a large amount of financial support for energy projects through the first round of funding in the American Recovery and Reinvestment Act, Garamendi said there is a significant amount of dollars available for future projects.
“A lot of that money isn’t going where it may have the greatest potential,” he said. “In the first round, winners had been preselected and others were left out. There is second round that hasn’t been spent or decided how it will be used. Can some of that be used here on this campus? I’m going to push this process to work with DOE and other departments that are not normal funding sources here to bring the money to carry out the broad mission of this Laboratory.”
Garamendi commented on his privilege to represent the district with the greatest research facilities in the world. His district includes Livermore and Sandia labs and skirts Lawrence Berkeley Lab and UC Berkeley.
“This is where it will be developed if we we’re willing to invest in those things and take the risks of the investment,” he said. “The knowledge in this area is unparalleled. There is some real serious thinking going on and I need to have that information so please share it with me. “
He seemed to be enthusiastic to be at the lab, hopefully that was not a show. I was pleased that he has a history with the Lab and it would appear that he feels that we have something to contribute.
But then, he said he believed Pelosi when she stated that there would be no additional taxes on the middle class to pay for impending medical plan. If the speaker can sell him that bill of goods, then maybe Moses and Miller can sell him on NIF producing commercial power in 10 years.
But I'll bet RRW is still dead.
She silently participated in the selling of LLNL to the corporate world!