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...
The Trump’s budget would cut DOE spending overall by $1.7 billion — or 5.6 percent from current levels — to $28 billion. But the money is redistributed. NNSA's budget would grow 11.3 percent while the rest of the DOE’s programs would be cut by 17.9 percent. The president would drop programs such as the Weatherization Assistance Program, which provides grants to states and some Indian tribes to improve energy efficiency for low-income families, and the State Energy Program, which gives grants to states. It would also eliminate altogether the Advanced Research Projects Agency-Energy, which is popular in Congress and spends $300 million on basic research; Title 17 loan guarantees for new low-carbon energy projects; and the Advanced Technology Vehicle Manufacturing Program, which has helped such companies as Tesla develop electric cars and Ford develop more-efficient combustion engines and light materials.