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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Two new DOE sub-offices. The Grid Deployment office and the Office of State and Community Energy Programs. The latter to deal with the States, Tribes and Territories. To me, it would seem that the latter is an office created to get someone a cushy federal job.
The first office - Grid Deployment. It would seem that the government has failed us. ERDA was created under Ford, DOE under Carter and we've had to go through 6 more presidents, 2 ERDA Leaders, 16 secretaries of DOE and 47 years to create/focus on the electrical grid. Either a whole lot of people have been asleep at the wheel or this "new" office is a means to get some more space for little piglets to get their share at the taxpayer trough.
I can see asleep at the wheel. Livermore Lab's electrical grid suffered a near total meltdown in the 80's when it hadn't been properly upgraded and maintained since the days of the naval base. The lab learned a painful and powerful lesson when that failure occurred. Maybe that lesson will need to be visited upon California to get a wake up call. Perhaps then the AC goes out at the French Laundry and a bottle of expensive wine looses its chill.