JAMES MADISON QUOTE - 1822

"A popular government without popular information, or the means of acquiring it, is but a Prologue to a Farce or a Tragedy; or, perhaps both. Knowledge will forever govern ignorance; and a people who mean to be their own governors must arm themselves with the power knowledge gives."

SCOTTSBORO WEATHER

Tuesday, June 10, 2014

TVA PENSION PLAN TROUBLES

The expense of nuclear power has led to massive debt for the TVA. Is TVA on the verge of PENSION DEFAULT? Where is TVA's pension money going??

"TVA continues to withhold pension funding even as it collects funds specifically to cover pension costs from its ratepayers. Based on information I received from TVA through a Freedom of Information Act request, TVA expects to collect $528 million from its ratepayers in the current fiscal year, ending Sept. 30, 2014, to cover pension costs but plans to contribute only ...$250 million to the pension plan. In addition, TVA collected $539 million in the fiscal year ended Sept. 30, 2013, and $530 million the previous fiscal year to cover pension costs, but contributed none of these funds to the employees' pension plan...It is unclear why TVA continues to withhold adequate funding from its employees' pension plan...it would be irresponsible for Congress to allow TVA to proceed unchallenged with its current pension funding policy."
http://www.pionline.com/article/20140526/PRINT/305269990/tva-falls-through-cracks-as-plan-funding-deteriorates?template=print
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