By Daniel M. Pitts | May 26, 2014 Source: Pensions & Investments (Click here ) With widespread improvements in pension plan funded levels reported for U.S. corporations, it was alarming to learn the Tennessee Valley Authority's pension plan was only 63% funded at the end of its fiscal year Sept. 30. This funded level puts TVA's pension plan among the worst funded pension plans of major electric utilities in the U.S. The pension plan's current funded status, TVA's reluctance to properly fund it, and the fact that the pension benefits are not guaranteed raise serious questions about the long-term well-being of the pension promise to participants. Upon realizing the critically deficient standing of TVA's pension plan, I reviewed the 10-K financial statements, filed with the Securities and Exchange Commission, of six utilities that compete with TVA: Exelon Corp., Entergy Corp., Duke Energy Corp., American Electric Power Co., Southern Co. and Dominion Resour...