This report explores key considerations in relation to adopting a dynamic discount rate funding approach and the impacts of doing so in a range of areas, including funding volatility, investment strategy and end game objectives. It considers the advantages and disadvantages of this approach from the perspective of a range of stakeholders and the challenges that need overcoming in order to fully implement and support the approach, for example data challenges and the new skills required in the industry. The report includes sample modelling to highlight the practical issues that arise when adopting this approach. It describes a step-by-step approach for assessing the risks to be considered when determining an appropriate level of assets to provide funding for a sample set of pension scheme cash flows, as summarised in the table below.

It also considers how a dynamic discount rate approach fits within the proposed future funding regulations. Finally, the report puts forward recommendations for the IFoA, Scheme Actuaries and TPR.

Consequences of schemes adopting a dynamic discount rate approach could include very different investment strategies with investment in a wider pool of assets, less use of leveraged Liability Driven Investment, fewer schemes targeting buy-out as their end game strategy and an increase in technical work for actuaries in advising on the optimisation of asset and liability cash flows.

The internal surface area of Na-Wyoming bentonite was determined for linearly swelling pastes, using a physically based equation which describes such swelling. Information required is simply the linear relationship between interplatelet spacing, determined by X-ray powder diffraction, vs total water content determined gravimetrically. However, before the three-unknown parameter equation can be so applied, that portion of external-pore water, which normally increases linearly commensurately as interstitial water increases, must be decreased to zero. This was accomplished by adding dilute quantities of NaCl salt to the clay-paste system to decrease the attractive forces between positive-edge and negative-face sites, and stirring vigorously to further destroy the card-house structure and align the clay platelets.

Tight focusing with very small f-numbers is necessary to achieve the highest at-focus irradiances. However, tight focusing imposes strong demands on precise target positioning in-focus to achieve the highest on-target irradiance. We describe several near-infrared, visible, ultraviolet and soft and hard X-ray diagnostics employed in a ∼1022 W/cm2 laser–plasma experiment. We used nearly 10 J total energy femtosecond laser pulses focused into an approximately 1.3-μm focal spot on 5–20 μm thick stainless-steel targets. We discuss the applicability of these diagnostics to determine the best in-focus target position with approximately 5 μm accuracy (i.e., around half of the short Rayleigh length) and show that several diagnostics (in particular, 3$\omega$ reflection and on-axis hard X-rays) can ensure this accuracy. We demonstrated target positioning within several micrometers from the focus, ensuring over 80% of the ideal peak laser intensity on-target. Our approach is relatively fast (it requires 10–20 laser shots) and does not rely on the coincidence of low-power and high-power focal planes.

Medical-legal partnerships connect legal advocates to healthcare providers and settings. Maintaining effectiveness of medical-legal partnerships and consistently identifying opportunities for innovation and adaptation takes intentionality and effort. In this paper, we discuss ways in which our use of data and quality improvement methods have facilitated advocacy at both patient (client) and population levels as we collectively pursue better, more equitable outcomes.

The Intensity Interferometry technique consists of measuring the spatial coherence (visibility) of an object via its intensity fluctuations over a sufficient range of telescope separations (baselines). This allows us to study the size, shape and morphology of stars with an unprecedented resolution. Cherenkov telescopes have a set of characteristics that coincidentally allow for Intensity Interferometry observations: very large reflective surfaces, sensitivity to individual photons, temporal resolution of nanoseconds and the fact that they come in groups of several telescopes. In the recent years, the MAGIC Collaboration has developed a deadtime-free Intensity Interferometry setup for its two 17 m diameter Cherenkov telescopes that includes a 4-channel GPU-based real-time correlator, 410–430 nm filters and new ways of splitting its primary mirrors into submirrors using Active Mirror Control (AMC). With this setup, MAGIC can operate as a long-baseline optical interferometer in the baseline range 40–90 m, which translates into angular resolutions of 0.5-1 mas. Additionally, thanks to its AMC, it can simultaneously measure the zero-baseline correlation or, by splitting into submirrors, access shorter baselines under 17 m in multiple u-v plane orientations. The best candidates to observe with this technique are relatively small and bright stars, in other words, massive stars (O, B and A types). We will present the science cases that are currently being proposed for this setup, as well as the prospects for the future of the system and technique, like the possibility of large-scale implementation with CTA.

OBJECTIVES/SPECIFIC AIMS: The objective of this research was to investigate the effect of alcohol and evocative stimuli on heart rate variability (HRV) in partners with a history of intimate partner violence in a placebo-controlled alcohol administration study with an emotion-regulation task. METHODS/STUDY POPULATION: In total, 17 partners (9 females, 8 males) with a history of partner violence participated in a placebo-controlled alcohol administration study with an emotion-regulation task during which HRV measures were collected. In the alcohol condition, participants were administered a mixture of 100 proof vodka and cranberry juice calculated to raise their blood alcohol concentration (BAC) to 0.08%. In the placebo condition, participants consumed a volume of juice equivalent to that consumed in the alcohol condition, but without alcohol. Alcohol and placebo conditions were counter-balanced across participants as were the presentation the blocks of evocative and neutral partner stimuli. RESULTS/ANTICIPATED RESULTS: Controlling for baseline HRV, there was a significant main effect of stimuli (evocative vs. neutral partner stimuli) on HRV in intoxicated partners, F1,16=16.28, p=0.004. There was also a significant main effect of regulation on HRV under conditions acute alcohol intoxication, F1,16=23.55, p=0.001. These effects tell us that intoxicated partners experienced reduced HRV when exposed to evocative stimuli from their partners. These effects also tell us that under acute alcohol intoxication, partners were less able to regulate their emotion when exposed to evocative stimuli than when they consumed a placebo beverage. DISCUSSION/SIGNIFICANCE OF IMPACT: These results suggest that increases in intimate partner violence under acute alcohol intoxication may be the result of reduce HRV. This reduction in HRV would contribute to partners’ inability to response with adaptively in conflict when intoxicated. They also suggest that HRV may be an important target for intervention with partner with a history of intimate partner violence. One method may be Heart Rate Variability Biofeedback which has been shown to increase parasympathetic nervous system functioning, autonomic stability, and emotion regulation.

Kalahari Group sediments accumulated in the Kalahari basin, which started forming during the breakup of Gondwana in the early Cretaceous. These sediments cover an extensive part of southern Africa and form a low-relief landscape. Current models assume that the Kalahari Group accumulated throughout the entire Cenozoic. However, chronology has been restricted to early–middle Cenozoic biostratigraphic correlations and to OSL dating of only the past ~ 300 ka. We present a new chronological framework that reveals a dynamic nature of sedimentation in the southern Kalahari. Cosmogenic burial ages obtained from a 55 m section of Kalahari Group sediments from the Mamatwan Mine, southern Kalahari, indicate that the majority of deposition at this location occurred rapidly at 1–1.2 Ma. This Pleistocene sequence overlies the Archaean basement, forming a significant hiatus that permits the possibility of many Phanerozoic cycles of deposition and erosion no longer preserved in the sedimentary record. Our data also establish the existence of a shallow early–middle Pleistocene water body that persisted for > 450 ka prior to this rapid period of deposition. Evidence from neighboring archeological excavations in southern Africa suggests an association of high-density hominin occupation with this water body.

The Dead Sea fault (DSF) is one of the most active plate boundaries in the world. Understanding the Quaternary history and sediments of the DSF requires investigation into the Neogene development of this plate boundary. DSF lateral motion preceded significant extension and rift morphology by ~10 Ma. Sediments of the Sedom Formation, dated here between 5.0 ± 0.5 Ma and 6.2−2.1 +inf Ma, yielded extremely low 10Be concentrations and 26Al is absent. These reflect the antiquity of the sediments, deposited in the Sedom Lagoon, which evolved in a subdued landscape and was connected to the Mediterranean Sea. The base of the overlying Amora Formation, deposited in the terminal Amora Lake which developed under increasing relief that promoted escarpment incision, was dated at 3.3−0.8 +0.9 Ma. Burial ages of fluvial sediments within caves (3.4 ± 0.2 Ma and 3.6 ± 0.4 Ma) represent the timing of initial incision. Initial DSF topography coincides with the earliest Red Sea MORB's and the East Anatolian fault initiation. These suggest a change in the relative Arabian–African plate motion. This change introduced the rifting component to the DSF followed by a significant subsidence, margin uplift, and a reorganization of relief and drainage pattern in the region resulting in the topographic framework observed today.

New 10Be ages from the summits of three mountain areas of North Wales reveal a very similar exposure timing as the Welsh Ice Cap thinned after the global Last Glacial Maximum. Eight bedrock and one boulder sample gave a combined arithmetic mean exposure age of 19.08 ± 0.80 ka (4.2%, 1σ). Similar exposure ages over a 320 m vertical range (824 to 581 m altitude) show that ice cap thinning was very rapid and spatially uniform. Using the same production rate and scaling scheme, we recalculated six published 10Be exposure ages from the nearby Arans, which also covered a similar elevation range from 608 to 901 m and obtained an arithmetic mean of 19.41 ± 1.45 ka (7.5%, 1σ). The average exposure age of all 15 accepted deglaciation ages is 19.21 ± 1.07 (5.6%, 1σ). The complete dataset from North Wales provides very strong evidence indicating that these summits became exposed as nunataks at 20–19 ka. This result provides important insight to the magnitude of ice surface lowering and behavior of the Welsh Ice Cap during the last deglaciation that can be compared to other ice masses that made up the British-Irish Ice Sheet.

Faecal moisture content can determine whether faeces appear soft or firm, and faecal character can influence whether owners are satisfied with a dog food. In a previous study, dogs appeared to produce softer faeces after noon. The purpose of the present study was to determine whether time of defecation affected canine faecal water content. A total of eight hound dogs were fed one of four canned diets as a single meal each morning for 1 week per diet in a Latin square design. All four diets contained approximately 77 % moisture and, on a DM basis, 24 MJ/kg gross energy, 23 % crude protein, 32 % crude fat, 31 % N-free extract and 1 % crude fibre. The proportion of dietary protein from soya-derived texturised vegetable protein (TVP):beef was 0:100, 14:86, 29:71 and 57:43, respectively. Soya carbohydrate partially replaced maize starch as TVP increased. Faeces were collected by direct catch during the sixth morning and afternoon of each diet period. Mean faecal moisture content was greater in the afternoon than in the morning (79 v. 71 %; P = 0·01) and increased with dietary TVP (P ≤ 0·0001), and there was an interaction between time of day and percentage TVP (P = 0·003). Faecal moisture content differed from morning to afternoon only with TVP in the diet. Faecal wet weight was similar from morning to afternoon. This suggests that time of day and presence of TVP from soya should be taken into account when evaluating the effect of a diet on faecal form and moisture content in dogs fed once daily.