""
 
 

TVA Retirement System Board Approves Plan Changes

At a special-called meeting on August 8, 2016, the TVA Retirement System (TVARS) board by a 4 to 3 vote approved final amendments to the TVARS Rules and Regulations and the 401(k) Plan Provisions implementing certain changes to future retirement benefits, funding and governance previously approved at a meeting on May 9, 2016. The effective date of the changes is October 1, 2016. Please see the Notice of Amendments.

At a special-called meeting on May 9, the TVA Retirement System (TVARS) board by a 4 to 3 vote approved amending the TVARS Rules and Regulations and 401(k) Plan Provisions to implement changes related to certain benefits and administration, based on TVA’s compromise proposal dated April 18.

The TVARS board received the original proposal from TVA President & CEO Bill Johnson on December 16, 2015. After two months of discussions and actuarial analysis of various benefits and funding options, the TVARS board approved a counterproposal on March 3, 2016, which was presented to TVA. On April 18, 2016, the TVARS board received a letter from TVA requesting consideration of certain changes to the TVARS counterproposal.

See the links below to review information on how these plan changes impact you.

Changes for employees who first became TVARS members on or after 01/01/1996 and have less than 10 years of TVARS service as of 10/01/2016

Changes for employees who first became TVARS members on or after 01/01/1996 and have 10 or more years of TVARS service as of 10/01/2016

Changes for employees who first became TVARS members before 01/01/1996 and elected to be in the Cash Balance Benefit Structure

Changes for employees in the Original Benefit Structure

Changes for Retirees

 

See previous retirement benefit proposals.

 

 

 

HomeForms and DocumentsBoardContact UsPrivacy PolicyDisclaimer