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Before 1996 Cash Balance

For employees who first became TVARS members before 1/1/1996 and elected to participate in the Cash Balance Benefit Structure

Your Retirement Benefits at a Glance

Cash Balance Account

The value of your cash balance account is the sum of your pay credits plus interest credits. Each month, your cash balance account receives pay credits equal to 6% of your eligible compensation. This account also receives interest credits until retirement. Upon termination, you have the option to receive the entire cash balance account balance in a lump sum or draw a monthly pension benefit. You are vested for this benefit when you have 5 years of cash balance service.

Supplemental Benefit

This benefit is provided to eligible retirees and eligible surviving spouses and is intended to help with the cost of retiree medical insurance. The amount of this vested benefit is based upon the length of time spent as a member in the TVA Retirement System. Read more about the supplemental benefit.

401(k) Savings and Deferral Plan

TVA contributes 75 cents to your account for each dollar you contribute to the plan. The maximum annual matching contribution from TVA is 4.5% of your eligible compensation. You must contribute a minimum of 6% annually to be eligible to receive the full employer match. You are immediately vested in any contributions you make and any earnings on your contributions. Additionally, you are vested in matching contributions from TVA and any earnings after 3 years of TVA service. Read more at Fidelity

Fixed and Variable Funds

These funds consist of your contributions (and the earnings on those contributions) to one or both of two after-tax investment options--the Fixed Fund and the Variable Fund. You are eligible to contribute to these funds unless you have transferred fund balances to the 401(k) Plan on or after 5/1/2005, in which case you may never again make contributions to these funds. At retirement, you may elect a lifetime monthly benefit from these funds or you may elect to transfer these funds out of TVARS. Read more at Fidelity      

 

Related information

Your Retirement Benefits

Aon Hewitt Cash Balance Calculator

 

 

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