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Economy Driving TVARS Status TVARS

August 17, 2009

With the economic downturn, the TVA Retirement System (TVARS) is facing financial pressure, like most other retirement systems across the nation. The System’s challenges are compounded given its maturity − the System has approximately 12,000 active members compared to 23,000 retirees.

To address these challenges and help guarantee the long-term health of the TVARS Plan, TVA management and the TVA Retirement System Board have been working on possible solutions and alternatives for months. TVARS engaged Mercer, the System’s actuary, in January 2009 to help identify ways to secure the long-term sustainability of the System.

The TVARS Board met today and agreed to make changes to reduce the liabilities of the System and recommend to the TVA Board that the TVA Board make a contribution to TVARS.

See a report on today’s TVARS Board meeting and the changes approved.

 

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