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Pension Plan Description

A pension is normally a monthly payment that you receive at retirement that is a benefit from the company and is not based on what you have saved or paid into it. Here's how it works:

TVA employees who have at least five years in a full-time annual position will have a vested pension benefit. Your pension benefit is based on the rules for your benefit structure.

See the following documents for frequently asked questions about the pension benefit structures:

Cash Balance Structure FAQ

Original Structure FAQ

Estimate Your Pension Benefit or Account Balance

Several methods are available for checking the balance or payment estimate for your pension.

Cash Balance

The Cash Balance pension benefit is based on your age and your account balance at the time of retirement. This Cash Balance account accumulates credits in the amount of 6% of your base pay on an annual basis. Those credits grow between 6% and 10% annually. For the current calendar year, the interest rate is 6%. When you retire, you may receive a monthly payment from the Cash Balance pension account. For more information on the Cash Balance Benefit Structure and how the interest rate is determined, refer to the Cash Balance Orientation booklet.

Request an Estimate of your pension and other retirement benefits from the Retirement System.

Original Benefit Structure

The Original Benefit Structure pension is not based on an account balance; rather, it is based on a calculation using:

Request an Estimate of your pension and other retirement benefits from the Retirement System.

 

 

 

 

 

 

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