TVA Retirement System Board of Directors

Established in 1939, the TVA Retirement System is a defined benefit plan covering most full-time and part-time annual employees.

The system is a separate legal entity from TVA and is administered by a seven-member Board of Directors. Three of the directors are appointed by TVA, and three are elected by and from the membership. A seventh director is selected by the other six. The System Board also has responsibility for the administration of the TVA Savings and Deferral Retirement Plan [401k Plan].

Retirement Management Business Objective

Administer the TVARS Rules and Regulations, manage the pension trust for the sole and exclusive benefit of employees, retirees and beneficiaries, and provide TVARS Board, TVA Board, TVA employees and retirees with informative and timely data to make informed decisions.


Elected by Members

photo of Hovious photo of Belcher photo of Delay
James Hovious
Elected 11/01/2013
Michael Belcher
Elected 11/01/2018
Sam Delay
Elected 11/01/2017


Appointed by TVA

photo of Child photo of Tammy Wilson photo of Tina Shelton
Brian Child
Appointed 09/19/2013
Tammy Wilson
Vice chair
Appointed 05/10/2010
Tina Shelton
Appointed 08/19/2019


Selected by Board Members

7th Director Retiree Vacant


Standing Committees

Investment Committee

(committee of the whole board)
Tammy Wilson – Chair

Election Committee

Mike Belcher – Chair
Sam DeLay
Tina Shelton

Audit Committee

Tina Shelton – Chair
Jim Hovious
Tammy Wilson

Retirement Committee

Jim Hovious – Chair
Mike Belcher
7th Director






Board Minutes (transcripts available upon request

6/6/19, 4/12/19, 3/7/19, 12/3/18, 9/12/18, 3/29/18, 5/23/18, 6/15/18, 7/31/18, 4/27/18, 1/23/18, 12/4/17, 10/30/17, 9/7/17, 6/15/17, 3/6/17, 12/8/16, 9/8/16, 8/8/16, 6/16/16, 5/9/2016, 3/3/2016(1), 3/3/2016(2), 12/10/2015, 9/18/2015, 7/30/15, 7/24/15, 6/19/15, 3/6/153/4/15, 12/5/14, 9/11/14, 7/14/146/20/144/11/143/14/14, 12/13/13, 9/12/13, 7/19/13, 6/28/13, 3/15/13

Annual Reports

2018, 2017, 2016, 2015, 2014, 2013, 2012, 2011

Governance Policies

Investment Policy Statement

Succession Plan Policy

401k Investment Policy Statement

Service Provider Evaluation and Interaction Policy

Ethics and Code of Conduct Policy

Board Self Evaluation Policy

Executive Secretary Evaluation Policy

Director Election Selection Policy

Governance Policy

Board Education Policy

Confidentiality Policy

Travel Policy

Documents of Interest

(PDF files)

TVARS Rules and Regulations

Provisions of Savings & Deferral Plan


Audit Committee Charter

Election Committee Charter

Investment Committee Charter

Retirement Committee Charter

Important Events in TVARS History



Archived files





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