Clement Wins TVARS Board Election

In the recent election for a director vacancy on the TVA Retirement System Board, employees voted to elect Mike Clement, energy services consultant, Energy Services and Programs, Commercial Energy Services, Financial Services, Cleveland, Tennessee. His three-year term will run from Nov. 1, 2023, to Oct. 31, 2026. Of the 2,057 votes cast, Clement received 1,200 (58.3 percent). Scott Haulsee received 857 (41.7 percent).
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Candidates Announced for Annual TVARS Board Election

Employees will have an opportunity to vote for one of the candidates listed below to fill a three-year term on the TVARS Board. The term will run from November 1, 2023, through October 31, 2026. Mike Clement - Energy Services Consultant, Energy Services and Programs, Commercial Energy Services, Financial Services, Cleveland Scott Haulsee - Customer Service Engineer, Customer Relations East, External Relations, Johnson City Click on the names above to view detailed candidate information. Election-America, Inc., an independent election firm, will mail election ballots to employees’ home addresses and will also email voting information to employees at work. Employees will…
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Nominations for Annual TVARS Board Election Open Through July 5

The TVA Retirement System will accept nominations through Wednesday, July 5, for a three-year term as an elected member of the TVARS board of directors.  The term runs from Nov. 1, 2023, through Oct. 31, 2026.  Any employee who is a TVARS member is eligible to run for election. The TVARS board of directors consists of seven members:  three appointed by TVA, three elected by employees who are TVARS members, and one who is selected by the other six and must be a TVA retiree.  The TVARS board is responsible for the administration of the System and the 401(k) Plan.…
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2023 Retirement Benefit Estimates Now Available Online

Full-time annual employees first hired before July 2014 can now view their 2023 personalized retirement benefit estimates in PeopleGateway.  The estimates will include projected retirement information for three dates, including March 31, 2023 and two additional future ages. How to access your Retirement Estimates online From the PeopleGateway dashboard, search for “Retirement Benefit Estimates” in the Search HR Portal box.  You will then click “Retirement Estimates” from the results.  Please note that some employees will not have retirement benefit estimates to view.  They include: Employees who are in the Original Benefit Structure and were rehired within the last five years.…
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Microsoft Authenticator Change

Beginning Monday, Feb. 27, 2023, anyone using Microsoft Authenticator to access secure TVA applications will be prompted to enter the two-digit number displayed on the application’s log-in screen into Microsoft Authenticator instead of tapping “Approve.” Right now, employees tap “Approve” in the Authenticator app to complete the login process for TVA applications. On Feb. 27, when you go to open a secure application, a two-digit number will pop up, and you will need to go to Authenticator and type in the number to continue the login process. Cisco AnyConnect and Citrix will prompt users to enter a six-digit code instead…
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Social Security Benefits Webinar

For employees nearing retirement age, one of the most important financial decisions is when to begin Social Security benefits. To help educate TVA employees about this important retirement planning decision, the TVA Retirement System and Fidelity Investments are co-hosting a virtual webinar presented by a Public Affairs Specialist with the Social Security Administration. Employees have two opportunities to join the webinar and strengthen their confidence in how to maximize their Social Security benefits. More information can be found here.
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Cost-of-living adjustment (COLA) for 2023

For 2023, the COLA for eligible retirees and beneficiaries will be 6%. The TVARS Rules and Regulations provide that eligible retirement benefits (pension and supplemental benefits) will receive a COLA benefit based on a formula using the Consumer Price Index – All Urban Consumers (CPI-U) – an index maintained by the U.S. Labor Department that measures the price changes in a broad group of various goods and services purchased by consumers. Under the TVARS Rules, the COLA is calculated as the percentage change in the average CPI-U for the period of November 2020 – October 2021 to the period November…
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TVARS announces 2023 information on COLA, Interest Crediting Rates, Contribution Limits

TVARS has announced the following 2023 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2023 For 2023, the COLA for eligible retirees and beneficiaries will be 6%. The TVARS Rules and Regulations provide that eligible retirement benefits (pension and supplemental benefits) will receive a COLA benefit based on a formula using the Consumer Price Index – All Urban Consumers (CPI-U) – an index maintained by the U.S. Labor Department that measures the price changes in a broad group of various goods and services purchased by consumers. Under the TVARS Rules, the COLA is calculated as the percentage…
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