Brown Selected for New Term on TVARS Board

The TVA Retirement System (TVARS) Board of Directors held its quarterly meeting on September 13, 2021, and unanimously selected Marilyn Brown, who currently serves as the 7th director on the TVARS Board, to serve a new three-year term as its 7th director. Brown’s new term will run from November 1, 2021 to October 31, 2024. Brown retired in 2018 after a 27-year career with TVA, having last served as senior instrument foreman at Johnsonville Fossil Plant. The TVARS Board consists of seven members: three appointed by TVA, three elected by employees who are TVARS members, and one who is selected…
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TVARS Board Election Results

The TVA Retirement System (TVARS) recently accepted nominations for a three-year term as an elected member of the TVARS board of directors. At the close of the nomination period, the only nomination received was for Michael L. Belcher, who currently serves as an elected director on the board. The TVARS rules and regulations state in the event only one person is nominated for the director position to be filled, the board may declare such nominee elected without the necessity of formal balloting by the membership. Accordingly, the board has approved a resolution declaring Mr. Belcher re-elected as a director of…
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TVA Retirement System Board Approves TVARS Rules Amendment

In June 2021, the TVA Retirement System (TVARS) board approved amendments to Section 7C(3)(b) and Section 17 to the Actuarial Assumptions in the Appendix of the TVARS Rules and Regulations regarding the floor and ceiling in the calculation of the interest crediting rate for Cash Balance accounts of participants hired on or after January 1, 1996, and for Fixed Fund accounts. Please see the Notice of Amendment.
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Nominations for Annual TVARS Board Election Open Through July 6

The TVA Retirement System will accept nominations through Tuesday, July 6, for a three-year term as an elected member of the TVARS board of directors.  The term runs from Nov. 1, 2021, through Oct. 31, 2024. 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. The board holds quarterly meetings and other special-called meetings, as necessary throughout the…
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Navigating the Basics: Learn more about your retirement benefits

How well do you understand your retirement benefits? Test your knowledge by attending the first workshop in the Retirement Building Blocks series: Navigating the Basics. Beginning in June, TVA Retirement System (TVARS) members can attend and learn more about the basics of their retirement benefits along with available services and tools to help with their retirement planning. During this virtual workshop, a TVARS Consultant and Fidelity Retirement Planners will navigate through the following topics: Review of the different TVARS retirement groups Overview of the pension, 401(k) Plan and other benefits How TVARS and Fidelity Investments can assist in your retirement…
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UPDATE: TVA Vetoes TVARS Rules Amendment

At its March 12, 2021, quarterly meeting, the TVA Retirement System (TVARS) board approved an amendment to Section 3(2) of the TVARS Rules and Regulations that would restrict any individual who is or was a participant in TVA’s Supplemental Executive Retirement Plan (SERP) from being eligible to serve as a director on the TVARS board. TVARS presented notice of this amendment to TVA on April 12, 2021, for its review and consideration. The amendment would become effective May 12, 2021, unless vetoed by TVA within 30 days of the notice. On May 6, 2021, TVA provided notice of veto of…
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TVA’s 401(k) Plan Named Best-in-Class

When it comes to preparing employees for retirement, TVA continues to excel. In fact, a leading national publication has just recognized TVA’s 401(k) plan as “Best-in-Class” for a second time. Each year, PLANSPONSOR completes a rigorous review of the nation’s 401(k) plans and names a best-in-class list. TVA made the list for the first time in 2016. In 2021, TVA again joins such venerable names as DuPont, IBM, and Pfizer. “We have one of the best 401(k) retirement plans available,” said Mark Meigs, executive secretary of the TVA Retirement System (TVARS), which administers the 401(k) plan. “We are pleased that…
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