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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Retiree Dental Plan Open Enrollment November 1 – December 2

An open-enrollment period for the retiree dental plan available through Delta Dental of Tennessee will be held from November 1 through December 2.  Coverage will be effective January 1, 2023. Waiting periods may apply. Additional information will be available in the enrollment packages. Enrollment packages will be available on November 1 at www.tva.com/retireeportal (see Health Care Benefits).  Packages will also be available beginning November 1 by emailing Delta Dental at TVAEnrollment@deltadentaltn.com or by calling them toll-free at 833-932-0878. TVA retirees (or spouses of deceased retirees) are eligible to enroll if they receive monthly retirement benefits from the TVA Retirement System,…
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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 A. Blakely II, nuclear unit operator, Browns Ferry Nuclear Plant. 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 unanimously approved a resolution declaring Mr. Blakely elected as a director of the…
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Nominations for Annual TVARS Board Election Open Through July 5

The TVA Retirement System will accept nominations through Tuesday, July 5, for a three-year term as an elected member of the TVARS board of directors. The term runs from Nov. 1, 2022, through Oct. 31, 2025. Any employee who is a TVARS member is eligible to run for election. Download the Nominating Petition and Candidate Information Form. 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…
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Cost-of-living adjustment (COLA) for 2022

For 2022, TVARS will provide a 3.5% COLA for eligible retirees and beneficiaries, the highest COLA since 2009 as a result of significant increases in the cost of many consumer goods during 2021. The TVARS Rules and Regulations provide that eligible retirement benefits (pension and supplemental benefits) will receive a COLA based on an inflation measure, which is 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…
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TVARS announces 2022 information on COLA, Interest Crediting Rates, Contribution Limits

TVARS has announced the following 2022 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2022 For 2022, the COLA for eligible retirees and beneficiaries will be 3.5%. The TVARS Rules and Regulations provide that eligible retirement benefits (pension and supplemental benefits) will receive a COLA based on an inflation measure, which is 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…
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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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