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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