17 Jun 2024

Using your 401(k) for retirement just got easier

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An exciting new retirement income option is coming to the Target Retirement Portfolios in the TVA 401(k) Plan. Beginning June 21, 2024, BlackRock’s LifePath Paycheck will be available to 401(k) participants within new Target Retirement Paycheck Portfolios. Here are three things to know about this new option: Target Retirement Paycheck Portfolios build on the existing suite of Target Retirement Portfolios in the 401(k) Plan, which are designed for participants who prefer a single, professionally managed investment approach and include a diversified allocation of stocks, bonds, and inflation-sensitive investments that are managed by BlackRock to gradually become more conservative as you…
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10 Jun 2024

Nominations for Annual TVARS Board Election Open Through July 8

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The TVA Retirement System will accept nominations through Monday, July 8, for a three-year term as an elected member of the TVARS board of directors.  The term runs from Nov. 1, 2024, through Oct. 31, 2027.  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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23 May 2024

Introducing LifePath PaycheckTM for the TVA 401(k) Plan

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An exciting new retirement income option is coming to the TVA Savings and Deferral Retirement Plan (401(k) Plan) for those who are interested in a paycheck-like income stream similar to a pension. Beginning June 21, 2024, the 401(k) Plan will offer LifePath Paycheck from BlackRock within new Target Retirement Paycheck Portfolios that will provide access to a lifetime income stream for retirement backed by insurers selected by BlackRock.  Please see the Announcement Letter and Notice.
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13 Dec 2023

TVARS Announces 2024 Retirement Benefit Information – 401(k)

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IRS contribution limits for 2024 During 2024, employees will be able to contribute up to $23,000 to the 401(k) Plan on a pre-tax and/or Roth basis, which is an increase of $500 from 2023. Employees who are age 50 or older at any time during 2024 may make additional “catch-up” contributions to the 401(k) Plan of up to $7,500 over the $23,000 limit on a pre-tax and/or Roth basis. Note: There will be 27 pay periods in 2024, so please calculate your contributions accordingly. The overall contribution limit to the 401(k) Plan and the TVARS Fixed and Variable Funds for…
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