09 Aug 2022

TVARS Board Election Results

for-active-members, for-retirees, home-page
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…
Read More
09 Dec 2021

TVARS announces 2022 information on COLA, Interest Crediting Rates, Contribution Limits

for-active-members, home-page
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…
Read More
06 Jul 2021

TVA Retirement System Board Approves TVARS Rules Amendment

for-active-members, for-retirees, home-page
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.
Read More