23 Sep 2024

Two TVARS directors to serve new terms

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In the recent employee election for a director vacancy on the TVA Retirement System Board, employees voted to re-elect Michael L. Belcher, Ops Support Program Manager, TVA Power Service Shop, Muscle Shoals, who has served on the board since Nov. 1, 2018. His new three-year term will run from Nov. 1, 2024, to Oct. 31, 2027. Of the 1,878 votes cast, Mr. Belcher received 1,560 (83 percent). Nelson (Nelly) Richardson, Jr., received 318 votes (17 percent). Also, the TVARS Board recently unanimously voted to select Marilyn G. Brown, who currently serves as the seventh director on the board, to serve…
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02 Feb 2024

TVA Retirement System Board Approves Amendments

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On December 8, 2023, the TVA Retirement System board approved IRS-housekeeping amendments to the TVARS Rules and Regulations and the Provisions of the TVA Savings and Deferral Retirement Plan (401(k) Plan) as required by the Setting Every Community Up for Retirement Enhancement Act of 2019 (SECURE Act), the SECURE Act 2.0, and the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). Please see the Notice of Amendments.
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13 Dec 2023

TVARS announces Cost-of-living adjustment (COLA) for 2024

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For 2024, the COLA for eligible retirees and beneficiaries will be 4.44%. The TVARS Rules and Regulations (TVARS Rules) 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. The COLA is calculated as the percentage change in the average CPI-U for the period of November 2021 – October 2022 to the period November 2022 –…
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21 Feb 2023

Microsoft Authenticator Change

for-retirees
Beginning Monday, Feb. 27, 2023, anyone using Microsoft Authenticator to access secure TVA applications will be prompted to enter the two-digit number displayed on the application’s log-in screen into Microsoft Authenticator instead of tapping “Approve.” Right now, employees tap “Approve” in the Authenticator app to complete the login process for TVA applications. On Feb. 27, when you go to open a secure application, a two-digit number will pop up, and you will need to go to Authenticator and type in the number to continue the login process. Cisco AnyConnect and Citrix will prompt users to enter a six-digit code instead…
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