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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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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TVA Retirement System Board Approves TVARS Rules Amendment

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.
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