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 L. Belcher, who currently serves as an elected director on the board. 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 approved a resolution declaring Mr. Belcher re-elected as a director of…
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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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The People First Experience goes live
August 2, 2021

Experience new and improved HR support at TVA. Coming Aug. 2, we’re launching an integrated technology and people-focused strategy to better meet your human resource and health care benefits needs. Direct Online Access through PeopleGateway provides simple, intuitive, secure, and responsive tools to serve your needs at home and on-the-go. Access information that matters most to you such as benefits or engage with “Ask Norris” the interactive chat feature. Reach out by phone or live chat to our team of TVA specialists in the People First Solution Center from 7am-7pm ET weekdays to obtain fast, consistent and efficient responses from…
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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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Introducing People First – enhanced TVA Human Resources support

TVA is its people – from our retirees that paved the way and the 10,000 employees working daily to keep the lights on, to the future generations that will carry on our mission of service. That’s why it’s important for our TVA and the human resources (HR) team to put YOU first in everything we do. Achieving this means redefining our services to align with leading practices so the right teams, with the right capabilities, deliver the right HR support.  We call this People First.  Coming in 2021 Later this year, you can access two new resources – PeopleGateway and the People First Solution Center –  to…
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Board Meeting—12/8/2020

The TVA Retirement System Board of Directors (Board) held its quarterly meeting December 8, 2020, virtually via WebEx with business conducted through the Board’s Investment, Audit, Retirement and Election committees. All current TVARS Board directors were present: Brian Child, Chair; Mike Belcher, Marilyn Brown, Eric Davis, Sam DeLay, Jim Hovious and Tina Wallace. This was the first Board meeting for Marilyn Brown, who was unanimously selected to serve as the 7th Director retiree on the TVARS Board for the remainder of the current term for the position that runs through October 31, 2021. Following nominations, the Board voted on officers…
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TVARS announces 2021 information on COLA, Interest Crediting Rates, Contribution Limits

TVARS has announced the following 2021 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2021 For 2021, the COLA for eligible retirees and beneficiaries will be 1.13%.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 percentage…
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Cost-of-living adjustment (COLA) for 2021

For 2020, the COLA for eligible retirees and beneficiaries will be 1.13%.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 percentage change in the average CPI-U for the period of November 2018 – October 2019 to the period November…
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