16 Dec 2024

TVARS Announces 2025 Retirement Benefit Information

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TVARS announces the following 2025 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2025 For 2025, the COLA for eligible retirees and beneficiaries will be 2.77%. 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). This index, maintained by the U.S. Labor Department 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…
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13 Dec 2024

Haulsee Wins TVARS Board Special Election

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In the recent special election for a director vacancy on the TVA Retirement System Board, employees voted to elect Scott Haulsee, Customer Service Engineer, Customer Relations East, Customer and Community Relations, Johnson City. His term runs through Oct. 31, 2025. Of the 1,655 votes cast, Haulsee received 1,050 (63.4 percent). Julia Koella received 605 votes (36.6 percent).
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01 Nov 2024

Lori Stenger Appointed to TVARS Board

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TVA CEO Jeff Lyash has appointed Lori Stenger to the TVA Retirement System Board effective November 1, 2024. Lori will replace Brian Child on the TVARS Board. Lori has served in various leadership roles in Financial Services and currently serves as TVA’s Director of Enterprise Forecasting & Financial Planning. In this role, Lori is responsible for TVA’s annual budget, long-range financial plan, and load, economic, commodity, and revenue forecasts. Before joining TVA, Lori worked in wealth management, holding Series 7 and 63 licenses in the state of Tennessee. Lori has a BS in Computer Science from UT Chattanooga and an…
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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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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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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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03 Apr 2024

2024 Retirement Benefit Estimates Now Available Online

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Employees eligible for a TVARS pension benefit can now view their 2024 personalized retirement benefit estimates in PeopleGateway. The estimates will include projected retirement information for three dates, including April 5, 2024, and two additional future ages. How to access your Retirement Estimates online From the PeopleGateway dashboard, search for “Estimates” in the Search HR Portal box. You will then click “Retirement Estimates” from the results. Please note that some employees will not have retirement benefit estimates to view. They include: Employees hired on or after July 1, 2014 whose benefits are all in the 401(k) Plan. Employees who are…
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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 2024 Retirement Benefit Information

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TVARS has announced the following 2024 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2024 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…
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