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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10 Jun 2024

Nominations for Annual TVARS Board Election Open Through July 8

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The TVA Retirement System will accept nominations through Monday, July 8, for a three-year term as an elected member of the TVARS board of directors.  The term runs from Nov. 1, 2024, through Oct. 31, 2027.  Any employee who is a TVARS member is eligible to run for election. The TVARS board of directors consists of seven members:  three appointed by TVA, three elected by employees who are TVARS members, and one who is selected by the other six and must be a TVA retiree.  The TVARS board is responsible for the administration of the System and the 401(k) Plan.…
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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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