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Full-time annual employees first hired before July 2014 can now view their 2023 personalized retirement benefit estimates in PeopleGateway.  The estimates will include projected retirement information for three dates, including March 31, 2023 and two additional future ages. How to access your Retirement Estimates online From the PeopleGateway dashboard, search for “Retirement Benefit 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 who are in the Original Benefit Structure and were rehired within the last five years.…

For employees nearing retirement age, one of the most important financial decisions is when to begin Social Security benefits. To help educate TVA employees about this important retirement planning decision, the TVA Retirement System and Fidelity Investments are co-hosting a virtual webinar presented by a Public Affairs Specialist with the Social Security Administration. Employees have two opportunities to join the webinar and strengthen their confidence in how to maximize their Social Security benefits. More information can be found here.

TVARS has announced the following 2023 information of interest to employees and retirees. Cost-of-living adjustment (COLA) for 2023 For 2023, the COLA for eligible retirees and beneficiaries will be 6%. The TVARS Rules and Regulations 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. Under the TVARS Rules, the COLA is calculated as the percentage…