news-archive

TVARS staff and the TVARS Board are actively monitoring the financial markets, and are in ongoing discussions with our investment consultants and fund managers. TVARS wants to reassure TVA employees and retirees that TVARS has constructed a diverse portfolio that is designed to manage through these volatile times. We maintain liquid assets to ensure benefit payments will be made today and in the future, and we manage long-term to keep the Retirement System sound. TVARS encourages employees to use the same principles in their 401(k) as used in the pension funds, to hold a diversified portfolio of assets, to remain…

Effective Wednesday, March 18, TVARS employees are encouraged to begin working remotely to reduce the number of individuals in our facilities to promote social distancing. We are committed to and will do everything we can to provide you and/or your family with the same level of service and support you are accustomed to during this time. However, we do ask for your understanding in the event that you potentially experience any delays in service. The TVA Retirement System staff will be available by email or phone. Please email retsvcs@tva.gov or call 800-824-3870.

In these challenging times for our nation, your monthly retirement benefit payments are our top priority, and your TVA Retirement System staff is working effectively – and remotely – to continue our mission of service without interruption. During this time of uncertainty about the spread of the coronavirus and the financial markets volatility, I want to assure you that we are actively engaged to manage the TVARS funds to maintain the long-term viability of the System. The TVARS assets are invested in diversified assets managed by well-respected investment professionals with a long record of strong performance through challenging periods like…

America Saves Week Workshop - February 21-25, 2022 The TVA Retirement System (TVARS) wants to ensure that employees are on track with their retirement goals, whether short-term or long-term.  Make the most of America Saves Week and consider increasing your contributions to your TVA 401(k) Plan. America Saves Week is an opportunity for everyday Americans to commit to saving successfully. TVARS encourages you to do a ‘gut-check’ on your finances and saving behaviors. The America Saves pledge is the framework that allows savers to set a goal, and make a plan to achieve better financial stability.  Get more tips During America…

Below is information of interest for employees and retirees from the latest TVARS board meeting held December 5, 2019, in Knoxville.  Cost-of-living adjustment (COLA) for 2020 For 2020, the COLA for eligible retirees and beneficiaries will be 1.54%.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…

Beginning February 2020, TVARS will change the frequency of direct deposit statement mailings. Retirees and beneficiaries will receive a direct deposit statement via mail each January and then each month their deposit amount changes for any reason. This will help TVARS continue to administer the System efficiently and reduce waste. We encourage retirees and beneficiaries to register to view their information online at BNY Mellon. Read more.

The TVA Retirement System (TVARS) is pleased to announce several changes in the TVA Savings and Deferral Retirement Plan (401(k) Plan) that will help save you more money for retirement: a reduction in the Administrative Fee for the 401(k) Plan and lower expense ratios for the Target Retirement Portfolios and the Equity Index Fund in the 401(k) Plan's investment lineup. Read more.

Employees will have an opportunity to vote for one of the four candidates listed below to fill a three-year term on the TVARS Board. The term will run from November 1, 2019, through October 31, 2022. James W. Hovious – Engineer, Generators and Exciters, Power Operations, Chattanooga Julia E. Koella – Accounting Policy & Research Specialist, Corporate Accounting, Financial Services, Knoxville Click on the names above to view detailed candidate information. Election-America, Inc., an independent election firm, will mail election ballots to employees’ home addresses and will also email voting information to employees at work. Employees will be able to…

MeigsIn a special called meeting, the TVA Retirement System (TVARS) board of directors has unanimously selected Mark Meigs as its new Executive Secretary. Mark will succeed Pat Brackett upon his retirement on September 30, 2019 after 37 years at TVA and 9 years serving as the Executive Secretary. “The Executive Secretary position is of critical importance to the TVA Retirement System” said Brian Child, the chair of the TVARS Board. “While we congratulate Pat on his upcoming retirement and recognize his years of dedicated service to TVARS, we are excited to have someone with Mark’s capabilities ready to assume this…

Heading 1 Full-time annual employees may now view their 2019 personalized retirement benefit estimates in PLUS. The estimates include projected retirement information for three dates, including Sept. 30, 2019. How to access your Retirement Estimates online Employees can click here to log into PLUS with their network ID and password. From the PLUS homepage, view your Retirement Estimates from the “Benefits” menu. Please note that some employees will not have retirement benefit estimates to view: Employees who were first hired on or after July 1, 2014 Employees who are in the Original Benefit Structure and were rehired on or after…