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In 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…

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, 2014Employees who are in the Original Benefit Structure and were rehired on or after April 1, 2014Employees…

At its December 3, 2018, quarterly meeting, the TVA Retirement System (TVARS) board approved an amendment to Article 7.5 of the TVA Savings and Deferral Retirement Plan (401(k) Plan) adding an in-plan Roth rollover option within the 401(k) Plan beginning April 1, 2019. Please see the Notice of Amendment.

TVARS will accept nominations through Monday, July 9, for a three-year term as an elected member of the TVARS Board of Directors. The term runs from November 1, 2018, through October 31, 2021. Any employee who is a TVARS member is eligible to run for election. The TVARS Board 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. The board holds quarterly meetings…

At its June 15, 2018, quarterly meeting, the TVA Retirement System (TVARS) board approved an amendment to Section 3(2) of the TVARS Rules and Regulations that establishes a term limit for any individual to serve as a director of the TVARS board (whether elected, appointed, or selected) of no more than three full 3-year terms. Please see the Notice of Amendment.

Full-time annual employees may now view their 2018 personalized retirement benefit estimates in PLUS. The estimates will include projected retirement information for three dates, including Sept. 30, 2018. How to access your retirement estimates online: Click here to log in to PLUS with your network ID and password. From the PLUS homepage, view your Retirement Estimates from the “Benefits” menu. Retirement benefit estimates may be unavailable for: Employees who are in the Original Benefit Structure and were rehired on or after April 1, 2013. Employees who were first hired on or after July 1, 2014. Employees who are part-time or…

Evans, et al. v. TVA & TVARS August 12, 2016 Litigation Update Evans v. Tennessee Valley Authority Retirement System and Tennessee Valley Authority On August 12, 2016, the United States Court of Appeals for the Sixth Circuit issued a decision holding that cost-of-living adjustments (“COLAs”) are not vested benefits and, therefore, the 2009 amendments did not violate the TVARS Rules and Regulations (Section 13), which prohibit amendments that reduce vested benefits. In addition, the Sixth Circuit reversed the District Court’s holding that there was no judicial review of the TVARS Board’s actions, and remanded all other issues to the District…