Lawsuit Update
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…