News-Stories

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.

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 change in the average CPI-U for the period of November 2020 – October 2021 to the period November…

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…

An open-enrollment period for the retiree dental plan available through Delta Dental of Tennessee will be held from November 1 through December 2.  Coverage will be effective January 1, 2023. Waiting periods may apply. Additional information will be available in the enrollment packages. Enrollment packages will be available on November 1 at www.tva.com/retireeportal (see Health Care Benefits).  Packages will also be available beginning November 1 by emailing Delta Dental at TVAEnrollment@deltadentaltn.com or by calling them toll-free at 833-932-0878. TVA retirees (or spouses of deceased retirees) are eligible to enroll if they receive monthly retirement benefits from the TVA Retirement System,…

The TVA Retirement System (TVARS) recently accepted nominations for a three-year term as an elected member of the TVARS board of directors. At the close of the nomination period, the only nomination received was for Michael A. Blakely II, nuclear unit operator, Browns Ferry Nuclear Plant. The TVARS rules and regulations state in the event only one person is nominated for the director position to be filled, the board may declare such nominee elected without the necessity of formal balloting by the membership. Accordingly, the board has unanimously approved a resolution declaring Mr. Blakely elected as a director of the…

On June 13, 2022, the TVA Retirement System (TVARS) board approved housekeeping amendments to Sections 6R1, 7D3, 7O, and 18B3 of the TVARS Rules and Regulations to align certain death benefit provisions. Please see the Notice of Amendments.

On December 7, 2021, the TVA Retirement System (TVARS) board approved IRS-housekeeping amendments to Articles 8.1, 9.5A, and 9.5B of the Provisions of the TVA Savings and Deferral Retirement Plan (401(k) Plan) regarding hardship withdrawals and use of forfeitures. Please see the Notice of Amendment.

For 2022, TVARS will provide a 3.5% COLA for eligible retirees and beneficiaries, the highest COLA since 2009 as a result of significant increases in the cost of many consumer goods during 2021. 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 Rules, the COLA is…