America Saves Week – February 21-25, 2022

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…
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TVARS Update December 2019

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…
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Going Green with your Direct Deposit Statements

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.
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TVARS Announces Lower Fees for 401(k) Plan

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.
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Announcement of Candidates

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…
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TVARS Board selects new Executive Secretary

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…
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Now Available: 2019 retirement benefits estimates

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…
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TVARS Board selects new Executive Secretary

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…
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Now Available: 2019 retirement benefits estimates

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…
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TVA Retirement System Board Approves 401(k) Plan Amendment

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.
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