News-Stories

The TVA Retirement System Board of Directors (Board) held a special called meeting November 16, 2020 virtually via WebEx and unanimously voted to elect Marilyn Brown as the 7th Director on the TVARS Board for the term which runs through October 31, 2021. All current TVARS Board directors were present: Brian Child, Chair; Sam DeLay, Vice-Chair; Mike Belcher, Eric Davis, Jim Hovious, and Tina Wallace. Marilyn Brown retired in 2018 from Johnsonville Fossil Plant as Senior Instrument Foreman with twenty-seven years of service. The Board members look forward to working with her soon as she attends the next quarterly meeting…

In the recent election for a director vacancy on the TVA Retirement System Board, employees voted to re-elect Samuel J. L. DeLay, senior program manager, Energy Use Technology, Operational Research & Support, Innovation & Research, Chattanooga. His new three-year term will run from Nov. 1, 2020, to Oct. 31, 2023. Of the 2,728 votes cast, DeLay received 1,508 (55.3 percent). Wesley M. Conkle received 660 (24.2 percent); Julia E. Koella received 560 votes (20.5 percent).

With the market’s recent downturns, you may be concerned about the retirement savings you’ve worked so hard to build potentially being in jeopardy. Fidelity has created a new webinar to help you navigate the uncertainty and answer some of your most important financial questions. The Navigating Market Volatility webinar will answer questions such as: • Should I change how I’m invested to something less risky? • Should I move to cash right now? • How do I pull my money out of the market? • Why should I put more into my retirement savings plan? Three classes will be offered…

TVA CEO Jeff Lyash has appointed Eric Davis to the TVA Retirement System Board effective April 1, 2020. Eric will replace Tammy Wilson on the TVARS Board.   Eric has 20 years of finance and investment experience at TVA and holds the Chartered Financial Analyst (CFA) designation. He currently serves as the Senior Manager, Investments in Treasury responsible for the management of TVA’s investment trust assets, including the Nuclear Decommissioning Trust and Asset Retirement Trust. Eric previously served in TVARS from 2010 to 2013. Tammy Wilson has served on the TVARS Board in various roles since May 10, 2010, including recently…

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 [email protected] 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.