Feel more confident about your finances

Join TVARS and Fidelity during America Saves Week for any or all of these educational web workshops, where you'll learn strategies and tips to help you manage your financial future with confidence. REGISTER NOW Identify and Prioritize Your Savings Goals If you want help saving for multiple goals: Get strategies and tips on prioritizing and funding your specific savings goals, like buying a new home or car, saving for a child’s college, and more.February 22, 2021 at 10:00 AM ET Manage Unexpected Events and Expenses With the current economic conditions, you may be evaluating how to make ends meet. This…
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WordPress Instruction for TVARS site

Create a news story Select “Posts” in the left sidebar and then select “Add New”Enter page title where it says, “Add Title” (you can copy and paste)Paste body text where it says, “Start writing…”Subheads should be styled as Heading 2. Use the menu in the top left corner of the text block to changeTo make the story appear on the pages you want, select the categories by checking the boxes for the page or pages you want in the right sidebar. If you don’t see the list of categories, click on the Word document at the top of the sidebar.…
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HSA vs HCFSA

Enroll in a Health Care Flexible Spending Account (HCFSA) or Health Savings Account (HSA) during Open Enrollment and save money with tax-free deductions. Which option is best for you? Both Health Savings Accounts (HSAs) and Health Care Flexible Spending Accounts (HCFSAs) let you set aside tax-free dollars each year to pay your out-of-pocket health care expenses such as deductibles, co-pays, the cost of prescription medications, and other products and services. However, there are several important differences, and you can only enroll in the HSA if you are enrolled in the Consumer Directed Health Plan (CDHP). When deciding which medical plan…
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Nominations for Annual TVARS Board Election

The TVA Retirement System will accept nominations through Monday, July 6, for a three-year term as an elected member of the TVARS board of directors.  The term runs from Nov. 1, 2020, through Oct. 31, 2023.  Any employee who is a TVARS member is eligible to run for election. Download the Nominating Petition and Candidate Information Form. The TVARS board of directors 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…
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What to Expect After Retirement

Retirement Payments 1st check — 6-8 weeks Partial month Direct-depositedNo deductions other than Federal Employees Group Life Insurance (FEGLI) 2nd payment — End of month after 1st check Full monthDirect-deposited May include 2-3 deductions for medical insurance, since you pay one month in advance for insurance 3rd payment — End of month Normal deductions Healthcare credit applied, if eligible* Remainder — Last business day of month Dental insurance premiums will begin with the 4th payment, if applicable *Any retroactive Healthcare Credit may either be applied to your medical insurance deduction or be issued as a refund check. For more information,…
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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 bnym.accessmyretirement.com. Read more.
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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…
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