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A Task Assigned to the TVARS Board

The TVARS board is required to recommend a contribution from TVA to be made in fiscal year 2014 prior to the end of the current fiscal year.  (See Section 9B on pages 51-53 of the rules here.)  Since TVA sets its budget months before the end of the fiscal year, it is imperative that this recommended amount be:
  1. decided upon by the TVARS board as quickly as possible;
  2. sufficient to adequately fund TVARS; and
  3. consistent with the amounts charged to ratepayers for pension expense.
All seven TVARS board members have an obligation to come together to accomplish this.  (See TVARS board members here.)  I sincerely hope we will be able to accomplish this without further rule changes suspending TVA contributions, or further claims that legitimate accrued benefits are not really vested and must be reduced.  I hope we will be able to put an end to our failure to insure that amounts paid by TVA ratepayers for pension expense are used for their intended purpose.  As a TVARS board member, I am very embarrassed that these things happened.

My recent recommendation to my companions on the TVARS board is consistent with what is stated above. (See my recommendation here.)

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