The transcript of the December 11, 2012 TVARS board meeting is now available here. The motions I made to open the meetings to the membership, member voting on benefit concessions, and informing TVA of TVARS’ funding requirements, begin on page 9. Please note especially the excellent e-mail from a retiree in support of open meetings which I read on page 11. No one on the TVARS board would second any of these motions. More information is available on my website here.
In order to protect TVARS members in the event the federal government divests TVA, the TVARS board can clarify in the TVARS rules that COLAs are vested benefits . (See support from Dennis To here .) Time is very critical now that TVA is working with President Obama’s administration on a financial review of TVA which includes the option of TVA being divested from the federal government. (See here .) TVARS could be terminated upon divestiture. It is very important that the TVARS board take steps to safe-guard benefits before this occurs. If system termination occurs while TVARS remains significantly underfunded, TVARS may never be able to achieve fully funded status. Not one of the six other TVARS board members would second the motion I made in June 2012 to clarify that COLAs are vested benefits. Once again, I would be glad to forward any e-mails from you to the entire TVARS board. Please e-mail them to me at ljmuzyn@tva.gov .
Comments
Post a Comment