Senator Alexander's office contacted Daniel Pitts to say that Senator Alexander is asking for a response from TVA. Senator Alexander is asking for a response to the apparent discrepancy between the amounts charged ratepayers and the amounts actually contributed to TVA's pension. Click here to see the letter Daniel Pitts sent to Senator Alexander, Senator Corker, and Congressman Duncan. As of February 8, 2013, Daniel Pitts had not received a response from TVA. Click here to see the letter Daniel Pitts sent to TVA's President and CEO.
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 .
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