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Plan for the Worst and Hope for the Best


I believe it is critical that the TVARS board specify in the rules that the COLAs are "non-forfeitable" vested benefits as soon as possible BEFORE any divestiture discussions take place.  TVA has communicated for several years now that it believes COLAs are "forfeitable," or not vested.  TVA’s “understanding” could be “baked in” any divestiture discussions if the TVARS board does not act quickly.  I do not know the probability of divestiture occurring, but I believe the TVARS board should protect the members of the system by planning for the worst and hoping for the best. 

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