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.
Within the next couple of months, the TVARS board must vote on a contribution amount to recommend that TVA make in fiscal year 2014. In conjunction with the contribution amount, it is possible the vote will include amendments to the rules. In conjunction with the contribution amount in 2009, the rules were amended to: suspend contribution requirements and related actuarial valuations for four years (Section 9B9); suspend the requirement that part of the contribution go to the “excess COLA account,” which was designed to accumulate and grow funds to be used for payment of future COLAs (Sections 9B9, 10D1 and 10D2); and reduce legitimate accrued pension benefits (Sections 6I, 7L and 18C3). The vote in 2009 was not open to observation, and unless the TVARS board takes action, neither will the vote this year. Not one of the six other TVARS board members would second the motion I made in December to open TVARS meetings to observation. All that is required to open future boa...
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