Leonard Muzyn's TVARS Blog

From: Muzyn, Leonard J Jr [mailto:ljmuzyn@tva.gov] Sent: Monday, January 11, 2016 10:59 AM To: Troyani, Anthony L Jr ; Stokes, Allen E ; Wilson, Tammy W ; Hoskins, John M ; Child, Brian M Cc: Hovious, James W ; Leonard Muzyn (home) Subject: Why you should not vote for Bill Johnson's Proposal Tony, Allen, Tammy, John and Brian, I want to make it very clear that I will not vote for Bill Johnson’s proposal and that I am doing everything I can to convince you to vote against it.  I believe my fiduciary duty requires me to do this.  Please see some of my reasons below.  I gave a two hour presentation to the TVARA Board in Nashville last Wednesday asking the TVARA Board to recommend a vote against Bill Johnson’s proposal.  Jim Hovious agreed and also participated in this meeting.  I have attached that presentation.  I am not copying any lawyers on this e-mail because I want to make sure this e-mail is discoverable when the inevitable lawsuits fo...

TVA has asked the TVARS Board to vote this month on a proposal to permanently reduce pension benefits: prior to a ruling from the Sixth Circuit Court of Appeals on the 2009 benefit reductions in a way the TVARS Board has already determined is in violation of TVARS rules and regulations in a way that would be illegal if TVA's pension plan was covered by laws that other pension plans must follow which could lead to lawsuits from system beneficiaries against each individual TVARS Board member who votes to approve the proposal with the vote on the proposal highly likely to be in TVA's favor given TVA's de facto control over the TVARS Board with TVA asking for retiree and employee feedback without agreeing to make all of it public, enabling it to be selectively divulged or ignored I gave a presentation to the Board of the Tennessee Valley Authority Retirees' Association on January 6, 2016 in Nashville, TN explaining many of these items in further detail.  Please v...