Leonard Muzyn's TVARS Blog

From Thursday's TVA Board meeting: A 50/50 chance TVA pension is properly funded in 20 years. Click here to see all the slides concerning TVARS presented at the Thursday August 25, 2016 TVA Board meeting. 

Announcement of Candidates Employees who are TVARS members will elect a director from the two candidates listed below for a three-year term on the TVARS Board. The term will run from November 1, 2016, through October 31, 2019. James W. Hovious – Systems Engineer, Generators, Power Operations, Chattanooga Jennifer R. Weber – Senior Program Manager, FERC Compliance & Regulation, Transmission & Power Supply, Chattanooga Click on the names above to view detailed candidate information. Everyone Counts, Inc., an independent election firm, will handle the voting process this year.  Election ballots and instructions will be mailed to employees’ home addresses, and employees will also receive voting information at work by e-mail directly from Everyone Counts. The election will be open from August 29-September 14 (24 hours a day, 7 days a week). The election will close on September 14 at 4:45 EDT. Employees will be able to vote by phone or online. For customer service d...

Click here to see the decision.

On August 8, 2016, the TVARS board passed by a 4-3 vote the actual amendments to the rules implementing the changes the board approved by the same 4-3 vote on May 9, 2016.  They will take effect in 30 days if not vetoed by TVA.  I stated the following during the meeting: I will vote against these amendments.  I believe that all TVARS Board members have a duty to place the interests of TVARS, an independent government entity established in 1939 with the full support of previous TVA managements, above those of current TVA management. These amendments will dramatically increase TVARS’ financial risk. TVARS now has just half of the funds it needs to meet its obligations to TVA employees.  These amendments do not provide a commitment from TVA to improve the funded status.  Instead, they reduce the minimum amount TVA is required to fund over the next twenty years to levels well below those required by law of other utilities.  TVARS will be subsidizing T...