Leonard Muzyn's TVARS Blog

In the recent election for a director vacancy on the TVA Retirement System Board, employees voted to re-elect James W. Hovious.  His new three-year term will run from Nov. 1, 2016, to Oct. 31, 2019.   Of the 2,975 votes cast, Hovious received 2,197 (73.85 percent). Jennifer Weber received 778 votes (26.15 percent). Click here to see Jim Hovious’ candidate information.

As indicated in TVA's presentation at the August 25, 2016 TVA Board meeting, TVA did not veto the amendments approved by the TVARS Board on August 8, 2016. The 30-day period in which TVA could have vetoed them has now passed. Links to Summary Tables of Benefit Changes Changes for employees who first became TVARS members on or after 01/01/1996 and have less than 10 years of TVARS service as of 10/01/2016 Changes for employees who first became TVARS members on or after 01/01/1996 and have 10 or more years of TVARS service as of 10/01/2016 Changes for employees who first became TVARS members before 01/01/1996 and elected to be in the Cash Balance Benefit Structure Changes for employees in the Original Benefit Structure Changes for Retirees Twenty-Year Limit on TVA's Funding Obligations For the next twenty years, TVA's annual funding obligation is limited to the larger of $300 million or the normal cost (1) plus an amount that, if paid 30 years in a row, ...