The March 2017 final order and judgment in the TVA pension lawsuit has been appealed to the United States Court of Appeals for the Sixth Circuit. See the notice here.
This is my personal blog to facilitate communication among TVA employees, retirees and beneficiaries who are members of TVARS and who wish to preserve their retirement benefits. Please join my site and post your comments. I have been an elected member of the TVA Retirement System (TVARS, or the system) board of directors since 2003. I am not speaking officially for the TVARS board of directors or TVA management. TVARS is an entity legally independent of TVA. Three of the board members are TVA employees (including myself), three are appointed by TVA management (currently all TVA executive managers), and the seventh is generally a retired TVA employee (appointed by the other six). As TVA employees, we all have a duty of loyalty to carry out directives issued by TVA management in our regular TVA jobs. However, each board member has a fiduciary duty to all the members of the system when performing TVARS duties. This fiduciary duty legally supercedes our duty of loyalty to carry out di...
Is this lawsuit a lawsuit suing tvars over them reducing our retirement benefits?? Specifically us only having a 401k now?
ReplyDeleteYes, the lawsuit stems from the benefit reductions made in 2009, and the outcome could affect all the changes TVA and TVARS has made since then.
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