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Retiree Director Blocks Much Needed TVARS Reforms Again

At the September 12, 2018 TVARS Board meeting, Jim Hovious, Sam DeLay and I continued to push for much needed reforms.  The Board blocked all of our efforts with 4-3 votes.  In every case, the four person majority consisted of the retiree and the three TVA-appointed directors.  The retiree director phoned in for the official meeting, but as has often been the case, did not participate in any Board discussions prior to the official meeting.  The following reforms were either voted down or tabled by the retiree and the three TVA-appointed directors: 

  • Election of the retiree director by all retirees
  • Assure TVARS reaches full funded status per GAO recommendation
  • Public TVARS Board meetings
  • Prohibit the retiree director from TVA business relationships
  • Disqualify any director who participates in TVA’s fully funded Executive Retirement Plan


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