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October 31 - My last day on the TVARS Board due to 4 to 3 Vote

I served five consecutive three-year terms as an employee-elected director of the TVA Retirement System (TVARS) from November 1, 2003 through October 31, 2018. This blog contains my personal opinions and not official opinions of the full seven member TVARS board or TVA management.

I worked very hard during my terms to keep TVA employees and retirees informed of matters that could affect their system and their benefits. I voted and campaigned against the two TVA last minute “take it or leave it” proposals for benefit reductions in 2009 and 2016. These were both approved by 4 to 3 votes without TVARS board deliberations, negotiations, or attempts to form a consensus.

I repeatedly proposed proper funding per industry best practices and GAO recommendations, public board meetings, open elections among all retirees for the retiree 7th director position, and rules to keep board members free of conflicts of interest arising from contractual TVA relationships and TVA executive retirement benefits. I was gaining support for these proposals when the retiree and TVA-appointed directors voted 4 to 3 to change the rules so that I could not run for re-election in 2018.

Comments

  1. jackie kayOctober 28, 2018 at 3:09 PM

    Thank You Leonard for your dedication and hard work on the TVA retirement board. You did an excellent job of keeping both employees and retirees informed. You were always available to your supporters and informed us of what was really going on. I think you took a lot of "heat" over the years from TVA management, but you never backed down and stood for what was right. I really not surprised that they found a way to get rid of you permanently because you were gaining support for legitimate concerns. My favorite quote from C.S. Lewis that comes to mind is this one - " No clever arrangement of bad eggs will make a good omelet'.

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  2. Steve KeeverOctober 28, 2018 at 5:49 PM

    I agree completely with the previous comments. I appreciate all your hard work and efforts to protect our retirement benefits, strengthen the system and keep us informed on all issues and decisions concerning the retirement system. You always fought hard for all members but were unfortunately outnumbered on the Board. Thank you for your years of exceptional service.

    ReplyDelete
  3. A.D. WadeOctober 28, 2018 at 5:58 PM

    I shook your hand one morning at Watts Bar back when you were first running for the position. My first impression of you was that you were a stand-up guy, that seemed serious about the job. Thankfully, that impression was spot-on. I know of nothing else you could have done differently, or better in order to achieve as good of results as you did for the TVA Retirees. Kudos on a job well done, in the midst of very difficult circumstances! (i.e. The board running CONTINUAL interference to block any pro-retiree changes to the system, during the time you served.)

    I don't know what your current aspirations are or where you're setting your next goal(s) for, but I imagine you'll be highly successful again. Just the fact you did what you said you were going to (i.e. represent all retirees to the best of your ability), speaks volumes about your integrity. The number one quote that comes to my mind (and probably what the TVA Board was thinking all along) is: "Please don't cloud the issue with facts."

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