TVARS Board Recommends Contribution for 2010 (Source TVA Today, June 10, 2009)
Report on TVA Retirement System Meeting Update (Source TVA Today, June 4, 2009)
Message from Frank Alford, Chairman of the TVA Retirement System Bd - Please click underlined link to read (Source TVA Today, May 22, 2009)
TVA Recognizes the Challenges Facing TVARS (Source TVA Today, May 21, 2009)
Retiree Nominee for TVA Retirement System Board (Source Tony Troyani, Director, TVA Retirement System Board, May 12, 2009)
A printed copy of the annual report has been mailed to employees at their work address and to retirees at their home address.
Employees who have questions about this report or any other retirement-related topic can call or e-mail Retirement Services (e-mail: retsvcs@tva.gov; phone: 632-2672, 1-800-824-3870 or the TTY line at 632-7576).
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THE FOLLOWING IS A TVA RETIREMENT SYSTEM UPDATE AS OF MARCH 26, 2009
NEW TAX WITHHOLDING RATES
The calculation of income tax withholding on pension and annuity income has been revised due to the American Recovery and Reinvestment Act of 2009. If your tax withholding is calculated using your current marital status and number of allowances, the result will be a lower tax withholding on your March 2009 retirement check. If your tax withholding is based on a flat dollar amount, no changes will be made to your current tax deduction. If you need to make a modification to your current tax withholding, you can find the W-4P tax form at our website at www.tvars.com or you can call our office at 1-800-824-3870 to request a new W-4P form.
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FOR ADDRESS CHANGES NOTIFY: TVA Retirement System, 400 W. Summit Hill Drive, Knoxville, TN 37902 or
Call toll-free 1-800-824-3870
FOR INFORMATION REGARDING PENSION BENEFITS & 401(K) ACCOUNTS: Call TVA Retirement System toll-free 1-800-824-3870 or visit the website @ www.tva.gov/retireeportal
FOR MEDICAL AND DRUG COVERAGE: Call Employee Service Center toll-free @ 1-888-275-8094
FOR TVARA MEMBERSHIP CONTACT GEORGE JACOBS AT 865-632-8542
FOR NEWSLETTER INFORMATION: Contact tvara@tva.gov or call 865-632-3318, or contact your local TVARA Chapter President.
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12/10/08 Update on Consumer-Directed Health Plan and Health Savings Account for 2009
Employee Benefits reminds participants in the CDHP who are eligible for a Health Savings Account next year that they must open up the accounts with First Horizon in order to receive TVA's contribution to the accounts. As of December 10, there is a significant number of retirees who elected the CDHP who have not yet opened their accounts with First Horizon. TVA cannot make its contribution after the first of the year if the retiree has not opened an account.
To enroll online--or to print an enrollment form for fax or mailing to First Horizon--go to www.firsthorizonhsa.com/tvaretiree. To request an enrollment form or for other questions about enrolling in the HSA, please call First Horizon Msaver Customer Care at 1-888-355-6124 between 8 am and 6:30 pm eastern time.
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The cost of living adjustment 4.45 % was approved by the TVA Retirement System Board on December 12, 2008.
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THE FOLLOWING IS A TVA RETIREMENT SYSTEM BOARD UPDATE AS DISTRIBUTED IN TVA TODAY ON NOVEMBER 13, 2008
TVA 401(k) Plan To Have Lower Management Fees/Expenses on Select Fidelity Funds
The TVA Retirement System Board is pleased to announce that 29 of the Fidelity mutual funds in the 401(k) Plan will have lower management fees and expenses starting later this month. For those who currently have money invested in any of these funds, the changeover will automatically occur at 4 p.m. EST Nov. 21, 2008.
As investment partners, TVARS and Fidelity are continuously looking for ways to assist retirees in meeting their financial goals. Lowering management fees and expenses will increase the net investment returns in these funds.
Fidelity Investments, the administrator and recordkeeper of the 401(k) Plan, will be sending a letter within a week to each employee and retiree who has a 401(k) Plan balance to provide a list of the 29 funds that are affected by this change.
The lower management fees and expenses will result from the changeover to a new type of share class, referred to as “K Shares.” The change to K Shares will not affect the investment strategy or risk of these 29 funds.
Note: Employees and retirees who are invested in any of these funds do not need to change their fund-choice elections in order to take advantage of the lower-cost K Shares. Future contributions to these selected funds will automatically be to the new lower-cost K Shares.
The TVARS Web site at www.tvars.com includes a link to these funds.
Questions?
TVARS and Fidelity hope the letter retirees soon receive will provide them with all the information they need to understand this new benefit.
However, anyone who has questions should contact Retirement Services (1-800-824-3870, retsvcs@tva.gov).
Participants in the 401(k) Plan or in TVARS’s fixed and variable funds can click here and log into their NetBenefits to access up-to-date articles and information regarding the financial sector.
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