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2010 Cost-of-living Adjustment Information
As previously communicated, the TVA Retirement System Board approved amendments to the cost-of-living adjustment (COLA) for the years 2010 to 2013. Based on this temporary change, the COLA will be calculated as follows:
For calendar year 2010, the COLA will be 0%.
For calendar year 2011, the COLA will be the increase in the CPI, capped at 3%
For calendar year 2012, the COLA will be 0%.
For calendar year 2013, the COLA will be the increase in the CPI, capped at 2.5%
At the end of this four-year period, the COLA benefit will be restored to increase in CPI capped at 5%.
The recommended COLA for retirees and beneficiaries for 2010 would have been 0% even if the TVARS Board had not approved this temporary change
Based on the comparison of the CPI percentage change in the period November 2007 to October 2008 to the period November 2008 to October 2009, the CPI change was calculated as a decline of 0.63%. .
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Corrections to the December 2009 issue of TVARA News
Three individuals were identified incorrectly in photo captions in the December 2009 issue of TVARA News.
Melissa and Jerome Lee are the couple in the picture on page 3.
On page 4, the photograph in column 2 is of TVARA Chapter President Charles Smith and his wife, Jewel.
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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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