Lawsuit Update - May 11, 2012 -- click on link below:
http://www.tvars.com/mediation_report.htm
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The Year End Review letter sent to all TVA retirees from TVA Retirement Management is listed under Newsletters which is located to the right on this page.
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March 22, 2012
To view the latest report on the TVARS Quarterly Board Meeting please click on the following link:
TVARS Board Updates under the following link, http://www.tvars.com/quarterly_meeting_9-15-2011.htm
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TVARS appoints new Board member. To view further details click on Newsletters and select TVARS Appoints 7th Director.
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The TVA Retirement System (TVARS) Board has heard the concern from the retiree community and leadership regarding the need to have more timely communication regarding TVARS actions. As a result, in cooperation with TVA and TVARA, the TVARS Board is committed to developing and implementing a communication plan during 2011. Their most recent attempt to keep retirees informed was the ‘Year in Review’ letter that was mailed to all retirees in early February. To access this letter, please click on the following link at http://retiree.tva.com/retiree.htm and then click on 2010 Year In Review.
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January 7, 2011:
The Internal Revenue Service is implementing new tax withholding rates for 2011. These new tax rates may increase your tax withholding. You may want to consult your personal tax advisor to determine if you should make changes in your withholding. If you want to change your withholding, you should complete a new Form W-4P. This form is available on the TVA Retirement System website at www.tvars.com, by e-mailing retsvcs@tva.gov, or by calling their office at 1-800-824-3870. The mailing address is TVA Retirement System, 400 W. Summit Hill Drive, Knoxville, TN 37902 or fax the form to 865-632-8591. *******************************************************************************************************************
The TVA Retirement System Board recently approved the 2011 Cost of Living Adjustment (COLA) of 1.15% for eligible retirees.
To view the Frequently Asked Questions and an Explanation of the TVARS COLA from the TVA Retirement System click on "Announcements" from the tool bar above.
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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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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 RICHARD T. WILSON 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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