Michael L. Belcher Wins TVARS Board Runoff Election

In the recent election for a director vacancy on the TVA Retirement System Board, employees voted to elect Michael L. Belcher, reactor unit operator, TVA Nuclear, Browns Ferry Nuclear Plant. His three-year term will run from Nov. 1, 2018, to Oct. 31, 2021.

Of the 3,265 votes cast, Belcher received 1,798 (55.1 percent). Julia E. Koella received 1,467 votes (44.9 percent).

TVA Retirement System Board Approves Amendment

At its June 15, 2018, quarterly meeting, the TVA Retirement System (TVARS) board approved an amendment to Section 3(2) of the TVARS Rules and Regulations that establishes a term limit for any individual to serve as a director of the TVARS board (whether elected, appointed, or selected) of no more than three full 3-year terms. Please see the Notice of Amendment.

Voluntary 401(k) Election Opportunity

Amendments to the TVARS Rules and Regulations and 401(k) Plan Provisions were recently approved that will allow Cash Balance employees to voluntarily elect future participation and retirement benefits in the 401(k) Plan only.

Employees with a Cash Balance Account will have an opportunity from July 1 to August 31, 2018 to choose to stop receiving Cash Balance pension benefits and instead shift their retirement benefits to the 401(k) Plan beginning October 1, 2018. This offer is intended to provide employees more flexibility in future financial planning and the ability to choose the retirement benefits that are best for them.

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Retirement Benefit Estimates Online

Full-time annual employees may now view their 2018 personalized retirement benefit estimates in PLUS. The estimates will include projected retirement information for three dates, including Sept. 30, 2018. all-prevalency.

Nominations for Annual TVARS Board Election

TVARS will accept nominations through Monday, July 9, for a three-year term as an elected member of the TVARS Board of Directors. The term runs from November 1, 2018, through October 31, 2021. weeping golden bell or (651) 335-2078.

TVA Retirement System Board Approves Amendments

At a May 23, 2018, special-called meeting, the TVA Retirement System (TVARS) board approved amendments to the TVARS Rules and Regulations and 401(k) Plan Provisions that will provide TVA employees with cash balance accounts the option to voluntarily elect to switch their future participation to the 401(k) Plan only and the additional option to transfer their existing cash balance accounts to the 401(k) Plan. Please see the Notice of Amendment.

7th Director Vacancy Announcement

The TVA Retirement System Board is accepting resumes through June 29, 2018 for its 7th director position. 2058682599.


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