TVARS Board responsibilities – Bylaws:  https://tvars.com/wp-content/uploads/Bylaws.pdf

TVARS Board members:  https://tvars.com/tva-retirement-system-board-of-directors/

Annual Reports:  https://tvars.com/tva-retirement-system-board-of-directors/  Also see “Archived Files” at same link for older Annual Reports.

Meeting Minutes:  https://tvars.com/tva-retirement-system-board-of-directors/  Also see “Archived Files” at same link for older Meeting Minutes.

Claims and Appeals:
    Pension and Annuity::  https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 20)

    401(k)::  https://tvars.com/wp-content/uploads/provisions_401k.pdf  (Article 13)

Original Plan – Pension and Fixed Annuity: https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf   (See Section 6)

Variable Annuity:  to https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (See Section 16)

Cash Balance:  to https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (See Section 7)

Defined Contribution-Only:  to https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 2 – #5 and #6)  and https://tvars.com/wp-content/uploads/provisions_401k.pdf   (Article 9.5 – A and B)

401(k):  https://tvars.com/wp-content/uploads/provisions_401k.pdf

https://tvars.com/wp-content/uploads/retirement_milestones.pdf

Where COLA’s apply (CPI-U minus 0.25%):

       Pension – YES
       Annuity – NO

Supplemental Benefit: 

       Larger Supplemental Benefit – COLA:

                If retired after December 31, 1998 – until Maximum of $12.3657 per month per year of actual service
                If retired on or before December 31, 1998: see https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 18 A)

       Smaller Additional Benefit – COLA – Up to $150

Note:  For employees with less than 10 years of service as of October 1, 2016, service was frozen.  https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 18 C-2)

Upon death of retiree, the surviving spouse does not receive the extra Level Income Plan payment, but also does not take the reduction after age 62. 

Supplemental benefit – extra pension for those qualified paid from TVARS assets.  Was originally added to assist with Medical Insurance payments.

Health Care Credit – a credit from TVA for those qualified to assist with Medical Insurance payments.

Medicare Supplement – a medical plan to compliment Medicare to cover extra expenses that Medicare does not pay.

Spouse impact: continues if greater than 25 percent of pension

For those retiring on or before December 31, 1998:  https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 18 A)

For those retiring after December 31, 1998:  https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 18 B)

Note:  For employees with less than 10 years of service as of October 1, 2016, service was frozen. see https://tvars.com/wp-content/uploads/tvars_rules_regs.pdf  (Section 18 C-2)

Spouse Impact:  If retiree dies the balance must roll out, preferably to a tax sheltered vehicle such as an after-tax IRA. Contact TVARS ASAP.

Adding new beneficiaries (such as new spouse or child):  Contact TVARS ASAP.

Avoiding penalties is possible, even when withdrawing from 401(k) before age 59-½, however, penalties can be significant if this is not done properly. 

• Basic – Base salary at retirement rounded up to next $1,000 plus $2,000 Optional – Additional coverage depending on election at retirement
• Age 65 impact – Coverage may reduce and premiums stop, depending on election at retirement. 
• If you paid premiums for FEGLI before age 65, we recommend you call TVARS before your 65^th birthday (or as soon as possible after 65) in order to fully understand your post-65 coverage and post-65 payments (if any).  To emphasize the importance of this: 1. You may have coverage you do not know you have after 65, since some or all the premium payments stopped being withheld;   2. You may not have the coverage you thought you had after 65, due to the reduction choices you made at retirement;  3. You may wish to reduce your coverage when you know what the premium increases will be at 65 or any age at 5 year intervals.
• In Module 7 of Decisions Upon Retirement, published by TVARS, you can read about which FEGLI options there were to choose from at retirement, if the retiree was eligible for FEGLI. 
• Here is the link: https://tvars.com/wp-content/uploads/decisions_upon_retirement.pdf
• Since the premium costs and/or coverage of the FEGLI typically will change with each 5^th year birthday, such as when you turn 60, 65, 70, 75, etc., look for correspondence from TVARS a few weeks before those particular birthdays.  Contact TVARS at 800-824-3870 or 865-632-2672 with questions about your particular FEGLI coverage or your named beneficiaries.
• If the retiree has FEGLI coverage, but the spouse or any named beneficiary dies before the retiree, contact TVARS as soon as you can, since the retiree may need to change or review beneficiaries.   In order to revise beneficiaries, you must complete a Form SF 2823 and send it to the Office of Personnel Management in Washington, DC.