Dedicated, hardworking TVA employees deserve to know the retirement benefits they have worked for all these years will be there when they need them, especially during these uncertain economic times. The current underfunding of the Tennessee Valley Authority Retirement System (TVARS) could affect retirees.

 

Recently, my senior staff met with TVA officials about the solvency of the retirement system and the proposed cuts. We have been told that TVARS will recommend TVA contribute $300 million to the pension fund in the FY 2010 budget.

 

While I have no direct say in the TVA Board decision, I will be following this closely and use the influence I have to encourage the Board to protect the retirement fund.