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Old 03-05-2016, 12:30 PM   #1
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This might be interesting !

Caution pensioners ! Lot of TVA retirees in my neck of the woods and can't wait to hear their views on this.

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Old 03-05-2016, 01:19 PM   #2
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A snippet

On Thursday, the board of the Tennessee Valley Authority Retirement System, the pension program for roughly 11,000 workers and 24,000 retirees at the venerable New Deal-era agency, approved a tentative plan to lower the systemís funding shortfall by reducing benefits.The plan will be implemented later this year if the T.V.A.ís management and board go along with it.

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Old 03-05-2016, 01:44 PM   #3
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The only thing I saw affecting current pensioners is a reduction in COLA. My pension system did that my first year in retirement over 4 years ago, reducing it from yearly CPI, to 2% fixed unless CPI was over 5%. The ironic part is this "reduction" has given me bigger yearly raises because CPI was been below 2%. This year CPI was 0.12%, so instead of getting that tiny amount we got the 2% fixed. I hope they can continue coming up with more "reductions" like this that gives me more money.

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Old 03-05-2016, 02:17 PM   #4
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Our COLA was also already removed after my first year of retirement due to severe underfunding of the state pension. It will be reinstated once funding levels reach 100% which isn't going to happen in my lifetime
And whatever your labors and aspirations in the noisy confusion of life, keep peace in your soul. With all its sham, drudgery, and broken dreams, it is still a beautiful world. Be cheerful. Strive to be happy.- Desiderata by Max Ehrmann
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Old 03-05-2016, 02:46 PM   #5
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I couldn't find anything about a traditional DB pension formula (ie 1% * Final Average Salary * years of service) and how it would be effected.

I wonder if they converted everyone over to the hybrid/cash balance plan in the past.

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