TVA Today:
Daily news for employees

Monday, September 22, 2003

TVA Board OKs $22.5-Million Contribution to Retirement System
The TVA Board of Directors recently approved a contribution of about $22.5 million to the TVA Retirement System for fiscal year 2004. This contribution only funds pension benefits and is in addition to matching contributions of about $16 million TVA will make to the 401(k) plan.

Before the start of each new fiscal year, the Retirement System Board, based on information provided by its independent actuary, makes a recommendation to the TVA Board of the rate at which TVA should contribute to the system over the next fiscal year.

Based upon the valuations provided by its actuary, the Retirement System Board recommended that a contribution of 2.66 percent of payroll – or about $22.5 million - by TVA for the upcoming fiscal year would be appropriate.

Following this recommendation by the TVARS Board, the TVA Board approved a contribution to the system in that amount.

Knoxville Tech Society Meeting Today
The Technical Society of Knoxville will meet at 11:30 a.m. today at the Radisson Summit Hill in Knoxville.

Dr. Jonathan W. Sowell, an Ophthalmologist with University Eye Surgeons, will present A Brief History of Phacoemulsification: Revolution in Cataract Surgery.

Guests are welcome. Lunch is optional and is available to members and guests for $10, which includes free parking at the hotel. For more information, call Peter Scheffler at 632-8040 or Phil Dodson at 632-6535.

Chattanooga Engineers Club Meeting Today
The Chattanooga Engineers Club will meet at noon today at the Read House in downtown Chattanooga.

Laura Tew and TVA’s Ed Colucci representing the Hamilton County Coalition for Mathematics & Science Excellence will discuss the EducationEQUATION initiative to sharpen students’ math and science skills, which will give them an edge in the marketplace. The presentation will emphasize a new Web site being developed in partnership with The New Economy Institute.

A buffet lunch for $10 will be available for attendees beginning at 11:30 a.m. Free parking (for those who leave a notice on their dash indicating they are with the Chattanooga Engineers Club) is available for attendees at the Day's Inn on Carter Street.

Reservations are not required, and guests are welcome. For more information, call Richard Smith at 751-7024 or Brad Baucom at 648-3582.