Leonard Muzyn's TVARS Blog

The TVARS board filed documents with the court yesterday requesting that the Court grant Plaintiffs' Motion as to the vesting of COLAs.  The TVARS Board stated in the filing that the 2009 Amendments to the TVARS Rules reduced vested COLA benefits .  The TVARS Board stated that the Rules are ambiguous, but that the Rules' language and extrinsic evidence both show that all COLAs were and are vested benefits .  The TVARS Board also requested that the Court schedule a Conference to determine remedies if the Court grants Plaintiffs' Motion as to the vesting of COLAs. See TVARS' Response to the two Motions for Summary Judgment filed by the Plaintiffs and TVA  here .  See TVARS' Statement of Additional Relevant Facts here . See the Declaration of Patrick D. Brackett here .  See TVARS' Response to TVA's Statement of Undisputed Material Facts here .  See TVARS' Response to Plaintiffs' Statement of Undisputed Material Facts here . If the Court agrees that

It's all about the lack of contributions from TVA. The investment performance has been above average over most time frames we measured. Unfortunately, the chart probably makes TVA look better than it really was compared to the others in 2014 because it is on a fiscal year.  Interest rates were significantly higher at the end of fiscal year 2014 than they were at the end of calendar year 2014.