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TVA: pension fund short of full funding

CHATTANOOGA — A financial report by the Tennessee Valley Authority shows its employee pension fund remains $3.6 billion short of completely funding future obligations.

That’s despite TVA infusing it by a record $1 billion dollars.

The Chattanooga Times Free Press reported the study also noted the fund’s investments had the best return in the past three years.

Current and former employees of TVA have sued the government-owned utility, upset over the capping of cost-of-living benefit increases and suspension of contributions to the pension fund.

TVA says nearly 23,000 retirees currently receive pension benefits from the fund, amounting to about $600 million per year.

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