Unions Fight Proposed TVA Pension cuts

Union members who work for the Tennessee Valley Authority (TVA) are fighting a proposed cut in pension benefits both employees and retirees.  TVA officials claim that changes in retirement benefits, which cover more than 33,000 people, are needed to close a funding shortfall. They maintain that if the cuts are not implemented, then the TVA will be forced to raise electric rates in the Tennessee Valley.

Tennessee_Valley_Authority_Logo_(PMS_295_reversed).svgUnion leaders maintain that TVA officials are “lining their pockets” while forcing “austerity” measures on the workers.

The proposed changes include capping cost-of-living and supplemental benefits, and changing future benefit payments to a 401(k) program.

Read more in the TimesFreePress.com HERE.