TVA ratepayers to pay for pension shortfall

- 2 for 1 on 3 Deal of the Week

Working Together For You

Posted:

By Pam Sohn, Chattanooga Times Free Press - bio

CHATTANOOGA, TN (Times Free Press) -- When investment markets tanked in 2008 and TVA's pension fund took a nearly $2 billion dive, the tab for making sure there was enough money to cover commitments to 24,000 retirees fell to electric ratepayers.

Fully funded, TVA's retirement plan should total $11.5 billion.

Instead, it now stands at $7 billion.

TVA has infused it with almost $1.3 billion since 2009 -- ratepayer money.

Read more from our news partners at the Chattanooga Times Free Press.

NewsMore>>
Local agencies shell out big bucks to help Patten Towers residents
Local agencies shell out big bucks to help Patten Towers residents
Updated: Tuesday, June 18 2013 6:23 PM EDT2013-06-18 22:23:22 GMT
Channel 3 did the math. The Salvation Army's expenses are somewhere between $15,000 and $20,000 and PK Management wrote a check for $7,000.More >>
Channel 3 did the math. The Salvation Army's expenses are somewhere between $15,000 and $20,000 and PK Management wrote a check for $7,000.More >>
Ants invasion: Ola Phipps protecting one home at a time
Ants invasion: Ola Phipps protecting one home at a time
Updated: Tuesday, June 18 2013 5:50 PM EDT2013-06-18 21:50:14 GMT
It has been a wet and rainy spring so far, which has probably been good for your garden or your lawn. But the rain is keeping local exterminators busy, keeping pests outside.More >>
It has been a wet and rainy spring so far, which has probably been good for your garden or your lawn. But the rain is keeping local exterminators busy, keeping pests outside.More >>
Local nurse accused of stealing drugs from hospital
Local nurse accused of stealing drugs from hospital
Updated: Tuesday, June 18 2013 5:40 PM EDT2013-06-18 21:40:17 GMT
A Hamilton County nurse is accused of stealing drugs from the hospital where she worked.More >>
A Hamilton County nurse is accused of stealing drugs from the hospital where she worked.More >>

Follow @wrcb

WRCBtv.com Hot ListWRCBtv.com Hot ListMore>>
UPDATE: Man attacks Athens group with machete
UPDATE: Man attacks Athens group with machete
Updated: Tuesday, June 18 2013 6:00 PM EDT2013-06-18 22:00:36 GMT
A night of drinking turned dangerous early Sunday morning when four people were attacked with a machete in Athens.More >>
A night of drinking turned dangerous early Sunday morning when four people were attacked with a machete in Athens.More >>
Daycare workers drugged kids with spiked pancakes
Daycare workers drugged kids with spiked pancakes
Updated: Tuesday, June 18 2013 9:20 AM EDT2013-06-18 13:20:36 GMT
A home daycare operator is accused of crushing medications and supplements, including melatonin and an antihistamine, used for the purpose of causing drowsiness.More >>
A home daycare operator is accused of crushing medications and supplements, including melatonin and an antihistamine, used for the purpose of causing drowsiness.More >>
A two-year-old learns to walk again with her new legs
A two-year-old learns to walk again with her new legs
Updated: Tuesday, June 18 2013 1:12 PM EDT2013-06-18 17:12:50 GMT
A child who lost her feet after a lawn mower accident walks again for the first time.More >>
A child who lost her feet after a lawn mower accident walks again for the first time.More >>
UPDATE: Chrysler bows to pressure from Feds and recalls 2.7 million Jeeps
UPDATE: Chrysler bows to pressure from Feds and recalls 2.7 million Jeeps
Updated: Tuesday, June 18 2013 3:41 PM EDT2013-06-18 19:41:02 GMT
Car companies rarely spar publicly with the National Highway Traffic Safety Administration, the agency that monitors auto safety.More >>
Car companies rarely spar publicly with the National Highway Traffic Safety Administration, the agency that monitors auto safety.More >>
Tennessee combats wild hogs with high-tech tools
Tennessee combats wild hogs with high-tech tools
Updated: Tuesday, June 18 2013 12:22 PM EDT2013-06-18 16:22:19 GMT
Wildlife officers use remote HD cameras – HogWatch -- to conserve habitat, protect agricultural crops and save taxpayers money.More >>
Wildlife officers use remote HD cameras – HogWatch -- to conserve habitat, protect agricultural crops and save taxpayers money.More >>
UPDATE: Three former Pilot employees plead guilty
UPDATE: Three former Pilot employees plead guilty
Updated: Tuesday, June 18 2013 3:45 PM EDT2013-06-18 19:45:30 GMT
Federal agents descended on Pilot headquarters in Knoxville in April with a search warrant in an ongoing probe of fuel rebate rip-offs.More >>
Federal agents descended on Pilot headquarters in Knoxville in April with a search warrant in an ongoing probe of fuel rebate rip-offs.More >>
Niota loses liability insurance for second time this year
Niota loses liability insurance for second time this year
Updated: Tuesday, June 18 2013 9:00 AM EDT2013-06-18 13:00:28 GMT
The Tennessee Municipal League temporarily extended Niota's insurance in April, but it refuses to do it again until changes are made.More >>
The Tennessee Municipal League temporarily extended Niota's insurance in April, but it refuses to do it again until changes are made.More >>
Georgia Police and Fire Games will close Dalton roads Saturday
Georgia Police and Fire Games will close Dalton roads Saturday
Updated: Tuesday, June 18 2013 10:14 AM EDT2013-06-18 14:14:11 GMT
The Georgia Police and Fire Games began in 1985, mirrored by such events in states such as New York and California. The competition has grown from less than 300 the first year to over 1,000 participant.More >>
The Georgia Police and Fire Games began in 1985, mirrored by such events in states such as New York and California. The competition has grown from less than 300 the first year to over 1,000 participant.More >>
US to begin meetings with Taliban
US to begin meetings with Taliban
Updated: Tuesday, June 18 2013 10:42 AM EDT2013-06-18 14:42:22 GMT
The Taliban's move to open a political office Tuesday in Doha is seen a stepping stone to full Taliban renouncement of al-Qaida.More >>
The Taliban's move to open a political office Tuesday in Doha is seen a stepping stone to full Taliban renouncement of al-Qaida.More >>
Tennessee teachers go to school on new standards
Tennessee teachers go to school on new standards
Tennessee education officials are training teachers from across the state on how to implement a new set of uniform benchmarks for math and reading.More >>
Tennessee education officials are training teachers from across the state on how to implement a new set of uniform benchmarks for math and reading.More >>

TVA ratepayers to pay for pension shortfall - WRCBtv.com | Chattanooga News, Weather & Sports

TVA ratepayers to pay for pension shortfall

NewsMore>>

WRCBtv.com Hot ListWRCBtv.com Hot ListMore>>