Unions object to TVA effort to cut pension benefits

2016-02-01T21:41:52-08:00February 1st, 2016|Categories: Pension Funding|Tags: , |

The biggest labor unions representing employees of the Tennessee Valley Authority are balking at a plan to revamp and trim pension benefits for agency employees and retirees, claiming the utility’s leaders are punishing workers while getting fat paychecks and retirement benefits themselves. But TVA President Bill Johnson insists changes and caps in retirement benefits are needed to close a $6 billion funding shortfall without having to raise electric rates in the Tennessee Valley. […]