TVA employees enjoy a competitive list of benefits that offer flexibility to fit their lifestyles and provide peace of mind. With our superb insurance program, generous holidays and leave time, and high quality retirement plan, weve got you covered!
Many employees consider health-care coverage their most important benefit. It gives them the security of knowing they can take care of their own health needs and those of their families. There are different options to meet employees varying needs and employees can change plans during an enrollment period each fall.
TVA offers a choice of two preferred-provider plans with varying levels of coverage. Both options include preventive care, hospital, physician, prescription drug benefits and vision coverage.
Three options are available for dental coverage. Each provides 100% coverage for preventive care services. All options also cover basic and major services at varying levels of reimbursement, and one includes orthodontic benefits for dependent children.
Health Savings Account (HSA) and Health Care Flexible Spending Account (HCFSA)
No matter which health-care plan employees choose, they will have some out-of-pocket expenses for things like deductibles and co-payments. We offer both a Health Savings Account (HSA) and a Health Care Flexible Spending Account (HCFSA). The accounts allow you to use before-tax dollars to pay for certain healthcare expenses for you and your family.
Healthcare Assistance Program
This program provides easy access to information on health maintenance, illness and disease, and other health topics in a voluntary and confidential setting. The program is available to most employees, retirees, and their dependents. Services offered may include a 24-hour nurse line to answer health questions, a Web site for health-information access, and care-management services for those with chronic conditions.
Core Benefits Provided By TVA
TVA provides all annual employees with certain benefits at no cost. Employees have core life insurance ($10,000 employees hired before July 1, 2014 and $50,000 for employees hired after July 1, 2014) and long-term disability benefits equal to 30 percent of their high three-year average salary.
Federal Employees Group Life Insurance (FEGLI)
Most TVA employees are eligible for this term life insurance plan, which is offered to all Federal employees. FEGLI offers varying levels of coverage for employees and dependents.
Supplement Life Insurance
Employees may choose coverage ranging from one to five times their base annual salary. Spouse and/or Child supplemental life insurance coverage is also available under this plan.
Accidental Death and Dismemberment Insurance
TVA offers employees an accidental death and dismemberment policy, with options of one to five times their salary for individual coverage. Employees can also purchase coverage for their spouses in an amount equal to one-half of their own coverage. Dependent coverage of $5,000 or $10,000 per eligible child is also available.
Optional Short-Term Disability
Employees have the option of purchasing Short-term Disability Insurance to replace a portion of their salary during a period of unexpected accident or illness. This plan can help provide financial security and peace of mind.
Optional Long-Term Disability
In addition to the core disability coverage provided by TVA, full-time annual employees may purchase additional disability coverage. This supplement to the core long-term disability plan may provide an additional 35 percent of income, based on the employees high three-year average salary.
Long-Term Care Plan
TVA employees are eligible to enroll in a long-term care insurance plan offered to all Federal employees and retirees by the U.S. Office of Personnel Management. This plan helps with the costs of nursing-home and assisted-living care, in-home care, and other services not covered by medical plans. This plan also offers employees the chance to buy coverage for their spouse, adult children, parents, and spouses parents.
Critical Illness Insurance
Because many expenses incurred as a result of a critical illness, such as a heart attack, stroke, or cancer are indirect, non-medical related expenses, TVA employees can purchase a Critical Illness Insurance plan to supplement the medical and disability plans.
Many TVA jobs are flexible, allowing employees to make adjustments in their work schedules to accommodate family needs or other personal activities.
Working Reduced Hours
There may be times during your career when you need to spend more time with your family, such as after the birth of a child or during a family members illness. TVA offers a program that may allow full-time employees to work part-time under such circumstances. Employee benefits continue as usual.
Dependent-Care Flexible Spending Account
Dependent care is important and can be expensive. The spending account offers you a way to set aside money before taxes that you can then use to pay for eligible dependent care expenses. Generally, the account can be used for dependent children under age 13, but it may also be used for a disabled spouse or parent who lives with you and requires care while you work.
The Employee Scholarship Program provides up to $5,000 per school year and is available to the children of TVA employees below the corporate-officer level. Twelve new scholarships are awarded each year. View additional information.
Employee Assistance Program
TVA provides an Employee Assistance Program (EAP) for TVA active employees and their dependents. EAP provides confidential assistance for a wide range of personal problems. The types of problems addressed include marital, alcohol and drugs, stress, financial, and legal concerns.
HealthCheck Wellness Incentive
Understand your health risk and learn what you can do to be healthier - all the while earning up to $200 off your benefit premiums for the next year.
Employee Assistance Program
TVA provides an Employee Assistance Program (EAP) for TVA active employees and their dependents. EAP provides free confidential assistance for a wide range of personal problems. The types of problems addressed include marital, alcohol and drugs, stress, financial, and legal concerns.
Healthcare Assistance Program
This program provides easy access to information on health maintenance, illness and disease, and other health topics in a voluntary and confidential setting. The program is available to most employees, retirees, and their dependents. Services offered include a 24-hour nurse line to answer health questions, a Web site for health-information access, and care-management services for those with chronic conditions.
Tobacco Cessation Reimbursement Program
A tobacco cessation program provides reimbursement for employees and dependents of employees who participate in approved tobacco cessation programs or use approved tobacco cessation aids offered outside TVA, such as medication for tobacco cessation.
This program offers a variety of options to help TVA employees with commuting expenses. If you work at a TVA location where free parking is not provided, you may be reimbursed up to $50 a month for parking. If you ride in an eligible van pool, you may receive up to $65 a month toward that expense. A third program offers vouchers for public transportation.
TVA helps employees stay technologically current by providing discount programs for home computer and computer accessory purchases. Employees can purchase products directly from Apple, Dell and Hewlett-Packard at discount prices. The other offers employees and retirees the opportunity to purchase surplus TVA computers.
TVA employees are eligible for a wide array of banking discounts, which vary by financial institutions. Such discounts range from free checking and free online banking to discounts on installment loans, mortgages, and student loans. Discounts are provided by to TVA employees by Regions Bank, Bank of America, Tennessee Valley Federal Credit Union, Knoxville TVA Employees Credit Union, and the Muscle Shoals TVA Credit Union.
Services, Discounts, and Special Offers
TVA employees are eligible for a wide array of discounts from various businesses, merchants, and attractions in the Valley.
For more information please visit TVARS.com.
TVA-Funded Pension Benefit
The Cash Balance Benefit Structure provides a TVA-funded pension benefit where pay credits equal to 6 percent of base compensation are made each pay period during employment. This account also receives interest credits each month at a minimum annual interest rate of 6 percent. At retirement, members with at least five years of cash balance service are eligible to have this account balance converted to a monthly payment.
This monthly benefit may be used by eligible retirees and eligible surviving spouses to help with the cost of medical insurance. The amount of this vested benefit is based upon the length of time spent as a member in the TVA Retirement System.
401(k) Savings and Deferral Plan
There are numerous investment options available through TVA’s 401(k) plan, with varying degrees of potential returns and associated risks. TVA provides matching contributions of 75 cents for each dollar contributed on a before- and/or after-tax basis, with maximum matching contributions of 4.5 percent of fiscal year-to-date base compensation. In order to receive the maximum matching contributions, a member must contribute at least 6 percent of their fiscal year-to-date base compensation. A member must have three years of Cash Balance service to be vested in the TVA matching contributions.
Fixed and Variable Funds
In addition to the 401(k) Plan, TVA offers two after-tax investment options consisting of member contributions and earnings on those contributions. The Fixed Fund earns a specified interest rate with interest credited on a daily basis. The Variable Fund is invested in a publicly traded stock index fund which reports its net asset value on a daily basis.
Holidays and Leave Time
Annual paid leave ranges from 13 days to 26 days depending on the length of service. The maximum that can be carried over to the following year is 240 hours. Paid sick leave is 13 days per year. Twelve weeks of unpaid family leave may be taken during any 12-month period.
An employee may transfer a portion of his or her annual leave to a co-worker who has a personal or family emergency.
Ten paid holidays occur each year: New Years Day, Martin Luther King Jr.s Birthday, Presidents Day, Memorial Day, Independence Day, Labor Day, Columbus Day, Veterans Day, Thanksgiving, and Christmas.
TVA offers opportunities for full or partial tuition reimbursement to employees who take courses in high-demand fields that relate to current or future core business needs with the approval of their management.
Training & Development
TVA offers a variety of training and education opportunities that allow employees to continually upgrade their skills and remain competitive in today’s ever-changing workplace. Learn more at the Training & Development site.
The TVA Research Library provides access to a variety of information services at locations in Chattanooga and Knoxville, Tennessee, and Muscle Shoals, Alabama, as well as through TVA’s intranet. The library can assist employees with links to electronic journals, online databases, and topical newsletters focusing on trends in business, the environment, information services, and power generation. Book check-out and interlibrary loans are also available.
TVA is an Equal Opportunity employer and complies with all applicable laws and regulations regarding equal employment opportunities. Any applicant or employee who believes s/he has a discrimination claim (including harassment or retaliation) must contact TVA’s Equal Opportunity Compliance office within 45 calendar days of the event or action s/he believes to constitute discrimination, harassment, or retaliation.
Non-U.S. residents should read TVA's Citizenship Policy.
Individuals interested in claiming veterans’ preference should read the Information for Claiming Veterans’ Preference.