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Tennessee Valley Authority Savings & Deferral Retirement Plan
Welcome to the TVA Savings & Deferral 401(k) Retirement Plan. The 401(k) Plan is a great way to save for your retirement.
Choose from the tiers of investments below. Tiers are distinct categories designed to simplify your investment choices. At any time, you may use investments from any and all tiers.
When and Why:
Depending on your plan, there are two options to consider: Target Date Funds which are based on an anticipated retirement date and Target Allocation Funds that are based on a risk tolerance and time horizon.
Note: The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate, therefore you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Click on an investment to view quarter end returns, risk, fees and expenses. 1,2,3,4.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
TARGET RET INCOME
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2025
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2030
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2035
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2040
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2045
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2050
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2055
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2060
Inception Date 10/01/2019 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
TARGET RETIRE 2065
Inception Date 09/12/2022 |
Blended Investments* |
N/A |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
When and Why:
The Passively Managed Funds are for participants who are comfortable choosing from funds which seek to provide investment results that correspond to the total return of a specific index or market segment.
Note: The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate, therefore you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Click on an investment to view quarter end returns, risk, fees and expenses. 1,2,3,4.
You may lose money by investing in a money market fund. Not all money market funds operate the same way and depending on the fund, you may be subject to certain operating policies and risks not applicable to other money market funds. Please click on the name of the fund below for risks specific to that fund.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
BLKRK EQUITY INDEX
Inception Date 11/05/2020 |
Stock Investments |
Large Cap |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
BLKRK RUSSELL 2500
Inception Date 11/05/2020 |
Stock Investments |
Small Cap |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
BLACKROCK ACWI EX-US
Inception Date 11/05/2020 |
Stock Investments |
International |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
BLKRK US DEBT INDEX
Inception Date 11/05/2020 |
Bond Investments |
Income |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
-- |
When and Why:
The Actively Managed Funds are for participants with a significant investing experience who are comfortable choosing from a broad range of fund choices that reflect different styles and goals.
Note: The performance data featured represents past performance, which is no guarantee of future results. Investment return and principal value of an investment will fluctuate, therefore you may have a gain or loss when you sell your shares. Current performance may be higher or lower than the performance data quoted. Click on an investment to view quarter end returns, risk, fees and expenses. 1,2,3,4.
You may lose money by investing in a money market fund. Not all money market funds operate the same way and depending on the fund, you may be subject to certain operating policies and risks not applicable to other money market funds. Please click on the name of the fund below for risks specific to that fund.
INVESTMENTS | ASSET CLASS | CATEGORY | AVERAGE ANNUAL TOTAL RETURNS | CUMULATIVE RETURNS | ||||||
---|---|---|---|---|---|---|---|---|---|---|
1 Yr |
3 Yr |
5 Yr |
10 Yr |
Life |
3 Mon |
YTD |
As of Date |
|||
FID GR CO POOL CL F
Inception Date 12/13/2013 |
Stock Investments |
Large Cap |
46.47% |
10.84% |
22.32% |
18.77% |
18.99% |
15.86% |
9.79% |
03/31/2024 |
TRP LARGE-CAP VAL I
Inception Date 03/31/2000 |
Stock Investments |
Large Cap |
21.13% |
8.21% |
10.89% |
9.37% |
8.61% |
8.73% |
3.74% |
03/31/2024 |
WM BLAIR SMID GR CIT
Inception Date 05/01/2012 |
Stock Investments |
Mid-Cap |
21.90% |
1.17% |
9.91% |
11.15% |
12.57% |
8.90% |
-0.50% |
03/31/2024 |
DFA US TARGET VALUE
Inception Date 02/23/2000 |
Stock Investments |
Small Cap |
23.64% |
9.72% |
13.19% |
8.77% |
11.21% |
4.63% |
-3.33% |
03/31/2024 |
HRDG LVNR INTL EQ A
Inception Date 07/02/2012 |
Stock Investments |
International |
8.61% |
0.22% |
6.59% |
5.98% |
7.35% |
1.55% |
-2.60% |
03/31/2024 |
BTC STR COMP NL M
Inception Date 09/01/2011 |
Blended Investments* |
N/A |
3.48% |
1.69% |
3.08% |
2.29% |
2.21% |
0.04% |
-3.10% |
03/31/2024 |
MIP II CL 3
Inception Date 04/20/1993 7 day yield % as of 03/31/2024: 2.30 ** |
Bond Investments |
Stable Value |
2.05% |
1.65% |
1.83% |
1.80% |
3.58% |
0.54% |
0.66% |
03/31/2024 |
LS CORE PLUS BOND F
Inception Date 03/24/2023 |
Bond Investments |
Income |
2.28% |
-- |
-- |
-- |
2.73% |
-0.12% |
-2.95% |
03/31/2024 |
VANG CR FED MM ADM
Inception Date 10/03/1989 7 day yield % as of 03/31/2024: 5.29 ** |
Short-Term Investments |
Other |
5.33% |
2.65% |
2.04% |
1.46% |
2.98% |
1.32% |
1.59% |
03/31/2024 |
Self-Directed Brokerage
A self-directed brokerage account allows you to make investments beyond those offered in your workplace retirement savings plan.
For more information or to open a self-directed brokerage account, first enroll in your Fidelity workplace retirement savings plan. Then visit www.netbenefits.com > Quick Links > BrokerageLink where you can open an account or review additional information, including the commission schedule for applicable fees and risks.
BrokerageLink includes investments beyond those in your plan's lineup. You should compare investments and share classes that are available in your plan's lineup with those available through BrokerageLink, and determine the available investment and share class that is appropriate for your situation. The plan fiduciary neither evaluates nor monitors the investments available through BrokerageLink. It is your responsibility to ensure that the investments you select are suitable for your situation, including your goals, time horizon, and risk tolerance.
Learn the plan basics - including eligibility - of each retirement savings plan offered by your employer.
You will be automatically enrolled in the plan in 30 days, unless you choose to enroll earlier, or opt out. A 6% pre-tax salary deduction will be invested in the plan on your behalf in one of the Target Retirement Portfolio funds with the target retirement date closest to the year you might retire, based on your current age and assuming a retirement age of 65, as directed by the plan sponsor. Unless you elect otherwise, this amount will allow you to receive the full employer matching contribution. Log onto NetBenefits® or call Fidelity at 1-800-354-7121 to enroll.
Contributions are deducted in the following order until your election amounts or allowable limits are reached:
(1) pre-tax, (2) Roth, (3) after-tax.
Click here to view the annual contribution and "Catch-Up" limits for the year: IRS DOLLAR LIMITS
Your contributions to the TVA 401(k) Plan (on a pre-tax, Roth and after-tax basis), the Fixed and Variable Funds, and TVA matching and any employer automatic contributions may not exceed the Maximum annual contribution limit for the year, click here to view IRS DOLLAR LIMITS. The plan allows you to contribute 100% of your eligible compensation.
If you first became a TVARS member prior to January 1, 1996, and did not elect to participate in the Cash Balance Benefit Structure.
Participants are eligible to receive matching contributions to the 401(k) Plan of 25 cents on the dollar (the maximum matching contribution is 1.5% of fiscal-year-to-date base compensation). Therefore, if you contribute at least 6% of your pay, you will receive 1.5% total contribution from TVA for a total savings/deferral rate of 7.5%.
If you first became a TVARS member prior to January 1, 1996, and elected to participate in the Cash Balance Benefit Structure.
Participants are eligible to receive matching contributions to the 401(k) Plan of 75 cents on the dollar (the maximum matching contribution is 4.5% of fiscal-year-to-date base compensation). You must contribute a minimum of 6% annually to be eligible to receive the full employer match. Therefore, if you contribute at least 6% of your pay, you will receive 4.5% total contribution from TVA for a total savings/deferral rate of 10.5%.
If you first became a TVARS member on or after January 1, 1996, and have 10 or more years of TVARS service as of October 1, 2016.
TVA will provide an automatic non-elective contribution equal to 3% of your eligible compensation. In addition, TVA will contribute 75 cents to your account for each dollar you contribute to the plan. The maximum annual matching contribution from TVA is 4.5%, and is based on your eligible compensation. You must contribute a minimum of 6% annually to be eligible to receive the full employer match. Therefore, if you contribute at least 6% of your pay, you will receive 7.5% total contribution from TVA for a total savings/deferral rate of 13.5%.
If you first became a TVARS member on or after January 1, 1996, and have less than 10 years of TVARS service as of October 1, 2016.
TVA will provide an automatic non-elective contribution equal to 6% of your eligible compensation. In addition, TVA will contribute one dollar to your account for each dollar you contribute to the plan. The maximum annual matching contribution from TVA is 6%, and is based on your eligible compensation. You must contribute a minimum of 6% annually to be eligible to receive the full employer match. Therefore, if you contribute at least 6% of your pay, you will receive 12% total contribution from TVA for a total savings/deferral rate of 18%.
If you first became a TVARS member on or after July 1, 2014, or were rehired after July 1, 2014 and were previously not vested or received a pension benefit cashout.
TVA will provide an automatic non-elective contribution equal to 4.5% of your eligible compensation. In addition, TVA will contribute 75 cents to your account for each dollar you contribute to the plan. The maximum annual matching contribution from TVA is 4.5% for EABS participants, and is based on your eligible compensation. You must contribute a minimum of 6% annually to be eligible to receive the full employer match. Therefore, if you contribute at least 6% of your pay, you will receive 9% total contribution from TVA for a total savings/deferral rate of 15%.
A Roth contribution to your retirement savings plan allows you to make after-tax contributions and take any associated earnings completely tax free at retirement - as long as the distribution is a qualified one. A qualified distribution, in this case, is one that is taken at least five tax years after your first Roth 401(k) contribution and after you have attained age 59½, or become disabled or die. Through automatic payroll deduction, you can contribute between 1% and 100% of your eligible pay as designated Roth contributions, up to the annual IRS dollar limits.
If you are age 50 or older, you have the ability to make additional contributions to your plan, up to the current IRS dollar limits. View the limits here: IRS DOLLAR LIMITS
A managed account is designed for people who prefer to have Fidelity manage their money for them, so they can focus on other aspects of their life.
Your employer gives you the opportunity to have a team of Fidelity professionals propose an investment strategy aligned to your personal goals and situation. Fidelity Personalized Planning & Advice monitor your investments, and make adjustments as your life and the world around you changes-helping to keep you on track to retirement. This service provides discretionary money management for a fee and you may cancel at any time with no cancellation fee.
Learn more and get a free review of your portfolio by speaking with a Fidelity representative at 866-811-6041.
Fidelity Personalized Planning & Advice at Work is a service of Fidelity Personal and Workplace Advisors LLC and Strategic Advisers LLC. Both are registered investment advisers, are Fidelity Investments companies and may be referred to as "Fidelity," "we," or "our" within. For more information, refer to the Terms and Conditions of the Program. When used herein, Fidelity Personalized Planning & Advice refers exclusively to Fidelity Personalized Planning & Advice at Work.
This service provides advisory services for a fee.
You are immediately vested in any contributions you make and any earnings on your contributions. Additionally, participants are 100% vested in matching and any employer automatic contributions from TVA and any earnings after three years of TVA service.
Your beneficiary or beneficiaries will inherit your account in the event of your death. You should consider identifying a beneficiary when you enroll in your plan, and updating the information if you experience a life-changing event such as a marriage, divorce, birth of a child, or death in the family.
Fidelity's Online Beneficiaries Service, available through NetBenefits® offers a straightforward, convenient process that takes just minutes.
Go to 'Profile' in the navigation bar at the top of your NetBenefits® page and click on the 'Summary tab' and then 'Beneficiaries'.
If you are younger than age 59½ and still employed by TVA, you must show evidence of financial hardship to qualify for a withdrawal. If your hardship withdrawal is granted, you will be suspended from making contributions to the plan for six months, including contributions to the Fixed and Variable Funds that are offered through the TVA Retirement System.
The taxable portion of your withdrawal that is eligible for rollover into an individual retirement account (IRA) or another employer's retirement plan is subject to 20% mandatory federal income tax withholding, unless it is rolled directly over to an IRA or another employer plan. (You may owe more or less when you file your income taxes.) If you are under age 59½, the taxable portion of your withdrawal is also subject to a 10% early withdrawal penalty, unless you qualify for an exception to this rule. To learn more about and/or to request a withdrawal, log on to Fidelity NetBenefits® or call the Fidelity Retirement Benefits Line at 1-800-354-7121. The plan document and current tax laws and regulations will govern in case of a discrepancy. Be sure you understand the tax consequences and your plan's rules for distributions before you initiate a distribution. You may want to consult your tax adviser about your situation.
Although your plan account is intended for the future, you may borrow from your account for any reason. Generally, you can borrow up to the greater of your total vested account balance (if your balance is under $10,000) or one-half of your total vested account balance (subject to an overall IRS limit of $50,000, reduced by the highest outstanding loan balance during the previous 12 month period).
The minimum you may borrow is $1,000. In addition, you may have only one loan outstanding at any time and you must wait 60 days after paying off a loan before taking a new loan. Loan repayments (plus interest) to your plan account are made automatically through aftertax payroll deductions. You may prepay your loan in full, penalty free. Loans will cost $50 to set up, and there will not be a maintenance fee.
Call Fidelity Investments at 1-800-354-7121 to initiate a loan, or log on to your account on Fidelity NetBenefits® and click on Savings & Retirement Loans or Withdrawals. Checks are generally mailed five to seven business days after the loan has been approved.
Note: If you fail to repay your loan (based on the original terms of the loan), it will be considered in "default" and treated as a distribution, making it subject to income tax and possibly to a 10% early withdrawal penalty. Defaulted loans may also impact your eligibility to request additional loans. Be sure you understand the Plan guidelines and impact of taking a loan before you initiate a loan from your plan account.
A Participant Administrative Fee of $11.75 per quarter ($47 per year) will be charged on a quarterly basis to the accounts of all participants in the Plan. The $11.75 charge will appear on your quarterly statement. This administrative fee is subject to change.
If you have retirement savings in another employer's plan or in an IRA, consolidating accounts may help make it easier to manage your savings but there are several options. Be sure to consider all your available options and the applicable fees and features of each before moving your retirement assets.
If you're not sure about the best option for you, talk to a Fidelity representative today. They can explain each option in greater detail so you can make the best choice for your specific needs.
Online, on the phone, or in person, you have access to your account the way you want it. Log in online to NetBenefits® virtually 24/7 or call Fidelity at 1-800-354-7121 to speak with a representative or use the automated voice response system.
Fidelity financial professionals provide complimentary one-on-one consultations for participants in your plan. You can also contact Fidelity for a statement of your account by calling 1-800-343-0860 or visiting NetBenefits®.
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Before investing, consider the investment objectives, risks, charges and expenses of the fund or annuity and its investment options. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.
** The current yield of the money market mutual fund listed above reflects the current earnings of the fund, while the total return refers to a specific past holding period.
*** The yield without applicable waivers or reimbursements, whenever Fidelity is subsidizing all or a portion of the fund's expenses as of the current reporting period. Absent such waivers or reimbursements, the returns would have been lower. Waivers and/or reimbursements may be discontinued any time.
Investing involves risk, including risk of loss.
Footnotes 1, 2, 3 and 4 below pertain to the performance tables located on the Investment Options tab:
1 Stock markets are volatile and can fluctuate significantly in response to company, industry, political, regulatory, market, or economic developments. Investing in stock involves risks, including the loss of principal.
2 Total returns are historical and include change in share price and reinvestment of dividends and capital gains, if any. These figures do not include the effect of sales charges, if any, as these fees are waived for contributions made through your retirement plan. If sales charges were included, returns would have been lower. Life of fund figures are from the inception date to the period shown. For unitized funds, the inception date shown may be that of the fund's underlying investment option. For non-mutual fund pools and trusts whose strategies may be offered to multiple clients, and whose returns may be based on a composite, the inception date shown may be the beginning date of the composite's returns.
3In general, the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk, liquidity risk, call risk, and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so holding them until maturity to avoid losses caused by price volatility is not possible.
4Target Date Funds are an asset mix of stocks, bonds and other investments that automatically becomes more conservative as the fund approaches its target retirement date and beyond. Principal invested is not guaranteed.
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