The TVA Retirement System (TVARS) recently accepted nominations for a three-year term as an elected member of the TVARS board of directors. At the close of the nomination period deadline, the only nomination petition received was for Leonard J. Muzyn, who currently serves as an elected director on the board. The TVARS rules and regulations state in the event only one person is nominated for the director position to be filled, the board may declare such nominee elected without the necessity of formal balloting by the membership. Therefore, in a special called meeting on July 24, 2015, the board approved a resolution declaring Mr. Muzyn re-elected as a director of the TVARS board for the three-year term beginning November 1, 2015, through October 31, 2018. Mr. Muzyn’s candidate information form is available for review on the TVARS website.
Also, during this meeting, the TVARS board selected Allen E. Stokes, who currently serves as the 7th director on the board, to serve a new three-year term as its 7th director from November 1, 2015, through October 31, 2018. Stokes retired in January 2007 after a 30-year career with TVA, having last served as senior manager of Special Projects in Human Resources’ Information Services. Mr. Stokes was re-selected after informing the TVARS board of his interest in being re-selected for the 7th director.
In making the selection, the TVARS board considered Mr. Stokes, along with other potential candidates, and acknowledged Mr. Stokes’ experience serving as 7th director for four years, along with his qualifications, met the desired characteristics for the 7th director position. In addition, the board considered the need for continuity in the position given certain matters currently before the TVARS board, including the current lawsuit against TVARS and the implementation of a new 401(k) Plan investment menu.
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