# Tennessee Valley Authority Retirement System

Tennessee Valley Authority Retirement System is a Pension Fund based in Knoxville, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Knoxville, United States
- **Region:** North America
- **Address:** 400 West Summit Hill Drive WT 8A-K, Knoxville, TN 37902-1499, United States
- **Founded:** 1939
- **Assets under management:** Undisclosed
- **Website:** tvars.com
- **LinkedIn:** https://tvars.com/

## Regulatory record

- **CRD number:** 305228
- **Latest Form ADV filing:** 2026-03-26T05:00:00.000Z
- **Reports private funds:** No
- **Private funds reported:** 0
- **IAPD record:** https://adviserinfo.sec.gov/firm/summary/305228

## About

The Tennessee Valley Authority Retirement System was established in 1939 by the Tennessee Valley Authority to provide retirement benefits. It operates as a defined benefit plan covering most full-time and part-time annual employees. Mark N. Meigs serves as Executive Secretary. The system allocates across public equity, fixed income, private equity, real estate, timberland, and private credit. Confirmed holdings include commitments to TPG AG Europe Realty Fund IV, the Hancock Timber Resource Group Portfolio, and multiple HarbourVest vintages. Geographic exposure spans the United States and Europe. Summit Hill Real Assets Fund and Summit Hill Credit Fund represent additional real asset and credit programs managed with Wilshire Advisors. The system reported $8.8B in pension assets alongside a separate 401(k) plan valued at approximately $4.9B. It maintains memberships in the Council of Institutional Investors, Pension Real Estate Association, and Defined Contribution Institutional Investment Association. In September 2024 the board added the PIMCO Income Fund to the 401(k) lineup. The plan is sponsored by the Tennessee Valley Authority, which appoints board members and serves as the primary employer relationship. Governance separates the defined benefit assets from the 401(k) recordkeeping structure administered by Fidelity.

## Sectors

- Private Equity
- Real Estate
- Timber
- Private Credit

## People

- Eric J. Davis — Chair of the Board and Investment Committee
- Mark N. Meigs — Executive Secretary
- Veenita Bisaria — Investment and Risk Manager

## Questions

### Who runs investment decisions at Tennessee Valley Authority Retirement System?

Eric J. Davis chairs the Investment Committee. Veenita Bisaria serves as Investment and Risk Manager. The seven-member Board of Directors oversees overall policy.

### Does Tennessee Valley Authority Retirement System participate in fund commitments or only direct deals?

The system commits to commingled funds and fund-of-one programs. Examples include HarbourVest Partners vintages and Wilshire-managed Summit Hill vehicles.

### What asset classes does Tennessee Valley Authority Retirement System hold?

Holdings include public equities, fixed income, private equity, real estate, timberland, and private credit. Private equity currently represents 17.35% of assets.

### How is Tennessee Valley Authority Retirement System related to the Tennessee Valley Authority?

The Tennessee Valley Authority established the system in 1939 and remains the sponsoring employer. TVA appoints certain board members.

### Which service providers support Tennessee Valley Authority Retirement System?

BNY Mellon acts as master trustee. Wilshire Advisors serves as pension consultant. Fidelity Investments is the 401(k) recordkeeper. Crowe LLP is the auditor.

## Related profiles

- [Wren House Infrastructure Management](https://altss.com/profile/wren-house-infrastructure-management)
- [Harbourfront Wealth Management](https://altss.com/profile/harbourfront-wealth-management)

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Last updated: 2026-06-03T20:00:00.000Z

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