TVA Chief Sees Pay Hike
One day after the Tennessee Valley Authority board extended a pay freeze for a second year, a report shows TVA President and CEO Tom Kilgore’s compensation increased by $352,000 in fiscal 2011, to $3.95 million.
A TVA filing Friday with the Securities and Exchange Commission shows compensation increases for all five of its top executives.
Kilgore is one of the highest paid federal employees in the United States.
A TVA executive vice president, Janet Herrin, said Friday the increase is mostly due to the value of Kilgore’s pension.
TVA pays $107 million in annual “winning performance” incentives Wednesday to its almost 13,000 employees. That is about $8,300 for the average employee.
TVA serves about 9 million people in Tennessee, Kentucky, Alabama, Mississippi, Georgia, North Carolina and Virginia.
