TVA Employees Sharing In Record Earnings

Posted at 4:32 PM, Nov 21, 2015
and last updated 2015-11-21 17:32:48-05

The Tennessee Valley Authority has been rewarding employees for helping boost the utility's income above $1 billion last year.

The Chattanooga Times Free Press reported TVA directors voted Friday to allow the agency's 10,900 employees to share in some of those record earnings. The directors approved payments of $113 million, or an average year-end bonus of $10,367 per employee.

The board was even more generous to its top five executives.

TVA CEO Bill Johnson was paid a compensation package in fiscal 2015 worth more than $6.4 million.

Four other top TVA executives were each paid more than $2 million in the fiscal year ended September 30.

TVA Chairman Joe Ritch and other TVA directors praised Johnson and other top executives for helping to turn around TVA's financial standing.