The Tennessee Valley Authority boosted the total compensation paid to its chief executive Tom Kilgore to more than $3.95 million in fiscal 2011, or $352,481 more than his compensation package in the previous year.
In a filing with the Securities and Exchange Commission released today, TVA said compensation was increased for all five of TVA's top executives. Although the base pay of their executives was not increased, total compensation from bonuses and pension payments increased for TVA's top officers, according to the utility's annual report.
Kilgore, one of the highest paid federal workers in America, was paid a base salary of $853,269, an incentive bonus of more than $1.8 million and other pension and compensation of another $1.2 million.
TVA Chief Operating Officer Bill McCollum was paid total compensation of nearly $2.6 million, up from less than $2.4 million in the previous year, and TVA Group President Kim Greene was paid a total of nearly $2.4 million, or $49,139 more than the previous year.
"We try to provide a competitive compensation package that rewards performance," TVA Personnel Vice President Janet Heron said.