TVA boosts pay of nation's highest-paid federal employee
TVA boosts pay of nations highest-paid federal employee
By The Associated Press November 10, 2017 2:15 pm
CHATTANOOGA, Tenn. (AP) The Tennessee Valley Authority is raising the pay of its CEO after the utility lowered its carbon emissions, injury rates and costs.
News outlets report TVAs board of directors voted Thursday to increase Bill Johnsons salary by 5.5 percent. Johnson was paid nearly $5 million in fiscal 2016, with a reported base salary of roughly $995,000.
The compensation package for Johnson, the highest-paid federal employee in the nation, is more than $6 million, including retirement and other benefits. The board says Johnsons pay is still low compared to salaries of utility companies not in public service.
The Knoxville-based TVA was established by an act of Congress in 1933 to help the Tennessee Valley overcome environmental and economic problems. TVA provides power for Tennessee and parts of six bordering states.
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