CHATTANOOGA, Tenn. (AP) — 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 increased for all five of its top executives.
Kilgore is one of the highest paid federal employees in the United States.
A TVA spokesman said Thursday after the board extended the pay freeze for fiscal 2012 that the SEC filing could show increases in long term pension and some other compensation.
The Chattanooga Times Free Press reports that TVA Personnel Vice President Janet Heron said Friday that the nation's largest public utility tries to "provide a competitive compensation package that rewards performance." (http://bit.ly/snhoab )