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Ratepayer money flows to TVA executive pensions, TVARS gets nothing

As part of TVA CEO William D. Johnson’s $5,904,531 compensation package for nine months work in fiscal year 2013, he received $2,051,329 of value in his Supplemental Executive Retirement Plan (SERP).  The SERP is made available to a limited number of TVA executives and is not part of TVARS.  The SERP received $6,000,000 of ratepayer money.  Mr. Johnson received $12,066 of value in his TVARS pension.  TVARS received nothing.  (See pages 135, 168 and 172 in TVA’s fiscal year 2013 10-K financial statement.) 

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