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TVA to pay out $127 million in employee bonuses

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CHATTANOOGA, TN (Times Free Press) -

Just in time for all of those Black Friday sales, the Tennessee Valley Authority will pay out $127 million today in performance bonuses to most of its 12,612 employees.

For most full-time TVA workers, the annual incentive equals about 5 percent of their pay, or more than $3,600 for the average TVA worker earning the utility's median base pay of about $73,000 a year.

The incentive pay is down nearly 20 percent from the record high paid a year ago, primarily because such payments are based upon ever higher performance standards each year, TVA President Bill Johnson said.

The incentive payments, which include $115 million in Winning Performance pay for most employees and another $11 million in executive bonuses to senior TVA employees, come just a couple of months after TVA granted an average 2.9 percent raise to engineers at TVA represented by the Engineering Association (EA)/ IFTPE Local 1937.

Read more from our news partners at the Chattanooga Times Free Press.

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