[Comments on Pension and Compensation-Related Matters Concerning Upper Level TVA Employees]
B-222334.4: Published: Apr 4, 1989. Publicly Released: Apr 18, 1989.
Pursuant to a congressional request, GAO commented on the legality of the Tennessee Valley Authority's (TVA) use of certain pension and related plans to compensate its executive-level management staff. GAO noted that the plans clearly circumvented the statutory limitations on salary, since the plans increased the executives' salary levels above those of the TVA Directors.