Overview of Financial Counseling Services Program Agreement between TVA and The Ayco Company, L.P.
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Summary
The Tennessee Valley Authority (TVA) established a Financial Counseling Services Program in 2009 for select executives approved by the CEO. Under this program, TVA covers the cost of personal financial counseling services—including estate, investment, tax, and retirement planning—provided by The Ayco Company, L.P. TVA also pays an additional amount to participants to offset any extra taxes resulting from these benefits. The program is limited to eligible executives and is administered by Ayco.
EX-10.31 4 ex10-31.htm OVERVIEW OF FINANCIAL COUNSELING SERVICES PRGM ex10-31.htm
EXHIBIT 10.31
Overview of Financial Counseling Services Program
In 2009, TVA began offering a Financial Counseling Services Program for a limited number of executives approved by the CEO. Under the program, participants are eligible to receive personal financial counseling services, such as estate planning, investment planning, income tax planning, income tax preparation, and retirement planning. TVA pays the cost of the program for each participant and also pays each participant a gross-up amount that reasonably approximates the additional income and employment taxes estimated to be payable as a result of TVA’s payments pursuant to the program. The program is administered by The Ayco Company, L.P.
