But I'm pretty sure it works like this: your effective TPE is calculated (in order to account for past depreciation), and you get to distribute that many points to your player from the base template of attributes.
So here's an example using the attributes of some random VHL superstar.
FG = Fighting: 42 (2 TPE)
SK = Skating: 86 (30+20+18 = 68 TPE)
ST = Strength: 83 (30+20+9 = 59 TPE)
PH = Puck Handling: 86 (68 TPE)
FO = Face Offs: 88 (74 TPE)
PA = Passing: 89 (77 TPE)
SC = Scoring: 88 (74 TPE)
DF = Defense: 90 (80 TPE)
So while this excellent player has 658 TPE, he has 502 effective TPE. By purchasing whatever that thing is called, he can reset his attributes to 40 and then add 502 points.