Frances-Ann Criffield

Following a wave of high‑profile settlements involving large defined benefit pension plans, including Raytheon (which settled for around $59 million) and CITGO (which settled for around $10 million), and as they await litigation outcomes in pending MetLife and Southern Company Services cases, now is a good time for employers and others sponsoring defined benefit pension plans to review their plan’s actuarial assumptions to determine whether they cross the line from permissible to legally...

Outdated Assumptions, New Exposure: What Southern Company Means for Defined Benefit Plans Following a wave of high‑profile settlements involving large defined benefit pension plans, including Raytheon (which settled for around $59 million) and CITGO (which settled for around $10 million), and as they await litigation outcomes in pending MetLife and Southern Company Services cases, now is a good time for employers and others sponsoring defined benefit pension plans to review their plan’s...

Governor Roy Cooper signed into law changes to the North Carolina Wage and Hour Act that change employer hiring and termination processes. The changes are effective immediately. Hiring New Employees: At the time of hiring, employers must notify new employees, in writing, of the promised wages and the day and place for payment.