Raytheon Ineligible For $60M Pension Win, Fed. Circ. Told
By Erica Teichert
Law360, Washington (November 7, 2013, 3:07 PM ET) -- The U.S. government on Thursday urged the Federal Circuit to nix a decision ordering it to pay Raytheon Co. $59.2 million for adjusted pensions costs on four units the company sold, saying Raytheon didn't meet the requirements to receive the federal reimbursement for its pension deficits.
According to the government, the Federal Acquisition Regulation requires companies to fully fund their pension deficits in the year of the segment closings in order to recoup the costs, but Raytheon failed to comply with that condition when it sold...