Northrop Wins Appeal Of $74M Bill For Exec Pension Plan
Law360 (October 20, 2020, 10:13 PM EDT) -- The Armed Services Board of Contract Appeals has sided with Northrop Grumman and found that the company's $74 million bill to settle costs related to an executive retirement plan was calculated correctly, rejecting the government's objections.
The board's decision turned the page on a dispute between the Defense Contract Management Agency and the defense technology company dating back to 2014 over the contractor's management of its Officers Supplemental Executive Retirement Plan. Administrative Judge J. Reid Prouty described the OSERP as a "particularly generous pension plan for senior management" in the panel decision released Monday.
Since cost-reimbursement contracts with the government factor...
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