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Southern Company

Electric utility holding company serving the Southeast.

Headquarters: 30 Ivan Allen Jr. Blvd. NW
Atlanta, GA 30308
Employees: 26,377
CEO: Thomas Fanning
Stock Symbol: SO

Website: http://www.southerncompany.com

Career Site

Southern Company operates regulated regional electric utilities that serve a 120,000-square-mile territory in Alabama, Florida, Georgia, and Mississippi. Southern's competitive generation business extends to markets in six southeastern states.

The company's four electric utilities ­ Alabama Power, Georgia Power, Gulf Power, and Mississippi Power ­ serve more than 4.4 million retail customers including 3.75 million residential users.

Southern has more than 42,000 megawatts of electric generating capacity. It has responsibility for approximately $6.2 billion in transmission assets including more than 27,000 miles of transmission lines, 3,700 substations, and more than 300,000 acres of right of way.

Other major subsidiaries and business units include Southern Nuclear, the licensed operator of Southern Company's three nuclear generating plants in Alabama and Georgia; SouthernLINC Wireless, a communications network with 127,000 square-mile coverage area in the Southeast; and Southern Telecom, a fiber optic wholesaler in the Southeast.

In 2011, Southern Company reported revenues of $17.6 billion and net income of $2.2 billion.

History

The history of Southern Company can be traced back to the mid-1920s, when Alabama Power, Georgia Power, Gulf Power, and Mississippi Power became an interconnected system under a holding company known as Southeastern Power & Light. The purpose of the integration was to enable each company to provide more reliable service to its operating areas and to supply a source of capital funds to the companies for construction purposes.

In 1930, Southeastern Power & Light merged into the Commonwealth & Southern Corporation to form a system that included five Northern companies and six Southern companies. However, in the late 1940s Commonwealth & Southern was dissolved to meet the Public Utility Holding Company Act of 1935. The dissolution was necessary because the 11 companies of Commonwealth & Southern did not have integrated operations or interconnected lines.

Four of the Southern companies - Alabama Power, Georgia Power, Gulf Power, and Mississippi Power - were deemed to be an integrated system and thus were allowed to remain under common ownership, this time under a new holding company - Southern Company.

The new holding company was incorporated in Delaware on November 9, 1945 and moved to Georgia in 1950. The year 1949 saw Southern Company's first full year of operation. At that time, Southern Company purchased all of the service company's common stock and the personnel of the holding company became employees of Southern Company Services. Southern Company began trading on the New York Stock Exchange as SO soon thereafter.

Benefits

The company offers a wide variety of market-competitive benefit choices to full-time and regular part-time (minimum 20 hours per week) active employees and their families. Benefits and services listed may not apply to employees covered by a collective bargaining unit agreement.

* Health and Wellness
* Retirement and Financial Planning
* Time Off
* Additional Benefits

Health and Wellness - available upon employment

Cost shared between Southern Company and the employee:

* Medical Plans
Single and family coverage is available on your first day of work. Options and costs may vary by coverage level, company, work location and residence. Plan options feature preferred-provider organizations (PPO).
* Prescription Drugs
Prescription drug benefits are available based on your medical plan choices.
* Mental Health and Substance Abuse Treatment Mental health and substance abuse treatments are available based on your medical plan choice.
* Long-Term Disability Plan Provides 50% or 60% of your base monthly salary, subject to a maximum benefit and offsets as defined in the policy, in case you become totally disabled. Benefits begin 180 days after total disability.
* Life Insurance - employee only $12,500 coverage paid by Southern Company - additional coverage in the amount of $37,500 or multiples of 1 to 5 times your annual base salary can be purchased by the employee at competitive group rates.

Cost paid by Southern Company:

* Employee Assistance Program (EAP)
Provides confidential assistance and referral services to employees with alcohol, drug abuse and/or emotional problems. This program is also available for your family.
* Business Travel Insurance
You are eligible for coverage equal to three times annual base salary, with a minimum of $120,000 and a maximum of $600,000.

Cost paid by the employee at competitive group rates:

* Dental Plan
Several options for single or family coverage are available.
* Accidental Death and Dismemberment Insurance
You are eligible for insurance in amounts ranging from $50,000 to $500,000. You may also insure your spouse for up to 100% of your coverage and your child for up to 30% of your coverage.
* Accident and Sickness Insurance
Provides short-term protection against loss of income in case you become disabled by sickness or accidental injury.
* Dependent Life Insurance
You are eligible to choose life insurance for a spouse from $10,000 to $100,000 of coverage and for a child for $5,000 to $15,000 of coverage.
* Flexible Spending Accounts (Tax Saver)
You may contribute pre-tax dollars to either or both of two spending accounts to cover (1) certain out of pocket health-care expenses from your medical and dental plans and (2) certain dependent care expenses.

Retirement and Financial Planning

Employee Savings Plan - eligible upon employment

The company currently matches 85% on the first 6% of base pay you contribute. You may contribute 1% to 25% of your base pay to a traditional ESP account on either a before-tax or after-tax basis or contribute to a Roth 401(k) account on an after-tax basis.

Defined Benefit Pension Plan - eligible after one year of eligibility service:

You may receive a monthly retirement income for life and, at your option, your spouse may receive a monthly income for life following your death. Normal retirement is generally at age 65. Early retirement is permitted between ages 50 (with 10 years accredited service) and 65, subject to the conditions of the plan. You are fully vested after five years of plan vesting service.

Financial Planning

As a Southern Company employee, you will have access to a number of financial planning resources. We have made arrangements with several major investment and financial planning vendors to provide individual financial counseling to employees.

Time Off

Vacation

New hires are eligible for up to ten days (two weeks) vacation based on the month hired. For example, employees hired between January and March will receive ten days for that year, between April and June eight days, between July and September six days, and between October and December four days. Three, four and five weeks of vacation begin in the calendar year in which you complete five, fifteen and twenty-five years of service, respectively.

Holidays

Ten annual paid holidays (specific days vary by subsidiary).

Leaves of Absences

Under the federal Family and Medical Leave Act, you may be able to take up to 12 work-weeks of job-protected leave for certain family and medical situations. You must use all paid leave available to you first. The rest of the 12 weeks will be unpaid leave.

Military Leaves (call to active duty)

Supplemental pay may be granted, depending upon the type of military leave and your length of service. Seniority continues to accrue while you are on leave provided you fulfill the provisions required under the Uniformed Services Employment and Reemployment Rights Act of 1994.

Tuition Reimbursement

The Tuition Reimbursement (TR) program is designed to help defray the cost of continuing education. Eligible expenses for approved programs of studies may be reimbursed up to $5000 per year.

Additional Group Benefits

Southern Company has negotiated competitive group rates for the following benefits: legal, long-term care, auto and homeowners insurance. Note: Legal plan becomes available during annual enrollment. Enrollment in a vision discount program is automatic and the program benefits are provided at no cost to all Southern Company employees.

Matching Gifts to Educational Institutions

The purpose of the Educational Matching Gift Program is to encourage employees and retirees of Southern Company Services to join the Company in its financial support of higher educational institutions. Southern Company Services matches, dollar for dollar, donations made by qualified individuals, up to $5,000 per year, to the eligible institutions of their choice. For more information click this link. https://www.easymatch.com/southernco

U.S. Savings Bond Program

You may purchase bonds through payroll deduction by calling National Bond and Trust at 1-800-426-9314.

Credit Union Membership and Services

Member-owned financial institution provides savings, checking and lending services.

Service Awards

You will receive a service award upon completion of each five years of service.

Updated October 7, 2012