Pros
Compensation is good, especially the deferred compensation and pension plans. Unfortunately, that assumes you are with the company a long time.
Working conditions are also very good, especially in the Charlotte office. That campus is the nicest I have ever seen. The offices are comfortable and even the cubicles are well-appointed.
The company is in the middle of a transformation from a sleepy, non-competitive, not-for-profit entity to a nimble, highly competitive and very profitable enterprise. Time will tell if the attempt is successful.
The mission of the company is noble, and it does provide wonderful retirement solutions for educators, artists, hospital personnel, and others in the non-profit world. "Helping those who help others" is truly what the company does, and you can be proud to be a part of that mission.
Cons
The senior management of the company acts as if it has no idea how to run a company. Its recently appointed CEO spends more time on President Obama's economic advisory council than he does on running the company. The rest of the executive management team spends most of their time on political infighting. Rarely do the "best and brightest" people or ideas come to the fore. Instead, the most politically astute, regardless of competency, get promoted and rewarded.