Hi Moe333. What are you analyzing, end-of-construction stability? This is actually a damned hard and complicated question, with different answers in different parts of the fill.
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(Effective stress still applies, but the effective stress is governed by capillarity, compaction moisture, overburden, time-dependent dissipation of excess PWP if any, etc.) For large dams, people sometimes get into pretty high-level analyses using consolidation and UU and CU tests with samples at compaction moisture, if it would have a big effect on stability. (If the dam's core is thin, it wouldn't matter much, but with a broad core, it may matter.) I don't have any good refs right at hand to suggest, but Del Fredlund and others (at U of Alberta?) have published a fair amount in the Canadian Geotechnical Journal.
I suspect that, under 100 feet of fill or perhaps a lot less, the clay will be saturated (unless placed well dry of optimum) and behave as though normally consolidated (contractive). Even if you don't do something like storing a reservoir against the embankment to get it wetter, the compression may be enough to eat up all the air voids and make it saturated. In the lower part of the fill, therefore, Su/p' might make some sense (for construction stability, but not long-term stability), with the caveat that there may be some undissipated excess PWP from construction that would affect the value of p'. In the upper part, where the fill would remain unsaturated, the strength envelope is likely to be helped by a sizable pseudocohesion due to capillary tension, which makes effective stress higher than total overburden stress. This is strongly affected by degree of saturation. With overburden pressure, the air voids get compressed, degree of saturation goes up, and capillary tension goes down. For samples tested AT COMPACTION MOISTURE, this typically results in a low phi (not phi') and a high cohesion. USBR's Design of Small Dams shows typical values of 25 degrees and 10 PSI for CL, but I think those numbers come from a mixture of different types and of back-pressured triax results and older ones without back pressure, which is more similar to what's in a new embankment.
Avoiding high construction pore pressure is one argument for placing fill 1-2% dry of optimum in the lower part of a high fill.