A lawsuit in Alaska against the state’s former actuary of retirement funds alleging a $1.8 billion shortfall-combined with a shaky financial ground for many of the state’s pension systems-may soon lead to more litigation, several attorneys predict.
Earlier this month, the Alaska Retirement Management Board sued Mercer Inc., its former actuary of two state retirement plans. The complaint alleges the consulting firm’s negligence and errors triggered the funding gap. The case is Alaska Retirement Board v. Mercer, No. 1JU-07-974 Juneau Co., Ala. Super. Ct..
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