Marsh Unit, Alaska Pensions Settle Suit For $500M

Law360, New York (June 14, 2010, 1:49 PM EDT) -- The Alaska Retirement Management Board has agreed to accept a $500 million settlement from its former actuary, Marsh & McLennan Cos. Inc. subsidiary Mercer Inc., in exchange for dismissing its suit accusing Mercer of leaving state pension funds with billions of dollars in unfunded liabilities.

The settlement agreement — filed Friday in the Alaska Superior Court, First Judicial District at Juneau — resolves allegations that Mercer's mismanagement of its actuarial duties caused a decline of more than $1.8 billion in the value of funds operated by...
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