Milwaukee County has sued its former actuarial firm, Mercer Human Resource Consulting, for malpractice and breach of contract related to the 2000 county pension deal. Mercer advised the county on the cost of the pension enhancements under a contract signed by the former personnel director Gary Dobbert. (Dobbert crafted the pension package and went to jail in 2004 for lying about the deal’s costs.)
The lawsuit alleges that Mercer
…made repeated, serious actuarial mistakes, grossly underestimated costs and totally failed to assess the actuarial effect..
The lawsuit is being brought by Milwaukee County, the county’s [tag]Employee Retirement System[/tag], and the county’s Pension Board.