JournalSentinelOnline reports:
A relieved Milwaukee County Board approved a $45 million settlement in the county's pension lawsuit against Mercer Inc. Tuesday, with some claiming vindication and others expressing disappointment.
The county will net about $30 million, which will go into the pension fund. The rest goes to lawyers and other costs of the litigation that began in 2006 and went to trial May 4.
While the money won't fix the county's ongoing financial problems, it should help lower the county's annual contribution to the pension fund, said County Board Chairman Lee Holloway.
County Executive Scott Walker called the settlement "a victory for the taxpayers." He said Mercer made its settlement offer on Friday.
Kim Nicholl, an expert witness for the county, testified last week that the cost of past and future backdrop pension payouts - and of county-paid health care payments for people who have or will retire early because of the pension deal - could be about $325 million.
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