The state of Alaska is suing Mercer Consulting for $1.8 billion claiming the firm failed to provide proper service and advice, a charge the company vehemently denies.

Mercer, a subsidiary of New York-based Marsh & McLennan Companies, parent company of Marsh insurance brokerage, was the actuarial firm for Alaska’s Public Employees Retirement System and the Teachers Retirement System from the 1970s to 2006.

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