Apparently, the Barbara Cook lawsuit
cost the county about $200,000, pension board members were told this
morning. Or, rather: Attorneys for the pension board made
$200,000 off the Barbara Cook lawsuit.
Heh.
As you might recall several years back,
Cook, a former employee, accused the county and its retirement board of of
holding employee pension deductions a lot longer than neeed
before depositing them into retirement accounts. At issue was whether
the coin belonged to the county, the pension board or the employees.
She filed the lawsuit in December 2008,
seeking to recover the interest on behalf of the employees. In late 2010 a judge ruled in favor of the county. (Her legal team dropped
the county pension board from the lawsuit. I'm not going to get into
how ridiculous a move this was, according to what some local lawyers have told me.)
Anyhoo, the issue was discussed because
the pension board is looking to increase its insurance coverage. The
board didn't take any action this morning, but its administration
will look at it in the upcoming months.
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