CHICAGO - Milwaukee County is readying its long-planned $400 million taxable pension issue for sale as soon as next week amid the bad news that market losses have more than doubled the size of the county's unfunded pension liability.

The financing - which originally was to bring the county's pension fund to a near fully funded status - still will generate significant enough present-value savings of about $33.5 million over the life of the debt to make it well worth doing, said county budget director Steve Kreklow.

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