Gerosa v. Savasta
The trustees of the Cement Masons Local 780 Pension Fund initiated a lawsuit against their actuary, Savasta and Company, Inc., alleging negligence. The actuary's erroneous report of an over-funded plan led the trustees to increase beneficiary benefits. Subsequently, the actuary disclosed its mistake, revealing the fund was actually underfunded and that critical data was lost. The lawsuit seeks to recover substantial damages inflicted upon the fund due to this actuarial malpractice. The court ultimately ruled that the dispute falls under exclusive federal jurisdiction, governed by ERISA, denying the defendant's motion to dismiss the federal claim and preempting the plaintiffs' state law claims.