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Gallagher Corp. v. Russ

Case Date: 12/23/1999
Court: 1st District Appellate
Docket No: 1-97-4398

Gallagher Corp. v. Russ, No. 1-97-4398

1st District, 23 December 1999

SIXTH DIVISION

GALLAGHER CORPORATION, an Illinois corporation, and the GALLAGHER CORPORATION EMPLOYEE DEFINED BENEFIT PENSION PLAN,

Plaintiffs-Appellants,

v.

STEVEN B. RUSS,

Defendant-Appellee.

 Appeal from the Circuit Court of Cook County.

95 L 16057

Honorable David Lichtenstein, Judge Presiding.

SECOND MODIFIED OPINION ON DENIAL OF REHEARING

JUSTICE ZWICK delivered the opinion of the court:

This is an appeal from the circuit court's dismissal, pursuant to section 2-615 of the Code of Civil Procedure (735 ILCS 5/2-615 (West 1998)), of a Fifth Amended Complaint filed by plaintiffs Gallagher Corporation (Gallagher) and Gallagher Corporation Employee Defined Benefit Pension Plan (the plan). Defendant, Steven B. Russ, is a licensed actuary who furnished certificates between 1988 and 1993 to a retirement plan established by plaintiff Gallagher for the benefit of its employees. Gallagher hired Massachusetts Mutual Life Insurance Co. (Massachusetts Mutual) to administer the plan, and Massachusetts Mutual, in turn, employed defendant to certify the plan's financial health. Federal law requires that the plan be certified by an actuary each year. See Employee Retirement Income Security Act of 1974 (ERISA) (29 U.S.C.A.