Judge dismisses part of city pension suit against actuary

PROVIDENCE – A federal judge has dismissed a portion of a lawsuit the city filed against its longtime actuary but is letting the rest go ahead, The Associated Press reported last week. More

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Judge dismisses part of city pension suit against actuary

Posted 8/26/13

PROVIDENCE – A federal judge has dismissed a portion of a lawsuit the city filed against its longtime actuary but is letting the rest go ahead, The Associated Press reported last week.

The AP said the city sued Buck Consultants in February over ‘‘fundamental and inexcusable errors’’ in calculating the projected savings from its pension overhaul – a mistake it says cost the city more than $10 million.

Buck had sought dismissal of the whole suit, which claimed breach of contract and fiduciary duty, negligence and violation of the Rhode Island False Claims Act. But in an August ruling, U.S. District Judge William Smith sided with Buck only in throwing out the False Claims Act claim.

According to the AP, the suit says Buck overstated the city’s savings by $700,000 a year, meaning its pension liability is $10.8 million more than expected. •

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