Pacific Airmotive Corp. v. First Interstate Bank

Opinion

JOHNSON, J.

This is an action under state law by an employer against the trustee of its employee retirement plan for damages suffered by the employer because the trustee inaccurately reported the assets of the plan. The trial court sustained the trustee’s demurrer to the complaint without leave to amend and dismissed the action on the ground the Employee Retirement Income Security Act (ERISA) gives the federal courts exclusive jurisdiction over the employer’s claim. We reverse.

Facts and Proceedings Below

For purposes of appeal we accept as true the properly pleaded factual allegations of…