Strunk Brothers Company v. Transamerica Occidental Life Ins. Co.
Strunk purchased group pension contract from Transamerica. When Strunk decided not to make further deposits under the contract, Transamerica reduced the interest rate credited from 8.25% to 5.25%. When Strunk requested withdrawal of the contract balance, Transamerica claimed an investment loss of nearly 32% of the contract balance.
Pursued ERISA, securities and common law claims to recover the loss to the plan. Strunk Brothers Company v. Transamerica Occidental Life Ins. Co., United States District Court, Central District of Illinois, Peoria Division, Case No. 84-13.
