Carle Foundation Hospital v. American United Life Ins. Co.
Carle Hospital participated in an AUL group annuity contract sponsored by the Illinois Hospital Association. At termination, AUL imposed "surrender charge" of nearly 6% of the reported contract value.
Pursued ERISA fiduciary action to recover "surrender charge," understated "investment liquidation adjustment" and discretionary interest margin retained by AUL at contract termination. Carle Foundation Hospital v. American United Life Ins. Co ., United States District Court, Central District of Illinois, Urbana Division, Case No. 93-2177.
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