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RYERSON v. FIRST TRUST AND SAV. BANK

No. 87-71.

430 N.W.2d 442 (1988)

Susan Brady RYERSON, Plaintiff-Appellee, v. FIRST TRUST AND SAVINGS BANK, Alan Levi, Rosemary Margulies, and Moe Whitebrook, Defendants-Appellees, and Ruth Strom Brady, Appellant, and Davenport Bank and Trust Company, Bruce Strom, Jacky Sinnykin, and Dee Dee Strom, Defendants.

Supreme Court of Iowa.

Rehearing Denied November 18, 1988.

Attorney(s) appearing for the Case

Lynn W. Dippold of Stanley, Lande, Coulter & Nepple, Muscatine, for appellant.

Jeffrey S. Bittner and R. Richard Bittner of Carlin, Hellstrom & Bittner, Davenport, for defendant-appellee First Trust and Sav. Bank.

Ralph H. Heninger and Thomas J. Pastrnak of Heninger & Heninger, P.C., Davenport, for defendants-appellees Alan Levi, Rosemary Margulies, and Moe Whitebrook.

Herbert M. Spector of Spector, Tappa, Kopp & Nathan, Rock Island, Ill., and John T. Flynn of Brubaker, Flynn & Darland, P.C., Eldridge, for plaintiff-appellee Susan Brady Ryerson.

Considered en banc.

SNELL, Justice.

On October 1, 1982, Milo M. Brady established a Keogh plan, the trustee of which was the First Trust and Savings Bank of Davenport, Iowa. The documents constituting this plan were: (1) a basic plan document which contained all nonelective provisions applicable to all adopting employers, and (2) an adoption agreement which contained all options available to an adopting employer. Under the plan, Brady was the "Employer," the sole "Participant" and the...

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