AME Church Ministerial Retirement Annuity Plan Class Action Settlement

The class generally includes participants in the AME Church's ministerial retirement annuity plan as of June 30, 2021. Each class member's share is based on the size of their plan account balance as of that date relative to the total of all class members' balances. The class definition in the official settlement notice controls.

No. Class members do not need to file a claim form. If the court grants final approval, the settlement administrator will automatically distribute each eligible class member's share into their retirement account. You only need to take action if you want to exclude yourself (opt out) or object.

The newest settlement, with Symetra Life Insurance Co., is for $44.4 million and is pending court approval. Combined with earlier settlements in the case, plaintiffs have reported a total recovery of approximately $106.2 million. Each class member's individual share depends on their account balance as of June 30, 2021.

Class members who want to exclude themselves from the Symetra settlement must mail a signed opt-out request by July 17, 2026. The court has scheduled a fairness hearing for August 19, 2026, to consider final approval. No action is required to receive a payment.

The consolidated litigation alleged that tens of millions of dollars were lost from the AME Church's ministerial retirement annuity plan after plan funds were allegedly diverted over many years into risky investments and to fees and commissions for self-interested parties, in alleged breach of fiduciary duties and other obligations. The settling defendants deny wrongdoing and agreed to settle to resolve the claims.