A second lawsuit has been filed against the AME Church, alleging that the worldwide denomination’s retirement fund was mishandled, leading to an alleged loss of $90 million in retirement fund investments meant for thousands of pastors and other church retirees.
The AARP Foundation has joined as co-counsels in a Maryland lawsuit against the AME Church, filed on March 22 in U.S. District Court in Maryland by the law film Kantor & Kantor. The suit is the second against the denomination since one was filed last month in Tennessee. Both seek class action status due to the number of potential victims.
Both suits claim millions of dollars were mismanaged, leaving AME clergy and other retirees in the dark about what happened to their portion of the investment, which was intended to provide retirement income. The suits name several other defendants including the former executive director of the AME’s Department of Retirement Services.