News & Updates
If you have any questions or issues, please contact the following offices:
- Office of General Secretary / CIO — (615) 254-0911 or
- Office of Executive Director AMECDAII — (800) 992-6327 (Toll
Free)
(901) 527-2006
(901) 527-2007 (Fax)
A New Day and A New Way
Effective January 1, 2009, the AMEC Department of Annuity Investments and Insurance
will launch two new features of the Online Annuity Reporting System (OARS) that
are designed to improve the availability and efficiency important system procedures.
Self Directed Annuity Investments
Several annuitants have requested to have the ability to "self-direct" a portion
of their vested annuity investments and to make their own investment decisions.
Although, we do not recommend this method for those who are less knowledgeable and
experienced in the area of financial investments, we do understand that many of
our annuitants are relatively competent in this area and are willing to assume the
inherent risk of their decisions.
That is why you will soon be able to make your own investment decisions with up
to a maximum of thirty percent (30%) of your personal vested annuity
amount. This process will be available exclusively through the department's website
and will require each selectee to complete an indemnity waiver form which serves
to absolve the department of any fiduciary responsibility. Stay tuned for further
details.
Online Annuity Distribution Request Procedure
In an effort to reduce the processing time and streamline the process associated
with requests for annuity distributions, you will now have the ability to make your
requests through the department website. Although your personal signature will
be required on the request document, which then must be mailed to the
department, the remainder of the distribution process will be transacted totally
online; thereby reducing the processing time time as well as reducing postage expense.
AMEC Group Health and Hospitalization Plan
Although we cannot yet predict success, we are continuing to make progress in our
attempts to obtain an affordable Group Health and Hospitalization Plan for the annuitants
and their families. This is a very complex process that will require patience and
understanding, particularly in this time of spiraling health costs. However, your
department is committed to obtaining this much needed benefit and will continue
to explore and examine every opportunity to do so. If you have not yet retunred
your Medical Insurance Survey, please do so immediately. Your input
is critical in this process and in the potential success in our efforts. Please
bear with us. It is our intention to achieve this much needed goal during the 2008-2012
quadrennial.
A Truly Connectional Retirement Annuity Plan
The department is now in consultation with the Presiding Bishops of Episcopal Districts
14-20 to determine the feasibility of establishing a Ministerial Retirement Annuity
Plan for the ministers serving the overseas districts. This process is still in
the very early stages and there is much work that still has to be done. However,
we remain confident that this much needed benefit can be provided and we are committed
to achieving progress in this effort. Again, your patience and understanding is
appreciated.
"Eye hath not seen, nor ear heard, neither have entered into the heart of man,
the things which God hath prepared for them that love him." 1 Cor 2:9 KJV