# LCMS Convention Proceedings_St. Louis Missouri_1944_S813
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

228

PROPOSED SYNODICAL HANDBOOK

753. Contributions to the Pension Plan

A. Every worker will become eligible for the ben-
efits of the Pension Fund by paying to the Pension
Fund the required members’ contributions. All such
payments shall be credited in full to his respective
individual account, and the sum of such Payments (or
personal accumulation, 751,H) shall be held by the
Board for the respective workers, each of whose ac-
counts shall be credited regularly with interest at the
rate determined by the Board. Interest shall be
credited from the dates when Paymients are received
by the Fund. Interest shall be compounded annually
by fiscal years.

B. All contributions are to be made monthly, quar-
terly, semiannually, or annually in advance,

C. Any worker (or annuitant) may at any time
make contributions additional: to the required mem-
bers’ contributions. Such contributions are to be
credited to his individual account in full in the: same
manner as the regular members’ contributions. On
thirty days’ notice from the worker the Board may

. refund to him a part or all of the amount contributed

by him over and above his regular members’ contri-
butions and not yet applied to provide an annuity for
him, provided, however, that his members’ contribu-
tions are made in full and to date, it being understood
that the Board shall have the right to apply any such
additional accumulation to pay the arrears of the
member’s contributions.

D. In the event that only a partial payment is made -
by a worker, such partial payment, at the request of
the worker, may be carried forward as a credit on
the member’s contribution for the succeeding year or
years.

I. The congregation or board having the services
of a worker shall also be held to make regular contri-
butions to the Pension Fund as required under Sec-
tion 751, F.

F. After the completion of each fiscal year (Octo-
ber 1 to September. 30) the aggregate of the contri-
butions by the congregations and boards shall be uni-
formly allocated to those workers who in that year
have remitted their full contributions and whose con-
8regations and boards have also remitted their full
contributions in that year, and the allocated amount
shall be credited to the respective individual accounts
of those workers, provided, however, that in no case
shall an allocation to a worker exceed an amount equal
to 3 per cent of the salary basis when the contributions
are made on the 2-per-cent basis, 4% per cent on the
3-per-cent basis, and 6 per cent on the 4-per-cent basis
during the allocation year by the worker and his con-
gregation or board; nor shall any annual contribution
be reduced to an amount of less than 1% per cent
when the contributions are made on the 2-per-cent
basis, 24% per cent on the 3-per-cent basis, 3 per cent
on the 4-per-cent basis.

G. In the event that only a partial payment be
made by a congregation or board within a year, such