# LCMS Convention Proceedings_St. Louis Missouri_1944_S915
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

2 Ree agree eenante nenmane toon

‘and delays other operations which should be kept current. With-.

' fiscal year. But that true balance is not ascertained until several

330 FINANCIAL MATTERS

ages. Some few would gain more than that. A majority would:
gain less.

And what about the costs? We do know that the last alloca=.
tion cost upward of a thousand dollars for regular and special.
clerk hire, Not only is allocation a laborious and monotonous task
for those concerned, but it also seriously impairs the office routine:

-out allocation it is possible to keep practically current on Pension
wostings at all times. That would mean that delinquency notices
«could be sent out promptly. That was not the case last fall. It
‘would also mean that there would be a true balance in all accounts
at practically all times. Under allocation there is a true balance
only once each year, that is, as of September 30, the end of the

months later. It would mean further that the statements of their
accounts would be intelligible to the members when they receive
them once a year. Under allocation many members do not under-
stand their statements, and none can prove them.

We repeat the suggestion of three years ago that Synod resolve
to discontinue socialized allocation of employers’ contributions and:
that it amend the Pension Plan by eliminating all reference to it.
Instead it should be required that each Pension account be kept.
posted currently, so that delinquency can be promptly discovered
and commensurate action taken. The annual interest postings can
be made with negligible disturbance to the routine work, as it can
be anticipated months in advance.

W.H. Scuiveter Cuas. E. GRoERICH:
THEO. W. EckHartT A. W. Huce