# LCMS Convention Proceedings_St. Louis Missouri_1947_S610
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

610 FINANCIAL MATTERS

both covered, then the age of the younger is the rate of interest.
This will be paid out year after year so long as one of you shall
live. Many older folks thus escape the constant worry where they
should invest their money in a safe place. If you are not at
present. in need of the interest, you may defer receiving it to a
later date and then receive a larger annuity, because in the mean-
time your capital has increased and you will get a higher rate
of interest because of your greater age.

But how does the Pension profit? We all realize that if the
Pension is giving 6~7% interest according to age, and is only
receiving 244% interest on its investments, that the payments made
to the beneficiaries will have to come in part out of the capital,
and that the capital will be shrinking. If it should happen that
a beneficiary would live to 100 years, he would use up the whole
capital and more. However, ordinarily the beneficiaries do not
live to 100, and there will be a smaller or larger sum left. Because
of the risk we take, though it be small, because we relieve the
annuitants of worry in connection with their investments, because
of the work connected with the investments and the bookkeeping,
and because the annuitants want to do something for the Church,
the capital left after the death of the annuitants is added to the
Contingent Fund. That part is a gift.

No doubt, there are hundreds that could and would profit
by this plan if they only knew about it. We ask you to emphasize
this more fully at the College of Visitors, circuit meetings, and at
conferences and encourage our -pastors to bring it before their
people, and suggest to them to designate the Pension Contingent
Fund the recipient of the residium. Let us also remind them that
beautiful Memorial Cards for that Fund are available, and not
only at the funeral of a pastor or teacher.

Boarp or Support aND PENSIONS
Rev. Oscar Fepper, Chairman
Rev. F. G. Kuznnert, Executive Secretary

Committee 12 submitted ‘the following report:

Your Committee recommends that the report of the Board of
Support and Pensions be accepted, and be it further recommended
that the Board be commended for its efficient administration of
the pension and support funds and for its successful effort to in-
crease the number of participating workers and congregations.

1. Wuergas, It is highly desirable that the accumulation in the
Pension Contingent Fund should be increased as rapidly as pos-
sible; and

Wuereas, It has been found practical to secure funds by means
of Annuity Gifts for the Pension Contingent Fund; therefore
be it