# LCMS Convention Proceedings_St. Louis Missouri_1947_S611
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 611

Resolved, That the Board of Support and Pensions continue
to. furnish information in regard to Annuity Gifts and urge our
people to invest their funds in this manner.

2. Wuereas, The cost of living has increased materially; and
Wurrras, The Old Age Benefit of the Pension Plan is insuf-
ficient to defray necessary living costs; therefore be it

Resolved, That Synod raise the Old Age Benefit from $50.00
to $60.00 per month and that a corresponding adjustment be made
in all support cases.

“8. Wuereas, Larger deposits in the Pension Fund would more
rapidly increase the accumulation with a resulting increase in
-benefits; and

Wuereas, Other church pension funds have successfully oper-
ated on the basis of a 10% payment on the part of the worker and
the congregation together; therefore be it

Resolved, That Synod study the feasibility of asking the con-
gregations to contribute 6% of the worker’s salary into the Pension
Fund; and be it further

Resolved, That Synod study the possibility of increasing the
_interest rate on the individual Pension Fund Reserve Accounts

from other sources,
ACTION

Synod adopted these recommendations and resolutions.

Changes in Pension Regulations
(Memorial 806)

Wuereas, Synod’s Pension System is intended to replace the
traditional manner of doling out support according to need and
those never-ending investigations by a more orderly and decent
system; and
Wuereas, The present system has failed to replace the search-
ing investigations into the private affairs of certain workers and/or
their dependents; therefore be it
Resolved, That we, the Northwest Ohio Pastoral Conference,
by this overture respectfully request our Synod to add the follow-
ing provisions to its Support Regulations:
1. Workers who had retired after reaching the age of sixty-
five, such retirement having taken place before Synod’s Pension
Plan had been adopted, are to receive from Support Funds without
formalities for life an annuity of $600 and their widows an annuity
of $300 for life.

2. If the accumulation annuity of the widow of a dues-paying
member of the Pension System is less than $300, such widow shall

2S OES AMPERES: ROMER DNA EOE POE MOTE ER A EA OE

RSLS NIAC ER EUR AONE

ass