# LCMS Convention Proceedings_St. Louis Missouri_1947_S620
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

620 FINANCIAL MATTERS

Social Security be submitted to the Board of Support and Pen-
sions for further study, that it report its findings and recom-
mendations to the Board of Directors of Synod, and that the Board
of Directors take action to include these workers in the plan of
Pensions.

“Action of Synod: This recommendation was adopted.”

The Board of Directors, in compliance with that resolution,
desires to make the following report: — :

When Synod adopted its present Pension Plan for its ministers
and teachers, it deliberately excluded the lay workers from any
participation in the plan, because at that time there was some hope
that Government Social Security might be expanded to include
workers for religious corporations. Whereas much has been said
on this score and any number of bills have been introduced in
the United States Congress with’ that in mind, the fact is, as of
today neither the existing Church’s Pension Plan nor the Social
Security System provides any benefits for the Church’s workers.
The present proposal that Synod adopt a pension plan for its lay
workers is contemplated to overcome this inequitable treatment
of the lay. worker.

The proposed plan is a separate one from the professional plan
now in operation for several reasons. First, there is a much larger
turnover among the lay employees. Second, personal or indi-
vidual reserves are not contemplated, and the employees never
have a disposable interest as is the case in the present plan. That
practically precludes employees’ contributions. In the professional
plan, employees, ministers, and teachers change frequently, but
generally within the Synod, and there is no change in their pension
status. In the lay pension plan, the employee either stays in
or goes out. When the lay worker does go out, he takes nothing
with him.

In general, this plan follows the pattern of most industrial plans,
with which our actuary is quite familiar, and our Synod from
this viewpoint is largely an industry.

The proposed plan provides the following:
1. Employees’ Eligibility for Participation

A. All lay employees of Synod, and those of subsidiary cor-
porations authorized by Synod, who are currently between the
ages of 35 and 55 will participate.

B, All such employees now under the age of 35 will partici-
pate upon becoming the age of 35.

C. Employees now over the age of 55 will not be formally
included in the plan. They may be permitted to work as long