# LCMS Convention Proceedings_St. Louis Missouri_1950_S615
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

616 FINANCIAL MATTERS

and expenditure. During the period October 1, 1937, to January 31,

1950, the sum of $100,875 was disbursed in the form of Death
Benefits to the families of 471 deceased Pension Fund members:

Often the question is asked: What has become of the L. L. L.
Endowment Fund? It is definitely still intact. It totals $2,697,890. 43,
and its earnings are designated for the support of the Veterans
of the Cross. In 1949 these earnings totaled $64,775.28 and were
a part of Synod’s appropriation in behalf of our beneficiaries.

You will see that our disbursements were increased by more
than $100,000 in 1948 over 1947 as a result of the resolution of
the Chicago Convention whereby the Old Age Benefit was in-
creased from $50 to $60 a month, and all Support grants were in-
creased by approximately 20 per cent if there was actual need.
Thus the average benefit paid to each account is about $450 a year.
The average benefit to a retired or disabled worker is approx-
imately $720 a year, and the benefit to the widow $360 a year.

A further cause for the increase was the resolution to grant
a special Old Age Benefit of $60 a month to those workers in
Synod who had retired prior to October 1, 1937, and who at the
time of such retirement were at least 65 years of age. The widows
of such retired workers were to receive $30 a month. The presi-
dent of Synod, Dr. J. W. Behnken, ruled that this special benefit
should be made available to those retired workers and their widows
who could show need for this special benefit. Practically all retired
workers coming under the above classification already were re-
ceiving Support. Six retired workers made application for the spe-
cial benefit; and since they had shown need, favorable action
was taken. Forty-one widows coming under the above classifica-
tion were also already receiving Support. No new applications
from such widows were required. Inasmuch as Support benefits
were being remitted regularly to all but six of these special old-age
beneficiaries, the increased cost to Synod was not as large as had
been anticipated. We found that, upon increasing the Support
already granted to retired workers to $60 a month and to widows
to $30 a month, our disbursements were increased by approximately
$13,000 annually. These beneficiaries are now receiving this special
Old Age Benefit regularly, without making annual formal applica-
tion therefor. It is of interest to know that thirty-two of these
retired workers and thirty-eight widows in the same classification
are still receiving this special Old Age Benefit.

We wish also to report that, having been granted permission by
Synod’s Board of Directors to do so, Synod’s resolution, passed
at the Fort Wayne Convention, regarding the Widow’s Old Age
Benefit, was made retroactive in behalf of twenty-six widows
who husbands were members of the Pension Fund but died prior

FINANCIAL MATTERS 617

to February 1, 1942, and at the time of their death had not yet

reached age 68. Until the convention in 1941, 68 was retirement age.
In fairness to these widows our Board felt that they, too, should
become the recipients of the Old Age Benefit of $30 a month be--

- eause their husbands were beyond age 65 at the time of their death.
' The added cost as a result of this action was approximately $3,300.

The total expenditures during 1949 in behalf of our 1,834 bene-

‘ficiaries was $579,485.58. The operating cost of our Board was

$15,386.86. The total cost was $594,872.44. However, the accounts
of the retired and disabled or deceased members yielded Pension
credits in the sum of $45,589.96. After these Pension credits were
subtracted from the gross expenditures, the actual cost to Synod in
payment of Pension and Support was $549,282.48.

It is our mutual hope and the expectation of all concerned
that in the not too distant future the earned benefits of the Pension
Fund will appreciably reduce the sum requested as an appro-
priation from Synod’s treasury for Support. Just how long this
will take we are not prepared to state or even predict. We do
know that the participation of workers in Synod is continuing at
a satisfactory rate, although there still are almost 1,000 workers
in Synod who have not yet joined the Pension Fund. Following are:

Pension Fund Statistics
Total Registration on January 31, 1950

Pastors __.
Teachers _
Professors — 184
Workers Not Serving Congregations oe _. 430
Female Workers 0 t—i«é
6
Members Died . anna eee 466 281
Members Retired _ AT
Members Withdrawn, } No | Longer Active in Synod ___. 184
— 1,067
Total Active Members 0 5200
Congregations Enlisted 000 8880
Institutional Boards 0 ti‘
Synod’s and the Districts’ Salary-Paying Boards ss -52

The percentage of participation on the part of our workers
is about 86 per cent. This is much more favorable than the par-
ticipation of ministers in other Protestant church pension groups,
which is only 60 per cent. In only a few of the Protestant denom-
inations is participation obligatory.

The participation of our congregations is also improving and
at present stands at about 80 per cent. It has been our observation
that a congregation will seldom refuse to participate in the Pension