# LCMS Convention Proceedings_St. Louis Missouri_1950_S1264
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 785

i; A further cause for the increase was the resolution to grant
pecial Old Age Benefit of $60 a month to those workers in
ynod who had retired prior to October 1, 1937, and who at the
 fime of such retirement were at least 65 years of age. The widows
f such retired workers were to receive $30 a month. The presi-
lent 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
orkers 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
s 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
whose husbands were members of the Pension Fund but died prior
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-
. cause 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-