# LCMS Convention Proceedings_St. Louis Missouri_1950_S1272
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS

onal accounts and 5,300 employers’ accounts in behalf of workers),
End the interest is computed separately on. each account. This is
ite a task and involves much work and figuring. So far interest
edits have been made at the rate of 214%, which is the rate the
d has been earning. The Balance Sheet reflects earnings before
istribution to the various Pension Fund accounts.

. Year-End Statements

After the interest credit has been entered on the accounts, a
g statement is sent to each active member. This statement shows the
Jeginning balance, amount of interest credit for the fiscal year,
mount of personal contributions, amount of employer’s contribu-
ons, and other credits, if any. A letter explaining the statement
and reflecting the Balance Sheet in comparative form is sent along.
‘Members are encouraged to notify us in the event our figures do
not agree with personal records.

Graduate Subsidy

‘The above schedule shows that this special benefit distributed
-¥ to those eligible amounted to $10,425.36 during the last fiscal year.
‘This new benefit was begun in 1943 and has been granted since
. then to all graduates from our seminaries and teachers’ colleges
' who join within 12 months after they become eligible and whose
‘employing organization is making full 4% contributions. For the
. first two years of his membership the worker personally remits 2%
of his salary, Synod supplying the remaining 2% from budget
. funds. For the next two years the worker remits at the rate of 3%
and Synod 1%. After that he remits at the full rate of 4%.
Tf you have any questions, please remember that your inquiry
will receive our prompt and courteous attention.
Cuartes E. Grosricu, Financial Officer

Respectfully submitted this 25th day of March, 1950, in Chi-
cago, IL, to The Lutheran Church — Missouri Synod, to be pre-
sented at the convention June 21—30, 1950, at Milwaukee, Wis.

Tae Boarp or Suprort aNp PENSIONS

Rev. Oscar Fenner, Chairman

Rev. B. W. Janssen .

Rev. Cart ProrenvAvER

ADOLPH W. OBERMANN, Recording Secretary
E. A. Grors

ArtHur C. Sommer

Enpcar H. Strieter

Atrrep H. Hanpricu

Arraur H. Haun

Rev. Epwin A. Sommer, Executive Secretary