# LCMS Convention Workbook_St. Louis Missouri_1983_S158 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) 158 STATEMENTS OF NET ASSETS CONCORDIA DISABILITY AND SURVIVOR PLAN ASSETS Investments at market value (cost-- $7,476,435 in 1982; $18,466,425 in 1981) Short term investments Bonds, notes and debentures Common stocks Preferred stocks Funds on deposit with insurance company, at cost--Note E Amount due from inegurance companies--Note D Contributions receivable Accrued interest and dividends Prepaid expenses and other a6sets Equipment (net of allowances for depreciation of $9,210 in 1982 and $6,692 in 1981) Data processing software (net of amortization of $39,338 in 1982 and 55,340 in 1981) Cash: Demand deposits Investment account LIABILITIES Accounts payable Due to the Concordia Retirement Plan--Note H Estimated liability for disability claims incurred but not reported NET ASSETS See notes to financial statements. STATEMENTS OF CHANGES IN NET ASSETS CONCORDIA DISABILITY AND SURVIVOR PLAN ADDITIONS Investment incone: Interest incone Dividend income Earnings on funds on deposit with insurance companies Contributions from menbers Other DEDUCTIONS Survivor benefits: Lunp sun death benefits Menbers' death prior to retirement Menbers' death after retirement Members’ death while disabled Disability benefits Insurance preniums Interest expense on amount due to the Concordia Retirement Plan--Note H Adzinistrative expenses Net realized and unrealized gains (losses) in fair value of investments--Note C Transfer to the Concordia Retirement Plan~-Note H NET INCREASES (DECREASES) Net assets at beginning of year-- restated Note I NET ASSETS AT END OF YEAR See notes to financial statements. EXHIBIT B Page 2 December 31 1982 1981 (Restated - Note I) $ 2,114,083 $ 2,876,000 3,011,749 6,322,151 3,057,824 8,193,379 59,850 8,243,506 17,391,530 7,106,234 7,694,819 808,006 318,517 1,409,796 1,029,264 109,438 308,651 4,860 1,117 16,002 6,905 209,807 51,322 69,637 26,635 46,471 59,209 116,108 85,844 18,023,757 26,887,969 93,665 23,049 7,470,669 300,000 7,864 334 23,049 $19,159,423 $26,864,920 EXHIBIT B Page 3 December 31 1982 $ 1,557,991 282,422 1,840,413 630,696 5,497,569 292 ~T, 968,970 44,178 139,971 4,124 2,413 190,686 859,345 1,050,031 3,524,417 1,206,016 508,242 6,288,706 1,680, 264 2,878,892 (21,264,653) (16,705,497) 26,864,920 $10,159,423 198) (Restated - Note 1) $§ 1,357,295 350,627 1,707,922 653,612 4,004,259 219 6,366,012 139,550 16,877 2,838 159,265 159,265 1,418,814 __211,340 1,789,419 4,576,593 (1,551,500) 3,025,093 23,839,827 26,864,920 ADMINISTRATION AND PROGRAM IMPLEMENTATION EXHIBIT B Page 4 NOTES TO FINANCIAL STATEMENTS CONCORDIA DISABILITY AND SURVIVOR PLAN December 31, 1982 NOTE A--SIGNIFICANT ACCOUNTING POLICIES Investments are stated at market value. All office space is rented from The Lutheran Church - Missouri Synod. Equipment and data processing software are recorded at cost. Deprecia- tion and amortization are computed on the straight-line method over the estimated useful lives of the equipment and software. The cost of certain administrative expenses incurred for the benefit of each of the Concordia Plans (Retirement, Disability and Survivor, and Health) and the cost of shared equipment are allocated to each of the plans based upon management's estimate of the use of the service. NOTE B--DESCRIPTION OF THE PLAN The Concordia Disability and Survivor Plan (formerly the Concordia Survivor Plan) has been established for those individuals serving The Lutheran Church = Missouri Synod. The Plan is administered by a Board of Managers which is appointed by the Board of Directors of The Lutheran Church - Missouri Synod. All contributions are paid by the employer organization. The Concordia Disability and Survivor Plan provides for monthly income benefits for totally disabled members, and benefits (lump-sum and/or monthly income) to survivors upon the death of a member before reaching retirement age. In addition, the Plan provides for lump-sum benefits upon the death of a dependent. A more comprehensive description of the Concordia Disability and Survivor Plan and ite benefits is contained in its Summary Plan Description, which is available from the Worker Benefit Plans office. The monthly survivor income benefit ts fully insured through The Travelers Insurance Company for benefits arising from deaths occurring subsequent to July 1, 1969. Benefits arising from deaths prior to that date are funded by the Plan. The lump-sum death benefits payable upon the death of a dependent, except for amounts exceeding $2,000, are fully insured through The Prudential Insurance Company. The Plan can be terzinated by The Luthern Church - Missouri Synod in convention. Following the effective date of termination, the Board of Managers shall utilize and apply the assets of the trust fund and any other assets then or thereafter available under the Plan in a reasonable EXHIBIT B NOTES TO FINANCIAL STATEMENTS-~Continued Page 5 CONCORDIA DISABILITY AND SURVIVOR PLAN NOTE B-~DESCRIPTION OF THE PLAN~-Continued and expedient manner so as to provide for all or any part of the benefits under che Plan. In no event shall any part of these assets be used except as permitted by the Plan. NOTE C--INVESTMENTS The fair value of individual investments that represent 5% or more of Plan assets as of December 31, 1982 are as follows: Fair Value at December 31, 1982 United States Treasury Note, $1,000,000 principal amount, 14.625%, due February 15, 1992 $1,207,500 United States Treasury Note, $1,000,000 principal amount, 14.02, due May 15, 1987 1,119,370 No individual investment exceeded 52 of Plan assets at December 31, 1981. During 1982 and 1981 the Plan’s investments (including investments bought, sold as well as held during the year) appreciated (depreciated) in fair value, as determined by quoted market prices, by $2,878,892 and $(1,551,500) as follows: Net Appreciation (De- Fair Value prectation) in Fair at End Value During Year of Year Year ended December 31, 1982 Short-term investments A $2,114,083 Bonds, notes and debentures 1,431,017 3,011,749 Common stocks 1,449,099 3,057,824 Preferred stocks (1,224) 59, 85¢ $ 2,878,892 $8,243,506