# LCMS Convention Proceedings_St. Louis Missouri_1953_S488
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

488 FINANCIAL MATTERS

In further explanation of above tabulation we sub
lowing footnotes:

11. » The increase in Pension benefits of $87,000. in
the previous year is accounted for by the fact that S
convention in Chicago in 1947 increased the minimum
Pension from $50 to $60 a month.

12. 2? Synod in 1950 at the Milwaukee Convention
grant a Disability Pension of $60 a month to all disabled:
Fund members, effective February 1, 1951. Previously
abled servants of the Word were listed as Support beng
In 1951 they were transferred to the column “Disabled We
under Pension benefits, receiving the Disability Pensig
a month. The number of workers receiving Support
respondingly decreased.

13. Furthermore, because Synod at Milwaukee also
pay a minimum Pension of $30 a month to the widows’ 6
Fund members, more than 152 widows, heretofore ¢
widows receiving Support, were reclassified as widows:itt
the Widows’ Pension. Thus, the number of Support wid
lowered from 497 to 334, and the number of widows
Pensions increased from 150 to 413. We have other: wid
had been receiving only their Widow’s Annuity who
receive the minimum Widow’s Pension instead. :

14, These Disability and Widows’ Pensions were larg
reason why Pension benefits increased from $295,000 -in
$432,000 in 1951. Support benefits in 1951 therefore ah
decrease.

15. 8) Because the accumulations of retired or dec
sion Fund members provided less than 20% of the
Pension of $60 to retired and disabled men and $30 to
a total of only $68,441.70, a subsidy of almost $400,000
treasury of the Board of Support and Pensions was n
make possible the payment of Pension Fund beneft
$462,634.50.

16. ® Included in the total cost (last column) for 1951:
but not included in any other column, are the b
payments of $18,490 in 1951 and $18,675 in 1952.

17. We submit now a number of statistical reports:
our Old Age Pensioners, Disability Pensioners, Widows
the Pension, Support cases to workers who were not mi
the Fund, and to the widows and orphans of non-m
Pension Fund as well as a report on deaths among Pen
members and Support beneficiaries.