# LCMS Convention Proceedings_St. Louis Missouri_1953_S501
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 501

‘tion of Subsidized Pension When Employer’s Rate
Was Not Increased to 8%

4 instructed this Board to offer a recommendation re-
deductions from the subsidized Pension benefits where
pregation fails to increase its rate of participation from
desired 8% beginning January 1, 1954.
Mie regulations of the Pension Fund, 10.47 b (2), now pro-
a reduction of the worker’s and widow’s subsidy is to
if the worker failed to join within three months after he
ible for membership or if his salary-paying organization
‘not at all or only in part.
e Board of Support and Pensions has fixed these deduc-
15 from the annual pension, which presently is $720 a year,
Syear during which the worker’s contributions were not
iii.‘and a further deduction of $15 from the annual pen-
hich the employer’s payments were not made in full.

"after January 1, 1954, an additional reduction of $2.50
de from the annual subsidized pension of a worker for
our additional percentages by which the employer’s
tributions was not increased. Thus, for instance, if after
& “1954, the congregation continues to remit at 4%, the
| deduction will be $10 from the minimum subsidized
sr each such year of 4% participation.

uction from the widow’s subsidized pension shall be
ge-husband’s deduction.

Endowments and Gifts

‘benefits of our Pension Fund would be greatly en-
ad, or were to receive, large endowments, as is the
Protestant Pension Funds. It is true, we do have
Fund of almost $3,000,000, the earnings of which flow
ynual appropriation for Pension and Support benefits.
few other permanent endowment funds which, together
L. L. Fund earnings, during 1952 provided an income

ay we plead with all members of our congregations to
ble consideration to the making of bequests in behalf of
Contingent Fund or to the current treasury of the