# LCMS Convention Proceedings_St. Louis Missouri_1953_S503
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 503

ake any recommendations either for or against such
We will, however, continue to study the matter, and
ognize the necessity of a special report to Synod, we
“such a report.to the convention itself.

Epwin A. Sommer, Executive Secretary

Report of the Accounting Department

PENSION FUND BALANCE SHEET

ASSETS Sept. 30, 1950 Sept. 30, 1951 Sept. 30, 1952
CS anne eneneeeeeceteneeneee $8,326,580.68 $9,650,398.15 $11,338,243.21

‘Accrued on Investm’ts . 74,195.22 85,381.30

So ceceenneceneeeereeeeeenneeneneenene 19,820.80 121,644.73 213,881.73

$8,346,401.48 $9,846,238.10 $11,637,506.24

$7,445,280.23 $8,932,379.67 $10,522,144.45

. . 564,862.61 659,946.40 798,869.87

: 110,481.13 142,557.64 172,836.48

or Inv. Depreciation _. 38,606.91 38,626.91 106,555.99
son Invest. (Undist.*) 187,170.60 72,127 .48* 37,099.45*

$8,346,401.48 $9,846,238.10 $11,637,506.24

FISCAL YEARS
10-1-48 to 9-30-50 10-1-50 to 9-30-51 10-1-51 to 9-30-52 Three-Year Total

——-$1,047,662.81  $1,321,324.05 — $1,570,929.18  $3,939,916.04

ted ... 158,898.35 186,182.15 216,961.04 562,041.54
’ Sub.
He. 10,022.91 12,678.88 16,064.22 38,766.01

Receipts — New Money

ag. the past triennium, Synod’s Pension Fund has grown
bly, as is evidenced by the comparative figures above.
le shows receipts by fiscal years, which run from
September 30. Receipts during the fiscal year ended
er 30, 1952, were the largest in the history of the Fund.
growth is brought about by increased membership as
Acreased employer’s contributions as established by. the
‘Convention. The graduated scale of employer’s rates
upon is as follows: 1951—5%, 1952—-6%, 1953 —
d thereafter — 8%. It is significant to note that approxi-
'% of all employers who are members of the Pension Fund
wing this scale of increased rates. Equally significant is

at most large congregations, those employing several
as many as six or eight teachers, have adopted the
paying Pension Fund contributions in behalf of their

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