# LCMS Convention Proceedings_St. Louis Missouri_1953_S509
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 509

f; yone District is participating and making regular contribu-
behalf of its employees, but it should be remembered that
few of our Districts have regular lay employees. All col-
ith the exception of Oakland have made contributions in
of their lay employees. However, several colleges are now
This situation is apparently due to an assumption that
Jusion of employees under the amended Federal Social Se-
ct obviated coverage under Synod’s Plan. This is not the
e amendment of Synod’s Plan recognizes coverage under
al Security Act. The effect is similar to many industrial
yhich supplement or are integrated with social security ben-
: ir. Committee discussed the matter at length. It felt that
Plan.as amended should prevail. However, in order to
the matter in an orderly manner, our Committee decided
tion the Board of Directors to memorialize Synod for a
in. the Plan so that certain agencies which do not wish to
te may be excluded under prescribed conditions from
tion in the Plan.

investment of the retirement fund is under the super-
~ Synod’s Board of Trustees, who are charged with the
sibility of managing, investing, and re-investing all of
Trust Funds.

balance sheet of the Fund as of January 31, 1953, is as

Assets Liabilities
_____ $ 17,376.11 Lay Retirement Fund — $517,704.16
ts _- 498,240.00
d Premiums
counts _.__ 1,030.83
terest Re-
le on
ents _ 1,057.22
$517,704.16 $517,704.16

A. T. Lempace, Chairman
Cuartes E. Grorricu, Secretary

itions Proposed by the Retirement Committee
Synod’s Retirement Plan for Lay Employees
eAS, Synod in 1947 authorized adoption of a Retirement
y Employees, which Plan became effective as of Janu-
» for the benefit of qualifying employees of “Synod,
“Publishing House, and other agencies of Synod as have
‘existence by authority of Synod”; and
s, The Plan was amended as of January 1, 1951, so