# LCMS Convention Proceedings_St. Louis Missouri_1953_S634
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

652 FINANCIAL MATTERS

In further explanation of above. tabulation we submit th fi
e fol. -

lowing. footnotes:

11. » The increase in Pensi
; ‘ nsion benefits of $87 :
ine previous year 1s accounted for by the fac that on mre vet
convention in Chicago in 1947 increased the minimu ynod at the
ension from $50 to $60 a month. m Retir ement

decrease,

15. ® Because the accumulati
ations of reti
pon Fund members provided less than 2008 of the ee
ension of $60 to retired and disabled men and

16. © i
but rot ind in the total cost (last column) for 1951 and 1952
payee an in any other column, are the Christmas bon
of $18,490 in 1951 and $18,675 in 1952 a
17. We submit now a number of statisti ‘re
cal re i
a Posie? Pensioners, Disability Pensioners, Widow, veeciving
the Fon , Support cases to workers who were not members of
» and to the widows and orphans of non-members of

Pension Fund as well
a8 a report on deaths :
members and Support beneficiaries, among Pension Fund

FINANCIAL MATTERS 653

Old Age Pensioners

18. Since the Pension Fund was inaugurated October 1, 1937,

have paid an Old Age Pension to 609 workers in Synod who

tired after age 65. Of these pensioners 375 are still receiving

Nhe Old Age Benefit of $60 a month, or $720 a year. During the

Mast fifteen years the Lord called 214 in death, and 20 have either

ome active again as servants in the Church or have otherwise

ed gainful employment, earning more than $120 a month

nd are now receiving only the actual earned retirement annuity

on their Pension Fund credits.

$ 19. During 1952 we entered upon our list of Pension bene-
fficiaries, 37 retiring workers whose average age was 69 years;
23 pastors, average 70; 2 professors, average age 70; and 16 teachers,
verage age 67. These servants of the Church had rendered an
average of 44 years of service to the Lord.

: 20. Their average Pension Fund accumulation from personal
‘and employer’s contributions is $2,580.48. The retirement annuity is
$227.26 a year, or $18.92 a month, yet 35 receive the $60 Retirement
Pension a month, 1 $52.50 and 1 $30 a month. Synod supplies from
-its appropriation to the Board of Support and Pensions a subsidy
‘sufficient to provide an Old Age Pension of $60 a month when all
personal and employer’s Pension Fund contributions have been
made from October 1, 1937, to the date of retirement.

Retirement Annuity Only

21. Four other men, 1 pastor and 3 teachers who also retired
in 1952, are receiving only the earned retirement annuity which
averages $17.36 a month, because their wages from part-time work
are greatly in excess of the ceiling of $120 a month. Nine other
retired men receive only the Retirement Annuity. One disabled
woman receives only her Disability Annuity and five pastors’
widows, or former widows of pastors, receive only their Widows’

Annuity.
Disability Pensions

22. Because of disability, during 1952, 19 servants of the Word
under age 65, 17 pastors and 2 teachers, resigned arid became
eligible to receive the Disability Pension which Synod promises
its workers who participate in the Pension Fund with their em-
ployers. The cause of their retirement was: Nervousness, 6; heart
ailments, 5; tuberculosis, 4; other causes, 4.

23. Their average accumulation from personal and employer’s
contributions was $1,869.50. Their Disability Annuity was $98.52,
or $8.21 a month. Yet Synod is paying a Disability Pension of $60
to 12 of these 19. Others receive less than $60 a month because
either the workers themselves or their congregations or boards did

st

* Rp a,