# LCMS Convention Proceedings_St. Louis Missouri_1953_S663
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

4
“i
a
ar
:
wary

acy

Pte Rt

ible to receive th
e
€ near future, begin making

The Delinquenc
yY Problem
64. We have the further serious

4 survey of 116 of
ot only ten had not fully reached a remi
the end of 1952, but were in the process o

’

FINANCIAL MATTERS 665

uction of Subsidized Pension When Employer’s Rate
; Was Not Increased to 8%
ynod instructed this Board to offer a recommendation re-
g the deductions from the subsidized Pension benefits where
congregation fails to increase its rate of participation from
to the desired 8% beginning January 1, 1954.
The regulations of the Pension Fund, 10.47 b (2), now pro-
that a reduction of the worker’s and widow’s subsidy is to
made if the worker failed to join within three months after he
ame eligible for membership or if his salary-paying organization
ipated not at all or only in part.
c. The Board of Support and Pensions has fixed these deduc-
ons at $15 from the annual pension, which presently is $720
year, for each year during which the worker’s contributions
re not made in full, and a further deduction of $15 from the
ual pension during which the employer’s payments were not
Fmade in full.
” d. Now that Synod has resolved that, beginning January 1,
1954, the employer’s contributions should be made at the rate of
8% of the worker’s cash salary plus 15% if he has the free use
‘of a dwelling, we recommend to Synod,
e. That after January 1, 1954, an additional reduction. of $2.50
shall be made from the annual subsidized pension of a worker for
“each of the four additional percentages by which the employer’s .
" rate of contributions was not increased. Thus, for instance, if after
* January 1, 1954, the congregation continues to remit at 4%, the
additional deduction will be $10 from the minimum subsidized
pension for each such year of 4% participation.
f. The deduction from the widow’s subsidized pension shall be
50% of the husband’s deduction. ,

Endowments and Gifts

67. The benefits of our Pension Fund would be greatly en-
hanced if we had, or were to receive, large endowments, as is the
case in several Protestant Pension Funds. It is true, we do have
the L. L. L. Fund of almost $3,000,000, the earnings of which flow
into our annual appropriation for Pension and Support benefits.
We have a few other permanent endowment funds which, together
with the L. L. L. Fund earnings, during 1952 provided an income
of $80,051.27.

68. May we plead with all members of our congregations to
give favorable consideration to the making of bequests in behalf of
our Pension Contingent Fund or to the current treasury of the

+