# LCMS Convention Proceedings_St. Louis Missouri_1953_S665
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

FINANCIAL MATTERS 669

sinployer’s accounts are fully paid at the close of the fiscal
eptember 30. The young graduate personally remits 2% of
ary basis during the first two years of his membership, and

is followed: ch ecks e of handling and

: ’ and Process:
slips made up when nece (bh Prepared for deposit, rem ind supplies the remaining 2% from budget funds. For the
employer's), receipts mailed”, as ue for personal — buff-colored two years the worker remits at the rate of 3%, and Synod
to the various acco , finally the remittances fi ides 1%. Thereafter the worker pays the full 4%. During all
Gunts. The Fund are 5 time, however, his employing organization remits at the

$7,000 each business day. *S Browing at the rate of abo

ut mij-employer’s rate established by Synod.

B.;.Should you have any questions, we shall make every effort to
ge your inquiry our prompt and courteous attention.

Pension Funp AccountTine DEPARTMENT

RUSSELL E. Rotiine
‘Tue Boarp or SUPPORT AND PENSIONS
Rev. Oscar Fepper, Chairman
ties as they become payable. i ‘ : Apotex W. OBERMANN, Recording Secretary
toy Norsert FLe1scHer Rev. C. PFOTENHAUER
Arraur H. Hann E. A. Grote

78. At
i the close of each Pensi . Artaur C.SommerR Orto C. Davi
\ Rev. B. W. JANSSEN ALFRED H. Hanpricu

Rev. Epwin A. Sommer, Executive Secretary

Federal Insurance Contributions
(Memorial 816)
. Wuereas, The Pension System of The Lutheran Church — Mis-
. souri Synod has become extremely expensive to both congrega-
Year-end Statements “ tions and workers, requiring payment of 8% of total earnings plus
15% in lieu of house rental by the congregation, and 4% of the
total earnings by the worker; and

years, the Pension F
2.6%, slightly more than the amounts credited ¢
ited to

an annual statement is sent to each acti ered on the accounts,
shows the beginning balance, amount ot fete This statement Wuereas, The Federal Insurance Contributions Act (Social
Sark, the fe of personal and employer's conta for the fiscal ' Security) requires payment of only 142% of salary up to a maxi-
deposits e fecal year, and other credits (if any) ’ tin r eceived mum of $3,600.00 per year from both employer and employee, with
showing ‘the ae sosidy A letter accompanies the maa! a possible maximum of 2% from each in 1954; and
ce Sheet in co : ement,
membe ‘ mparative fo : Wuereas, The monthly returns from the Federal Insurance
their personel”, ae of any differences that may evice resting Contributions Act compare very favorably with the Pension System
tds and those shown on the statement etween of Synod and also include family benefits in case of the worker's

Graduate Subsi d death; and

¥ Wuereas, The Federal Insurance Contributions Act, as last
amended to cover additional classes of workers, requires only
eighteen (18) months of eligibility for maximum benefits at

teachers’ oe
after they nie atigthé on “e Pension Fund within 12 months retirement; and
e,on tgs ?
© condition that both their personal Wuereas, The Government of the United States has indicated

cd

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