# LCMS Convention Proceedings_St. Louis Missouri_1959_S263
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

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CONSTITUTIONAL MATTERS 263

Wuereas, Several independent legal opinions were obtained by
the Board of Directors, one of which suggested the possibility of
amending the regulations governing the Pension Plan to permit
using such funds under certain conditions; and

Wuereas, The 1956 convention of Synod directed the Board of
Directors to appoint a Committee to make a thorough study of the
rules, regulations, and manner in which the synodical Pension
Funds are administered so as to lawfully permit the use thereof
for church-extension purposes or for loans to congregations, and
in accordance with this resolution a committee was appointed as
directed and has submitted its report in Memorial 505; and

Wuereas, It is apparent from its report that this committee
made a careful study of all phases of the Pension Plan, checking
all synodical proceedings from 1932 to 1956, and examining the
Plan as originally put into operation and the contracts by which
workers and congregations have become members of the Plan; and

Wuereas, The original Pension Plan provided that any part of
the Pension Plan could be amended by the Synod in regular con-
vention and the Pension Plan still contains such a provision; and

Wuereas, The Certificates of Participation in the Pension Plan
which have been issued to participants specifically state that the
Pension Plan “as now existing or as hereafter amended” shall
become a part of the Certificate “as though originally therein”; and

Wuereas, The assets of the Pension Fund now exceed
$32,000,000 and there seems to be a general feeling throughout the
Synod that a portion of this large sum should be put to use in the
further extension of the Kingdom, if possible, and earn greater re-
turns than the Pension Fund is earning at the present time; and

Wuenreas, The report of this committee convincingly points out
that while a congregation is a member of the Synod, such mem-
bership is purely voluntary; that the congregation is autonomous,
and membership in the Synod gives the Synod no power over the
congregation’s right of self-government nor any equity in its prop-
erty, and that it cannot be properly maintained, therefore, that
loans to congregations are equivalent to Synod lending money to
itself; therefore be it

Resolved, That the recommendation of the special committee to
study the use of assets of the Pension Fund be adopted and that
a new paragraph “c” be added to Section 10.53 of the Bylaws of the
Constitution of the Synod, reading as follows:

“c. Loans may be made from the Pension Fund to incorporated
congregations holding membership in the Synod; such loans are to