# LCMS Convention Proceedings_St. Louis Missouri_1962_S147 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) 146 RESOLUTIONS — COMMITTEE 10 new Benefit Program and to submit such other amend- ments to the Synod at its next regular convention; and be it further Resolved, That the Board of Directors of the Synod and the agencies of the Synod participating in the pres- ent Lay Retirement Plan are hereby authorized and directed: 1. to change, modify, or terminate the present Lay Retirement Plan and the trust being administered in connection therewith, in such manner as the Board of Directors of the Synod shall deem necessary or advis- able to effect a proper integration of the present Lay Retirement Plan and of the trust into the new Benefit Program; and 2. that the officers of the Synod, the Lay Retirement Committee, the agencies of the Synod, as well as their respective boards and officers, and the trustees under the Lay Retirement Plan are hereby authorized and directed to take such actions and execute such docu- ments as the Board of Directors of the Synod shall direct in order to effectuate such change, modification, or termination of the present Lay Retirement Plan; provided, however, 3. that no change, modification, or termination shall be effected in the present Lay Retirement Plan which would cause or permit any part of the corpus or income of the trust to be diverted to purposes other than for the exclusive advantage of participants under the Lay Re- tirement Plan or which would cause or permit any por- tion of the assets of the trust to revert to, or to become the property of, the Synod or any of its agencies; and be it further Resolved, That each of the preceding resolutions and the approvals, authorizations, and directions therein contained hereby are made expressly subject to the Board of Directors’ obtaining favorable rulings from the Internal Revenue Service concerning the tax aspects of the new Benefit Program; and be it further Resolved, That in carrying out the foregoing reso- lutions the Board of Directors shall be governed by the following guidelines: 1. Consider the possibility of making Social Security features optional for the professional participants; 2. Consider the possibility of separating the welfare and pension programs; 3. Expedite the implementation of the new benefit program with all due caution; and be it further Resolved, That the convention here assembled go on record encouraging all qualifying lay employees of the Synod, of all Districts of the Synod, of colleges and seminaries, as well as lay persons serving boards, agen- cies, and other organizational units, wholly within the church, to join “The Concordia Benefit Association (un- incorporated)”; and be it finally Resolved, That the convention express its thanks to the Pension Study Committee for its faithful work. Action: This resolution was adopted. Report on Synod’s Retirement Plan for Lay Employees RESOLUTION 10-03 Report 811, pp. 348, 349, Reports and Memorials Wuereas, The Lay Retirement Board has continued to serve with faithfulness and concern for the dedicated lay employees of the Synod, its boards and agencies, colleges and seminaries, Districts, and congregations during the past triennium; therefore be it Resolved, That the 45th regular convention here as- sembled accept this report with gratitude, especially thanking the board for the services performed on behalf of these faithful lay co-workers in the service of the church. Action: This resolution was adopted. To Increase Minimum Amount of Pension Payment RESOLUTION 10-04 Memorial 812, p. 349, Reports and Memorials Unprinted Memorial 812-A, p. 104, Today’s Business Whereas, The 1962 synodical subsidy for the present Pension Plan administered by the Board of Support and Pensions for professional workers is $1,360,000.00; and Wuereas, Concern has been expressed in open hear- ing regarding the amount of subsidy required to sup- port the present Pension Program; and Wuereas, The adopted proposals of Report 810 (as contained in the fifth “Resolved” of Resolution 10-02) are designed to help relieve the needs of retired and about-to-retire professional workers; and Wuereas, Additional assistance is currently available through the Board of Support and Pensions, therefore be it Resolved, That the proposal to increase minimum pension payments by 5 percent per year for each year served beyond the age of 65, and the proposal to increase minimum pension payments to retired pastors and teachers from $100 per month to $150 per month, be re- ferred to the Board of Directors and the Board of Sup- port and Pensions for consideration under the provisions of Resolution 10-02. Action: This resolution was adopted. To Appoint Committee to Study a Proposed Housing Plan RESOLUTION 10-05 Memorial 821, pp. 352, 353, Reports and Memorials Wuereas, The Word of God directs the church to honor and to provide well for those who serve them in the Word and doctrine; and Wuereas, Our Synod has made a wonderful begin- ning in doing this by means of the Synod’s Pension Plan and the newly approved Concordia Benefit Asso- ciation, which make provision for the servants of the