# LCMS Convention Workbook_St. Louis Missouri_1969_S480
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

STEWARDSHIP AND FINANCES; RETIREMENT AND BENEFITS 467

1959. They are primarily triple A rated industrial and
public utilities bonds yielding approximately 342 per-
cent, which at the time of purchase was considered a
good yield on prime investments for this type of fund.
The Board of Trustees is aware of the rate of return in
this fund when compared to present earning rates. The
fixed income assets of this fund will be allowed to ma-
ture before reinvestment, at which time we can take ad-
vantage of the higher rates.

All additions to or withdrawals from the common
funds will be calculated at market value on a quarterly
basis.

The change of procedure was brought about after
long review and study. It is believed that this method
will provide improved growth as well as higher yield.
This, of course, will not be the immediate effect, but it
is indicated that on the longer term it should provide a
marked improvement.

Exhibit IV is a schedule of the securities at cost by
class for the Sundry Trusts Fund for the year ending
Jan. 31, 1968, and a schedule of the securities at cost by
class for the common funds for the year ending Jan.
31, 1969.

As of Jan. 31, 1969. the market value of the combined
common funds was $2,320,788.

The securities of the common funds are held in safe-
keeping at the St.Louis Union Trust Company, Saint
Louis, Mo.

The membership of the Board of Trustees is:
Dr. Oliver R. Harms, President of the Synod, ex officio;
Dr. Milton Carpenter, Treasurer of the Synod, ex officio;
Dr. Martin E. Strieter (chairman), chairman of the
board, Rock Island Trust Co., Rock Island, Ill.; Mr.
Ralph E. Petering. senior vice-president, Emerson Elec-
tric Co., St. Louis, Mo.; Mr. Robert W. Selle, investment
counselor, Franklin Management Corp., Boston, Mass.;
Mr, Arthur T. Wellman, assistant vice-president, Harris
Trust and Savings Bank. Chicago, Ill.; Mr. Walter Koch,
attorney, Holmes, Roberts, Owen, Denver, Colo.; Mr.
Erwin A. Wesche (secretary), Assistant Treasurer of

the Synod. Martin E. StRIETER, Chairman

Erwin A, WESCHE, Secretary

Exhibit I
PENSION FUND SECURITIES AT COST
Jan. 31, 1968 Jan. 31, 1969
Temporary Investments $ 199,486 27% §$ —_ Ce

U.S. Govt., Federal
Agency Bonds —-__—

Canadian Bonds

Utility Bonds

Railroad Bonds

Industrial Bonds

Private Placements —_

Church Mortgages —_—

12,084,535 15.51
1,344,244 1.72
18,087,663 23.21
1,864,652 2.39
6,230,584 7.99
965,000 1.24
5,432,504 6.97

13,711,079 18.26
1,305,390 1.74
18,239,105 24.29
1,969,324 2.62
6,230,584 8.30
985,000 1.31
5,125,480 6.82

Other R. E. Mortgages - 49,750 07 35,600 05
Common Stocks— U.S. 26,819,724 35.71 31,347,331 40.22
Common Stocks — Can. 215,690 .29 446,898 OT
Total Securities ____ $74,850,612 99.68% $77,839,011 99.87%
Cash —. $245,101 3825 §$ 97,884 13%
Exhibit II
LAY RETIREMENT TRUST SECURITIES AT COST
Jan. 31, 1968 Jan. 31, 1969
Temporary Investments $ 625,000 26.16% $ 200,000 7.84%

U.S. Govt., Federal
Agency Bonds
Utility Bonds

228,660 9.57
471,990 19.76

218,628 8.57
471,991 18.50

Industrial Bonds —____. 143,841 6.02 143,841 5.63

Common Stocks 870,617 36.44 1,498,498 58.73

Total Securities ___ $ 2,340,108 97.95% $ 2,532,958 99.27%
Cash __- 48,841 2.05 S$ 18,630 13%
Exhibit HI
LLL ENDOWMENT FUND SECURITIES AT COST
Jan. 31, 1968 Jan. 31, 1969

U.S. Govt., Federal
Agency Bonds
Utility Bonds
Railroad Bonds
Industrial Bonds
Private Placements ___
Common Stocks

$ 956.114 33.43% $
302.933 10.59
97.495 3.41
55.000 1.92
135,419 4.73
1.309.866 45.80

954,601 33.40%
302,933 10.60
97.495 3.42
35.000 1.92
137,811 4.82
1.309.708 45.83

Total Securities S 2.856.827 99.88 $ 2,857.548 99.99%:
Cash S$ 3,448 12% $ 258 01%
Exhibit IV
COMMON FUNDS SECURITIES AT COST
Fixed Income Account “A”
Jan. 31, 1968 Jan. 31, 1969
Bank Certificate of
Deposit —___ $ 21,000 80%
Total Account “A”
Securities _____ $ 21,000 80%
Cash ~~ $ 331 Ol
Equity Account “B”
Jan. 31, 1968 Jan. 31, 1969
Common Stocks $ 797,044 30.18%
Total Account “B”
Securities $ 797,044 30.18%
Cash —_—_- $ 7,604 129%
Mixed Account “C”
Jan. 31, 1968 Jan, 31, 1969
U.S. Govt. Bonds $ 160,900 7.16% $ 162,033 6.14%;

958.114 36.28
135,225 5.12

508,967 19.28

1,191,877 53.04
170,498 7.58
398 02
646,964 28.79

Utility Bonds

Industrial Bonds
Mortgages ——
Common Stocks ——._

Total Account “C”

Securities $ 2,170,637 96.59% $ 1,764,339 66.82”
Cash ____—s $$ 76,692 3.41% $ 50,147 1.90%
Total Common Funds
Securities $ 2,170,637 96.59% $ 2,582,383 97.80%
Total Common Funds
Cash — _—sSS. 76,692 3.41% $ 58,082 2.20%

See Auditors Exhibit E, Balance Sheet — Trust Funds

Notes 2 and 10 —- Change of procedure from Sundry Trusts Fund to
common trust funds

(12-05)

Report of Board of Pensions and Support

Nowadays when our pastors and teachers in the
United States think of synodical retirement and welfare
plans, most of them have the Concordia Plans in mind.
After all, they and/or their employing agencies are no
longer contributing to the Pension Plan for Pastors and
Teachers, but payments are being made in their behalf
into the Concordia Retirement Plan and both they and
their employing agencies are paying into the Concordia
Welfare Plan. They look to the Concordia Welfare
Plan to pay the major portion of their hospital and
surgical expenses and look both to the Pension Plan
and the Concordia Retirement Plan for their retirement
benefits. Yes, those who entered the work within the
Synod in the last 4 years had never become members
of the Pension Plan and look only to the Concordia
Retirement Plan for their synodical retirement benefit.

But most of the pastors and teachers in the Synod
have an accumulation in the Pension Plan for Pastors