# LCMS Convention Workbook_St. Louis Missouri_1969_S481
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

468 STEWARDSHIP AND FINANCES; RETIREMENT AND BENEFITS

and Teachers, and older workers in the United States,
and all the workers in Canada and in South America,
with their employing agencies, are continuing to con-
tribute into the Pension Plan for Pastors and Teachers.

Again, at the present time all pastors and teachers
retiring at age 65 or later are receiving their entire
synodical pension from the Pension Plan for Pastors
and Teachers. This situation will continue through 1969
and 1970. In 1971 most of those who retire promptly
at age 65 will begin to receive a small portion of their
retirement benefit from the Concordia Retirement Plan,
but by far the major portion will come from the Pension
Plan. Actually, 10 or more years will pass before those
retiring at age 65 will receive approximately half of
their retirement benefit from the Pension Plan and half
from the Concordia Retirement Plan. And many of
those who will retire a number of years from now will
receive an annuity from the Pension Plan which, to-
gether with the Concordia Retirement Plan benefit, will
result in a total benefit greater than the maximum Con-
cordia Retirement Plan benefit.

Pension Registration

Total Registration Since Oct. 1, 1937

Pastors 7,649
Male Teachers _.— 3,625
Women 614
Lay Missionaries 53
Vicars 20 11,961
Pension Fund Members (1/3169)
(Paying Members — 826)
Pastors 5,088
Male Teachers —______. 2,247
Women _____ iB
Lay Missionaries _.___ si 7,621
Retired and Disabled
(Receiving Pension)
Pastors 766
Male Teachers —.___- 294
Women 60 1,120
Deceased
Pastors 1,566
Male Teachers ___ = st—<Ct«é« AO
Women 35
Lay Missionaries ____ 1 2,042
Withdrawn
Pastors 249
Male Teachers ______—s————SC<~aA AOD
Women 269
Lay Missionaries 19
Vicars 1 1,178
11,961
Congregations Participating __.__—=—=—=—>=_===_ «55,918
Institutional Boards 145
Synodical and District Boards... —==SS ti
6,120
Retirements
In 1967

83 workers retired — average earned annuity, $92.86
9 new disability pension or annuity cases were initiated
77 new widow pensioners or annuity cases were initiated
124 died: 87 retired workers and 37 active workers, leav-
ing 52 and 34 widows respectively

In 1968
98 workers retired — average earned annuity, $97.54
15 new disability pension or annuity cases were initiated
77 new widow pensioners or annuity cases were initiated
110 died: 74 retired workers and 36 active workers, leav-
ing 53 and 24 widows respectively

Pension and Support Beneficiaries

Receiving a Pension or an Annuity: (as of Jan. 31, 1969)

Retired Workers 984
Disabled Workers 60
Age Annuities 40
Widow Pensioners 1,023
Annuity Only 88
Total 2,195 2,195
Support Beneficiaries
Retired Workers 15
Widows of Workers _____————=«~i2'B;
Dependent Children. —~—~d‘S
Total 178 178
Total of All Beneficiaries 2,373
Cost
Total Spent by Board of Pensions and Support
In 1966 (2 1 66—1 31.67) __._ «833,024,766
In 1967 (2 1°67—1°31.68) ___ ss ——C=«iS3' 1066153
In 1968 (2 1.68—1 31.69) _. ss —S—~C«S34« 182,407
The Cost to the Synod:
2/1 66—1 31, 67 ____. $2,268,765

2/1 67-1 3168 __ ss SCsé 206,063
2.1 68—1 31.69 ——— 2,179,435
The turning point has been reached. The cost is
gradually going down. The increase in recovered an-
nuities plays an important part in this gradual decrease.
Here are the figures:

2-1 66—1/31/67 ____ SSS 756,001
2/1 67—1 31,68 —-—-— 900,552
2/1 68—1 31/69 ———— 1,002,972

New Developments
Pension Work Committee

For several years the subject of the future direction
of the Pension Plan for Pastors and Teachers has been
discussed by the Board of Pensions and Support and
by the Board of Trustees. Various items in this general
subject have been mentioned — the investment yield
relative to the annuity purchase rate, the amount of the
annuities and their bearing on subsidy, and splitting the
assets into several funds. As a consequence of their
mutual interest, a Work Committee was established
early in 1968 consisting of members of the Board of
Pensions and Support and the Board of Trustees to
study and make recommendations for the future direc-
tion of the Pension Plan for Pastors and Teachers. The
Work Committee was made up of the following mem-
bers:
Ralph E. Petering, member of the Board of Trustees —

chairman of the Work Committee
Arthur Wellman, member of the Board of Trustees
Robert D. Murray, member of the Board of Pensions

and Support
Rev. John Knippenberg, executive secretary of the