# LCMS Convention Workbook_St. Louis Missouri_1969_S485
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

472 STEWARDSHIP AND FINANCES: RETIREMENT AND BENEFITS

workers. In 1965 the Synod made the first major re-
vision in that program when it put into effect for its
workers the Concordia Retirement Plan and the Con-
cordia Welfare Plan. These plans represent a tremen-
dously bold and forward step in the area of benefits
for church workers.

Perhaps the most representative description of de-
velopment of attitude toward the Concordia Plans dur-
ing the past biennium is the change from hesitancy
and skepticism to wholehearted acceptance and hearty
appreciation for what these plans are doing for the
workers and their families in the Synod. We share with
you herewith a review of the significant items in the
conduct of these plans over the past 2 years.

Administration

Since the last synodical convention the terms of
appointment of four members of the Board of Managers
expired. The Board of Directors of the Synod re-
appointed each of these members, Rev. E. H. Fastenau.
pastor of St.Paul Lutheran Church, Baltimore: Mr.
Herman F. Feucht, retired senior vice-president of
American National Bank of Denver: Rev. Henry E,
Gaertner, pastor of Trinity Lutheran Church, Rochester,
Minn.: and Mr. Herbert P. Haschke, secretary-treasurer,
Robert D. Straus Company, Houston. to 4-year terms.

After the hectic first 2 years of the Concordia Plans.
during which time the board met 11 times, the more
desirable objective of quarterly meetings is being at-
tained. Seven meetings were held during 1967—68.

The administrative staff remains as was at the time
of the last report and gives direct attention to the areas
of general administration, claims, business management,
and enrollment.

Concordia Welfare Plan

The greater amount of meeting time during these
2 years has been devoted to attention to the provisions
of the Concordia Welfare Plan. Benefit liberalizations
at a rapid pace were common. The objective of the
board was to attempt to maximize as nearly as possible
the benefit structure of the plan at as early a date as
possible. The board feels that with the benefit im-
provements of Jan. 1, 1969, this objective has been
tentatively reached.

Benefit coverage under the plan is being maintained
in the areas of health care, disability, death, and sur-
vivors for whom health care coverage is free. Major
liberalizations were made or new coverage added in
the following areas:

dental and oral surgical procedures — limited

certain extended-care facility expense

lifetime maximum increased to $20,000

3 deductibles per family reduced to 2

60-day accumulation period for deductible increased
to calendar year

Waiting period for disability benefits reduced from
30 to 14 days

maternity covered as any other illness
mental illness benefits increased

reimbursement schedule liberalized for survivors and
non-Medicare retirees

student dependency age raised to through age 26

eligibility date for synodically assigned workers
moved forward

third person liability deleted

coverage during personal leave of absence made
available

Concordia Retirement Plan

Very few and only minor revisions have been made
in the Concordia Retirement Plan. These are embodied
in the 1968 edition reprint. Coverage as originally es-
tablished continues in the areas of retirement benefits,
long-term disability benefits, and survivor death
benefits.

Major attention continues to be given to the matter
of qualification of the plan by the Internal Revenue
Service. Various factors including changes in IRS re-
quirements have delayed this qualification. We are
hopeful that this objective will be achieved at an early
date.

Valuation

Each year the plans are valuated by competent ex-
perts. The valuations continue to show that the opera-
tion of these plans is being conducted on a sound finan-
cial and actuarial basis.

Exhibits

At the end of this report there appear exhibits giving
data on the various phases of Concordia Plans opera-
tions — enrollment, benefit payments, finances, and
audit. You will see from them how wide has become
the participation of synodical workers and employing
organizations in the plans and the high degree of bene-
fits already made available.

On the Agenda

Improvements and liberalizations will continue to
be made as the possibilities for doing so present them-
selves. Current agenda items for future consideration
include possible extension of coverage to workers out-
side the United States and a liberalization of the vesting
provisions of the Concordia Retirement Plan. Studies
will be undertaken to determine whether these changes
can be made.

In Closing

The members of the Board of Managers recognize
and accept the heavy responsibility which the manage-
ment of these expansive Concordia Plans places upon
them. It is our earnest intention to continue to serve
the Synod through constant improvement of these plans
in order to keep them among the best available. We
trust that through them the members of our church