# LCMS Convention Workbook_St. Louis Missouri_2001_S14 # Machine transcription, uncorrected — CHI Digital Archive (demonstration) 14 SYNODICAL REPORTS To coordinate the national program mentioned above, Worker Benefit Plans hired Eustolio Gomez in January 2000. The Plans accepted the financial risk of providing this service with help from the LCMS Foundation and LCEF. With the development of the national program, using a revolving three-year approach, all the Districts of the Synod will be asked to participate in a program intended to provide the basics of financial education and establish a network of financial advisors, along with a trained corp of volunteer advocates, throughout the Synod. An advisory council of representatives from the entities named at the beginning of this report provides assistance and resources as needed to the coordinator. In addition, the following objectives have been identified for the overall national program: * A ten-year plan, creating three triennial periods, with each trien- nium having its own emphasis. The first emphasis will be Per- sonal Budget Planning. The second will be Personal Financial Awareness. The third will be Personal Retirement Planning. Each > triennium will build on the previous triennium in that all three will always stress the fundamentals of planning finances. Presenting the program in each District in a variety of ways. Dur- ing each year of the triennium, one-third of the Districts will re- ceive a personal presentation. One-third of the Districts will re- ceive a multi-media presentation through the use of various types of media such as CUENet, videos, etc. The final third of the Dis- tricts will receive printed material written specifically for this au- dience. This will be on a revolving basis, where, over the course of the triennium, each District will experience each of the vari- ous forms of media of this presentation. Tools for use of the implementation of this program. “The Key to the Planner” booklet has been written and is ready for use. It is available in printed format as well as on the Internet. Another tool being developed is a worksheet for the cascade method of debt reduction. ¢ Communication initiatives, such as a dedicated newsletter that heightens understanding of scriptural wisdom in financial man- agement. Web-based and video conferencing interactive resources, courses, and bibliographies. National continuing educational programs with consistent, bibli- cal stewardship-sensitive curriculums tailored for target audi- ences ranging from the various stages of life planning for adult members to age-appropriate curriculums to be implemented throughout our school systems and within our congregations. A “training the trainers” certification to ensure quality in educa- tional financial planning programs. This includes stewardship ex- ecutives and business managers in Districts. Recruitment of persons who will help to ensure the effectiveness of the program. One group is comprised of volunteers who will be asked to serve as a resource to our workers, encouraging them to participate, and to make follow-up telephone calls to those per- sons who attend the presentations. Another group is made up of the financial planners who will provide professional, experienced, no-pressure, no-product, and no-fee planning assistance to those who want to take advantage of the opportunity. Continuing educational programs for certification with consistent, biblical stewardship-sensitive curriculums tailored for the volun- teers, financial planners, and other professionals. A Financial Crisis Network with the expressed purpose of pro- viding a means by which workers, District Presidents, and other concerned entities of the church can identify and access resources designed to assist workers who find themselves in need of imme- diate financial counseling. Implicit in this network is the mainte- nance-of the worker’s privacy. * A survey/questionnaire to obtain relevant, definable statistics and trends as well as to gauge the effectiveness of this program. ¢ Special savings initiatives for individuals and organizations within our communities of faith that position them to reclaim bib- lically mandated acts and programs that restore and redeem lives 2001 Convention Workbook and improve the quality of life in our communities while promot- ing the Gospel. Concordia University System/Board for Higher Education and Synodical Seminaries * Higher Education institutions are monitoring the accumulation of debt of students. How effective this monitoring is remains to be seen. We continue to encourage the administrations of institutions to work diligently to provide information and advice in this mat- ter. * CUS initiated a $400M endowment effort to assist in this matter. Within the last 18 months, this effort has increased endowments at the institutions in excess of $54M at the 10 colleges/universi- ties. The seminaries are also working in this area; their endow- ment funds are now near a level that will provide sufficient funds to cover the cost of tuition for all seminary students. * BHE/CUS office continues to work on a plan to incorporate a set of educational experiences for all students to work through the importance of personal financial management. This approach should have its effect but only insofar as students consider per- sonal financial management an important aspect of life. * BHE/CUS office will continue to work with institutions to make this an important aspect of students’ experiences. The Institute for Christian Financial Management (ICFM) is a new initiative within the CUS. Its hub is being developed at our Concordia University Wisconsin campus. This initiative has ac- complished the following: * Provided leadership in the establishment of an Advisory Council on Retirement Planning and Financial Education in the LCMS. * Proposed a financial education program for students in the Con- cordia University System and the seminaries, scheduled for test- ing in the 2001-2002 academic year. ¢ Provided support for WBP and the national program with Web page resources. * Begun development of financial management and education cur- riculum materials for long-term, continuing education for church workers and lay leaders. * Established a long-range goal to develop a Managing Money with Wisdom curriculum for the LCMS school system—early child- hood to post graduate. LCMS Foundation and Stewardship Ministry * Provided financial support for the work of the Coordinator for Retirement Planning and Financial Education. * Made provision for establishing and managing special funds to which contributions can be made and from which portions of the principal and/or interest ean be used to underwrite both the de- velopment and implementation of programs established by vari- ous entities named in this report. ¢ Worked in partnership with the Institute for Christian Financial Management (Concordia University Wisconsin) to develop an in- tensive curriculum to provide financial education to students and current church workers. ¢ Supported the development and expansion of the work of the Co- ordinator for Retirement Planning and Financial Education as part of the Advisory Council for Retirement Planning and Financial Education. Lutheran Church Extension Fund (LCEF) * Obtained a Letter Ruling from the U.S. Department of Labor making professional church workers (rostered) eligible borrow- ers from the LCEF. ¢ Established a Direct Housing Loan Program for the professional church worker (PCW) utilizing appropriate underwriting guide- lines.