# LCMS Convention Proceedings_St. Louis Missouri_1938_S311
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters 311

account of the confusing variety of funds (the regular Board of
Support treasury, the L. L. L. Endowment Fund, the Annuity Gift
Fund, the Permanent Support Fund, and the Conference Pension
Fund) it was amalgamated with the Permanent Support Fund.
Although the term “pension” was omitted, the original purpose of
the fund was to strengthen a Pension Fund when the time of its
creation by Synod would come. The interest of this fund should
have been accumulated, but in view of the insufficiency of the sub-
sidies granted to our veterans and widows it was permitted to be
used for the immediate need. Now the time has come when the
Permanent Support Fund can be used for that purpose which its
originators and most of its contributors had in mind. Since its
present income is only about $6,000 to $7,000, its withdrawal from
the budget income will not hamper the work of Synod. On the
contrary, without a reasonable death-benefit many of our workers
will be tempted to seek such protection from insurance companies,
our resources will be scattered, the pension plan will suffer, its
purpose will not be fully achieved, and as a result heavier demands
will be made on the Board of Support and on Synod’s budget.

The Second Special Benefit

We furthermore petition Synod

2. “To instruct the Board of Support to grant to workers re-
tiring at the age of seventy years or over after a membership of
not less than one year a free subsidy for life to increase the pension
annuity to a minimum of $300 a year and that of his widow to
$180 a year, provided that the worker has been active in the Mis-
souri Synod for not less than thirty-five years and that his widow
was married to him for at least ten years prior to his retirement.
A proportionate reduction of the worker’s and the widow’s subsidy
is to be made if the worker failed to join within three months after
he became eligible for membership or if his salary-paying organiza-
tion participated not at all or only in part. If this income does not
provide for the reasonable needs, the Board of Support shall
supplement the annuities after the regular application has been
submitted, and according to the current rates.”

This second special benefit will be only a temporary measure.
Since the actual or potential pension annuities of the workers will
increase every year, the subsidy necessary to bring them up to
a minimum of $300, respectively $180, will decrease in proportion
from year to year, and when the regular pension annuities will have
reached the amount of $300, there will be no more subsidies, and
the entire arrangement is automatically abolished.

The advantages of this feature are obvious.