# LCMS Convention Proceedings_St. Louis Missouri_1941_S383
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters 383

. amount of his required personal contribution and to remit
the Pension Fund;

at Synod encourage the laymen to present the matter of
ioris to their congregations.

ion of Synod: These recommendations were adopted.

Improvement of Pension System
(Memorial 808)

The following suggestions for the improvement of the Pension
stem are offered for your kind consideration. The reasons that
ompted us to make these are as follows:

1. In order to make the Pension System a complete success, we |
enlist all the younger workers, as also the candidates active

:2. The death benefit should be increased.

"8. Any worker to enter the system should have the privilege
f doing so without paying back to the beginning in order to get
he. full benefit.

4. A reserve ought to be built up, so that the system will have
ds to pay its operating expenses; also the Contingent Fund
should be increased, so that eventually the members can receive

greater benefits.
; How to Accomplish This

1, Quite a number of the younger workers carry life insurance.
They do not like to give this up entirely; hence they cannot pay
this and the cost of the Pension. At that, we must have the youth
if we expect to survive. If we had an insurance policy to offer
them in what is known as group insurance, payable out of the
_ payments made to the Pension Fund, we feel that this would prac-
tically make all willing to join the system.

1b. The candidates active in the service receive, as a rule,
a small salary. We suggest that they be placed on a basis of
2 per cent. of their salary, until such time as they have a per-
“manent call, when they will be on the 4-per-cent. basis. This, too,
should make the congregation more willing to pay 2 per cent.

2. After the death of the worker there are usually doctor’s
bills and other expenses to pay, and the money now paid will not
admit doing this. The worker who passes away earlier in life
usually leaves a number of children. This will require a heavier
expense for the widow. For this reason there should be a dif-
ferential in the amount paid on the death of the worker. This,
too, can be taken care of by what is known as group insurance.

3. Instead of being necessary to pay back to the beginning in.
order to receive the full benefit of the payments, we suggest that