# LCMS Convention Proceedings_St. Louis Missouri_1944_S339
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

Financial Matters ‘889

they begin to draw their annuity. This complicated opera-
elays by 60 days the mailing date of the annual statements.
Quite properly the socialized allocation could have been dis-
ued. when Synod voted the Old Age Benefit, since this feature
corporated the thought which was basic in the socialized allo-
mn.” Weighing all of the arguments that have been presented
smorial 807, page 329), we recommend that it be
Resolved, That Synod discontinue the present system of
cialized allocation of employer contributions as a feature of

ynod’s Pension Plan.
Vit

: Despite the fact that we have recommended the discontinuance |
the original socialized allocation, we believe that the funda-

‘mental concept of aiding the brethren who are in the lower salary

brackets is so sound that even with Old Age Benefit in effect some -
ther plan should be proposed as a substitute for socialized alloca-

on; such a plan should be simple in its operation. and of more

tual help to the brethren who are to be benefited.. We there-

fore recommend that it be

Resolved, That Synod from the proceeds of its Permanent

‘Support Fund credit to the account of all paid-up members in the

ion System whose annual accumulation ‘is less than $50.00

“(respectively $100.00 where the congregation is participating), ‘the

sum necessary to establish a minimum annual accumulation of

0.00 (respectively $100.00 where the congregation is: partici-

‘pating). (Nore: Estimated cost: $2,500 for 209 accounts)

VII
+. Naturally, it is in the interest of the entire church

A. To operate the Pension Plan as economically and efficiently
‘as possible with a minimum of bookkeeping for the Home Office
and with the minimum possibility of incurring delinquencies among
“the members of the Pension Fund. We therefore recommend

<- Resolved, ‘That all workers be encouraged to have their con-
“ gregational treasurer (respectively their Board treasurer) subtract
the worker’s payment toward the Pension Fund from their salary
‘check and that the congregation’s and the worker’s contributions,
roperly earmarked, be remitted by the congregational treasurer.

-’ B. To accumulate the largest possible reserve in the Pension -
“ Contingent Fund in order to hasten the day when young members
“of the Pension Fund' who become incapacitated may be adequately
“supported by the Pension Contingent Fund without resource to the