LCMS Convention Workbook St. Louis, Missouri — 1983, Page 158

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158

STATEMENTS OF NET ASSETS

CONCORDIA DISABILITY AND SURVIVOR PLAN

ASSETS

Investments at market value (cost--
$7,476,435 in 1982; $18,466,425 in
1981)

Short term investments
Bonds, notes and debentures
Common stocks

Preferred stocks

Funds on deposit with insurance company,
at cost--Note E
Amount due from inegurance companies--Note D
Contributions receivable
Accrued interest and dividends
Prepaid expenses and other a6sets
Equipment (net of allowances for depreciation
of $9,210 in 1982 and $6,692 in 1981)
Data processing software (net of amortization
of $39,338 in 1982 and 55,340 in 1981)
Cash:
Demand deposits
Investment account

LIABILITIES

Accounts payable

Due to the Concordia Retirement
Plan--Note H

Estimated liability for disability
claims incurred but not reported

NET ASSETS

See notes to financial statements.

STATEMENTS OF CHANGES IN NET ASSETS

CONCORDIA DISABILITY AND SURVIVOR PLAN

ADDITIONS

Investment incone:
Interest incone
Dividend income

Earnings on funds on deposit with
insurance companies

Contributions from menbers

Other

DEDUCTIONS
Survivor benefits:
Lunp sun death benefits
Menbers' death prior to retirement
Menbers' death after retirement
Members’ death while disabled
Disability benefits
Insurance preniums
Interest expense on amount due to the

Concordia Retirement Plan--Note H
Adzinistrative expenses

Net realized and unrealized gains (losses)
in fair value of investments--Note C

Transfer to the Concordia Retirement
Plan~-Note H

NET INCREASES (DECREASES)

Net assets at beginning of year--
restated Note I

NET ASSETS AT END OF YEAR

See notes to financial statements.

EXHIBIT B
Page 2
December 31
1982 1981
(Restated -
Note I)
$ 2,114,083 $ 2,876,000
3,011,749 6,322,151
3,057,824 8,193,379
59,850
8,243,506 17,391,530
7,106,234 7,694,819
808,006 318,517
1,409,796 1,029,264
109,438 308,651
4,860 1,117
16,002 6,905
209,807 51,322
69,637 26,635
46,471 59,209
116,108 85,844
18,023,757 26,887,969
93,665 23,049
7,470,669
300,000
7,864 334 23,049

$19,159,423

$26,864,920

EXHIBIT B
Page 3

December 31

1982

$ 1,557,991

282,422
1,840,413

630,696
5,497,569
292

~T, 968,970

44,178
139,971
4,124
2,413
190,686

859,345
1,050,031
3,524,417

1,206,016
508,242

6,288,706
1,680, 264

2,878,892

(21,264,653)

(16,705,497)

26,864,920

$10,159,423

198)
(Restated -
Note 1)

$§ 1,357,295

350,627
1,707,922

653,612
4,004,259
219
6,366,012

139,550
16,877
2,838
159,265
159,265

1,418,814

__211,340

1,789,419
4,576,593

(1,551,500)

3,025,093

23,839,827

26,864,920

ADMINISTRATION AND PROGRAM IMPLEMENTATION

EXHIBIT B

Page 4
NOTES TO FINANCIAL STATEMENTS

CONCORDIA DISABILITY AND SURVIVOR PLAN

December 31, 1982

NOTE A--SIGNIFICANT ACCOUNTING POLICIES
Investments are stated at market value.
All office space is rented from The Lutheran Church - Missouri Synod.

Equipment and data processing software are recorded at cost. Deprecia-
tion and amortization are computed on the straight-line method over the
estimated useful lives of the equipment and software.

The cost of certain administrative expenses incurred for the benefit of
each of the Concordia Plans (Retirement, Disability and Survivor, and
Health) and the cost of shared equipment are allocated to each of the
plans based upon management's estimate of the use of the service.

NOTE B--DESCRIPTION OF THE PLAN

The Concordia Disability and Survivor Plan (formerly the Concordia
Survivor Plan) has been established for those individuals serving The
Lutheran Church = Missouri Synod. The Plan is administered by a Board of
Managers which is appointed by the Board of Directors of The Lutheran
Church - Missouri Synod. All contributions are paid by the employer
organization.

The Concordia Disability and Survivor Plan provides for monthly income
benefits for totally disabled members, and benefits (lump-sum and/or
monthly income) to survivors upon the death of a member before reaching
retirement age. In addition, the Plan provides for lump-sum benefits
upon the death of a dependent. A more comprehensive description of the
Concordia Disability and Survivor Plan and ite benefits is contained in
its Summary Plan Description, which is available from the Worker Benefit
Plans office.

The monthly survivor income benefit ts fully insured through The
Travelers Insurance Company for benefits arising from deaths occurring
subsequent to July 1, 1969. Benefits arising from deaths prior to that
date are funded by the Plan. The lump-sum death benefits payable upon
the death of a dependent, except for amounts exceeding $2,000, are fully
insured through The Prudential Insurance Company.

The Plan can be terzinated by The Luthern Church - Missouri Synod in
convention. Following the effective date of termination, the Board of
Managers shall utilize and apply the assets of the trust fund and any
other assets then or thereafter available under the Plan in a reasonable

EXHIBIT B

NOTES TO FINANCIAL STATEMENTS-~Continued Page 5

CONCORDIA DISABILITY AND SURVIVOR PLAN

NOTE B-~DESCRIPTION OF THE PLAN~-Continued

and expedient manner so as to provide for all or any part of the benefits
under che Plan. In no event shall any part of these assets be used
except as permitted by the Plan.

NOTE C--INVESTMENTS

The fair value of individual investments that represent 5% or more of
Plan assets as of December 31, 1982 are as follows:

Fair Value at

December 31, 1982

United States Treasury Note, $1,000,000 principal

amount, 14.625%, due February 15, 1992 $1,207,500
United States Treasury Note, $1,000,000 principal
amount, 14.02, due May 15, 1987 1,119,370

No individual investment exceeded 52 of Plan assets at December 31,
1981.

During 1982 and 1981 the Plan’s investments (including investments
bought, sold as well as held during the year) appreciated (depreciated)
in fair value, as determined by quoted market prices, by $2,878,892 and
$(1,551,500) as follows:

Net Appreciation (De- Fair Value
prectation) in Fair at End
Value During Year of Year
Year ended December 31, 1982

Short-term investments A $2,114,083
Bonds, notes and debentures 1,431,017 3,011,749
Common stocks 1,449,099 3,057,824
Preferred stocks (1,224) 59, 85¢
$ 2,878,892 $8,243,506