LCMS Convention Proceedings St. Louis, Missouri — 1962, Page 146

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146 RESOLUTIONS — COMMITTEE 10

new Benefit Program and to submit such other amend-
ments to the Synod at its next regular convention; and
be it further

Resolved, That the Board of Directors of the Synod
and the agencies of the Synod participating in the pres-
ent Lay Retirement Plan are hereby authorized and
directed:

1. to change, modify, or terminate the present Lay
Retirement Plan and the trust being administered in
connection therewith, in such manner as the Board of
Directors of the Synod shall deem necessary or advis-
able to effect a proper integration of the present Lay
Retirement Plan and of the trust into the new Benefit
Program; and

2. that the officers of the Synod, the Lay Retirement
Committee, the agencies of the Synod, as well as their
respective boards and officers, and the trustees under
the Lay Retirement Plan are hereby authorized and
directed to take such actions and execute such docu-
ments as the Board of Directors of the Synod shall
direct in order to effectuate such change, modification,
or termination of the present Lay Retirement Plan;
provided, however,

3. that no change, modification, or termination shall
be effected in the present Lay Retirement Plan which
would cause or permit any part of the corpus or income
of the trust to be diverted to purposes other than for the
exclusive advantage of participants under the Lay Re-
tirement Plan or which would cause or permit any por-
tion of the assets of the trust to revert to, or to become
the property of, the Synod or any of its agencies; and
be it further

Resolved, That each of the preceding resolutions and
the approvals, authorizations, and directions therein
contained hereby are made expressly subject to the
Board of Directors’ obtaining favorable rulings from the
Internal Revenue Service concerning the tax aspects of
the new Benefit Program; and be it further

Resolved, That in carrying out the foregoing reso-
lutions the Board of Directors shall be governed by the
following guidelines:

1. Consider the possibility of making Social Security
features optional for the professional participants;

2. Consider the possibility of separating the welfare
and pension programs;

3. Expedite the implementation of the new benefit
program with all due caution; and be it further

Resolved, That the convention here assembled go on
record encouraging all qualifying lay employees of the
Synod, of all Districts of the Synod, of colleges and
seminaries, as well as lay persons serving boards, agen-
cies, and other organizational units, wholly within the
church, to join “The Concordia Benefit Association (un-
incorporated)”; and be it finally

Resolved, That the convention express its thanks to
the Pension Study Committee for its faithful work.

Action: This resolution was adopted.

Report on Synod’s Retirement Plan
for Lay Employees
RESOLUTION 10-03
Report 811, pp. 348, 349, Reports and Memorials

Wuereas, The Lay Retirement Board has continued
to serve with faithfulness and concern for the dedicated
lay employees of the Synod, its boards and agencies,
colleges and seminaries, Districts, and congregations
during the past triennium; therefore be it

Resolved, That the 45th regular convention here as-
sembled accept this report with gratitude, especially
thanking the board for the services performed on behalf
of these faithful lay co-workers in the service of the
church.

Action: This resolution was adopted.

To Increase Minimum Amount of Pension
Payment
RESOLUTION 10-04
Memorial 812, p. 349, Reports and Memorials
Unprinted Memorial 812-A, p. 104, Today’s Business

Whereas, The 1962 synodical subsidy for the present
Pension Plan administered by the Board of Support and
Pensions for professional workers is $1,360,000.00; and

Wuereas, Concern has been expressed in open hear-
ing regarding the amount of subsidy required to sup-
port the present Pension Program; and

Wuereas, The adopted proposals of Report 810 (as
contained in the fifth “Resolved” of Resolution 10-02)
are designed to help relieve the needs of retired and
about-to-retire professional workers; and

Wuereas, Additional assistance is currently available
through the Board of Support and Pensions, therefore
be it

Resolved, That the proposal to increase minimum
pension payments by 5 percent per year for each year
served beyond the age of 65, and the proposal to increase
minimum pension payments to retired pastors and
teachers from $100 per month to $150 per month, be re-
ferred to the Board of Directors and the Board of Sup-
port and Pensions for consideration under the provisions
of Resolution 10-02.

Action: This resolution was adopted.

To Appoint Committee to Study a Proposed
Housing Plan
RESOLUTION 10-05

Memorial 821, pp. 352, 353, Reports and Memorials

Wuereas, The Word of God directs the church to
honor and to provide well for those who serve them in
the Word and doctrine; and

Wuereas, Our Synod has made a wonderful begin-
ning in doing this by means of the Synod’s Pension
Plan and the newly approved Concordia Benefit Asso-
ciation, which make provision for the servants of the