LCMS Convention Proceedings St. Louis, Missouri — 1965, Page 173

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3. A worker retiring at the age of 65 or over shall
be entitled to receive his old-age benefit in full if his
annual earnings from church work and/or secular work
do not exceed an average of $150 a month. If he receives
average earnings in excess of $150 a month from church
and/or secular work, a corresponding reduction shall be
made in his old-age benefit. This restriction on earnings
shall not apply to the retired worker beginning with
the month after he has attained the age of 72.

This resolution is to become effective immediately

upon adoption.
Action: This resolution was adopted.

To Permit Discontinuance of Pension
Contributions After Age 72

RESOLUTION 10-03
Report 10-02, Recommendation 2 (CW, p.350)
Resolved, That Handbook 10.41 g and h:

g. “Members’ Contributions”: The basic payments of
members shall be fixed at the rate of 4 percent of the
workers’ salary basis as herein defined.

h. “Employers’ Contributions”: The basic payments
of the congregations and other salary-paying organiza-
tions shall be fixed at the rate of 8 percent of the respec-
tive workers’ salary basis as herein defined.

be amended by adding the following sentence:

Contributions from member and/or employer may at
the option of the worker be discontinued for an active
worker at attainment of age 72 without any reduction
in his benefits under Section 10.47 by reason of such
discontinuance of contributions.

This resolution is to become effective immediately

upon adoption.
Action: This resolution was adopted.

To Eliminate Privilege of Additional
Contributions to Pension Fund

RESOLUTION 10-04

Reports 10-02, Recommendation 3 (CW, p.350); 10-15
Un, Recommendation 3 (URO, p. 46)

Wuereas, Handbook 10.43 b permits the making of
additional deposits to provide additional annuity at the
worker’s retirement; and

Wuereas, This privilege has been exercised in very
few cases; and

Wuereas, The great majority of current additional
deposit accounts are so small as to make the eventual
added annuity payments insignificant; and

Wuereas, The administrative difficulties encountered
far outweigh the benefits to be attained; therefore be it

Resolved, That Handbook 10.43b be changed to
read:

b. Prior to July 1, 1965, any worker or beneficiary
may at any time make contributions additional to his
required contributions. Such contributions are to be
credited to his individual account in full in the same
manner as the regular members’ contributions. On thirty
days’ notice from a worker the board may refund to him
a part or all of the amount contributed by him over and
above his regular required contributions and not yet
applied to provide an annuity for him, provided, how-
ever, his required contributions are made in full and

i DDSOSESS 55s

PENSION AND WELFARE PROGRAM

173

to date, it being understood that the board shall have
the right to apply any such additional accumulation to
pay the arrears of the member’s contributions.

and that Handbook 10.43 i be changed to read:

i. Prior to July 1, 1965, any congregation or board may
at any time make payments in addition to the required
contributions, which additional payments are to be
credited in full to the respective individual accounts,
provided all required contributions have been made in
full to the account of such workers.

This resolution is to become effective immediately
upon adoption.

Action: This resolution was adopted.

To Exempt Retirement Plan Participants
from Pension Plan

RESOLUTION 10-¢5
Report 10-02, Recommendation 4 (CW, p. 350)
WHEREAS, With the adoption of the Concordia Re-
tirement Plan, Handbook 10.42 no longer applies to

those workers who have become Participants in the
new program; therefore be it

Resolved, That Handbook 10.42 be amended by the
addition of the following statement: “This section shall
not apply to a worker who has become a participant
in the Concordia Retirement Plan,” The section will
then read:

Participation in the Synod’s Pension Fund shall be
required of every pastor, professor, missionary, teacher,
deaconess, or other full-time church worker who accepts

a participant in the Concordia Retirement Plan.

This resolution is to become effective immediately
upon adoption.

Action: This resolution was adopted.

To Withdraw Original Recommendation 5
of the Board of Support and Pensions
RESOLUTION 10-06

Report 10-02, Recommendation 5 (CW, p.350)

Wuereas, Recommendation 5 (CW, p.350) is em-
bodied in Recommendation 8 of Report 10-15 Un ( URO,
p. 47); therefore be it

Resolved, That Recommendation 5 (CW, p. 350) be
withdrawn.

Action: This resolution was adopted.

To Receive Report of Board of Managers
for Concordia Retirement Plan
and Concordia Welfare Plan
RESOLUTION 10-07
Report 10-05 (CW, pp. 351, 352)

Resolved, To receive the report of the Board of
Managers for the Concordia Retirement Plan and the