LCMS Convention Proceedings St. Louis, Missouri — 1965, Page 174

Transcription machine transcription, uncorrected

⤓ Download .txt · copy text

174

Concordia Welfare Plan, supplemented by an oral
report presented by Mr. George Matzat, administrator
of the Concordia Plan,

Action: This resolution was adopted.

To Urge and Encourage Participation
in Concordia Retirement Plan and
Concordia Welfare Plan
RESOLUTION 10-08
Report 10-05 (CW, pp. 351, 352)

Wuereas, The Lutheran Church — Missouri Synod,
in accordance with Resolution 10-02 of the Cleveland
Convention (1962), has adopted a revised Retirement
Plan and a new Welfare Plan, the combination of which
provides comprehensive protection for the workers of
the church and their dependents against the principal
financial hazards of life during active service, during
a period of disability, after retirement, and for survivors
after death; and

Whereas, Sound financial planning and risk under-
writing require the establishment of time limitations
on open and unrestricted enrollment for the protection
of all participants; and

Wuereas, Full participation on the part of all con-
gregations will eventually benefit the congregations and
their workers; therefore be it

Resolved, That The Lutheran Church — Missouri
Synod in convention assembled urge that all eligible
congregations and affiliated agencies adopt both the
Concordia Retirement Plan and the Concordia Welfare
Plan and that all eligible workers be encouraged to
participate to the fullest extent.

Action: This resolution was adopted.

To Implement the New Synodical
Pension Program
RESOLUTION 10-09
Overture 10-06 (CW, p. 352)

Wuereas, The recommendation of Overture 10-06
has been acted upon and the new synodical pension
program has been inaugurated; therefore be it

Resolved, That no further action need be taken.

Action: This resolution was adorted.

To Raise the Minimum Pension
RESOLUTION 10-10

Overtures 10-07, 10-08, 10-09, 10-10, 10-11 (CW, pp. 352
to 354); 10-13 Un (URO, p. 45)

There are a number of overtures concerning raising
the minimum pension benefits of retired workers,
widows, and dependents. Since several of these indi-
cate a possible misunderstanding, your floor committee
feels it necessary to offer a word of clarification.

RESOLUTIONS —

ee |

COMMITTEE 10

At the 1962 convention of the Synod there were
adopted the Concordia plans in the benefits of which
all active workers in the Synod may share, either in
the Concordia Retirement Plan or the Concordia Wel-
fare Plan, or both (see 10-08).

The $65 million assets of the Pension Fund are
restricted funds, $55 million of which is the amount
in the accounts of the active workers, $8 million of
which is the amount in the accounts of the retired
workers, and $2 million of which is in the funds par-
tially restricted as to use (see 10-07, 10-11).

Whereas, The minimum subsidized pension was
established by the Synod in 1953 at $100 per month
for retired workers, and $60 per month for widows; and

Wuereas, The prior pension plan benefits for pro-
fessional workers adopted by the Synod in 1937 was
adequate in its day but is inadequate now because of the
rising cost of living, thus creating a hardship for retired
pastors, teachers, widows, and dependents; and

Wuereas, The Synod must continue to be concerned
with the welfare of those retired servants of the Lord,
widows, and dependents, and Christian love compels
us to help alleviate the present economic need of those
retired pensioners; therefore be it

Resolved, That the minimum subsidized pension
previously established by convention for retired work-
ers past and future be raised to $150 per month, and $90
per month for widows; and be it further

Resolved, That the Budget Review Committee, to-
gether with the Board of Directors, be authorized and
instructed to make the necessary appropriations for
the increased pension benefits beginning with the new
fiscal year, February 1, 1966.

Action: This resolution was adopted.

To Amend “Handbook” 10.15 ¢
(Support and Pensions)
RESOLUTION 10-11
Report 10-15 Un, Recommendation 1 (URO, pp. 45, 46)

Wuereas, The Concordia Retirement Plan is now in
operation, and Handbook 10.15c is in need of revision;
therefore be it

Resolved, That Handbook 10.15c, which reads as
follows:
c. The workers in the Synod who are not partici-

pating members in Synod’s Pension Plan forfeit all
claims to support benefits,

be amended to read as follows:
c. Workers in the Synod who are not participating in
the Synod’s Pension Plan for Pastors and Teachers forfeit

all claims to the benefits provided under Section 10.47
except as otherwise provided in Section 10.47 e.

This resolution is to become effective immediately
upon adoption.

Action: This resolution was adopted.