LCMS Convention Proceedings St. Louis, Missouri — 1965, Page 238

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238 UNPUBLISHED REPORTS AND OVERTURES

gees and other persons urgently in need of the com-
passionate haven of a new homeland.

3. To facilitate the reuniting of families.

4. To facilitate the entry of persons possessing spe-
cial skills or other capacities needed by the American
economy and culture.

5. To admit annually a reasonable number of the
persons described above on an objective basis of selec-
tion which, while discriminating, will not be discrimi-
natory with respect to race, national origin, color, or
religion, testifying thereby to the United States’ recogni-
tion of the interlocking and mutual interests of all na-
tions with regard to the migration of people, the inter-
action of cultures, and respect of universal human
rights.

and be it further

Resolved, That the congregations of The Lutheran
Church — Missouri Synod be strongly encouraged to
welcome immigrants into their fellowship and to assist
them in continuing integration into community life.

—_

Boarp oF SoctaL WELFARE
H. F. Winn, Executive Secretary

10. Pension and Welfare Program

[10-12 Un]
Lay Retirement Fund
Schedule of Receipts and Disbursements

(Final Audited Figures)
(Cf. p.351, Convention Workbook)

Receipts
Initial contributions -..._--....--..---
Contrib. Jan. 1, 1948, to

Jan, 31, 1965 -...-------.----------- 1,720,255
Earnings from investments -..------- 539,993

$ 150,000

$2,410,248
Income Distributed
Pensions paid to Retired Workers $325,972
Income allocated for investment
depreciation & contingencies 62,500
Operating expenses, including
actuary fees, auditing, etc. -. 19,909 408,381

Fund balance, Jan. 31, 1965 -.... $2,001,867

Assets as of January 31, 1965

Cash _.. ooo... ie nnnnne nnn $ 5,277
Investments

Government bonds .......-.
Government agency bonds
Utility bonds —......
Railroad bonds . 9,944
Industrial bonds _. 143,841
StoeKs ___._.u----2---------------n nee 869,268

-- $446,135
105,105
471,990

Total investments -._....----.----- 2,046,283
Accounts receivable _..
Accounts payable -_.......-----

Accrued interest receivable... 10,758 13,575

$2,065,135
Less investment and interest
reserve ___._.------—--------—-------------- 63,268

Fund balance and undistributed

income __..-----.—-----..----—--—--~-- $2,001,867

[10-13 Un]

To Increase Lifetime Pension
for Certain Members
of Original Pension Plan Over and Above
Their Earned Pension, etc.

Wuereas, The original Pension Plan was designed
for an economy which was assumed to remain stable,
which assumption obviously did not materialize; and

Wuereas, At this time most of the members cannot
even claim $100 monthly as an earned pension; and

Wuereas, In 1962 the Synod resolved to adjust the
aforementioned situation by realigning the Pension
Plan in keeping with the purchasing power of the
dollar at the time of retirement; and

Wuereas, In 1962 the Synod also resolved that all
members of the old plan who were 50 years old or older
would be eligible to receive the benefits of the new
plan; therefore be it

Resolved, That members of the old, or original, Pen-
sion Plan who are not included in the Concordia Retire-
ment Plan because they are 60 years old as of Jan. 1,
1965, and who retire at age 65 (or thereafter up to
5 additional years) and who have served during all
eligible years since the plan was established, be granted
a lifetime pension of $100 per month over and above
their earned pension; that those who have served dur-
ing two thirds of the eligible years be granted a life-
time pension of $75 per month over and above their
earned pension; that those who have served during
one third of the eligible years be granted a lifetime
pension of $50 per month over and above their earned
pension; and that, as of Jan. 1, 1965, their widows are
eligible to receive 60% of the respective combined

ension.
P WILFreD F. KRUSE Cart H. SCAER

ALBERT V. Maurer Martin C, PIEPER
[10-14 Un]
To Amend a Section of the Pension Plan

Wuereas, The New Concordia Retirement Program
is highly recommended; and

Wuereas, The old Pension Program will be grad-
ually faded out; and

Wuereas, It ought to be the prerogative of the
worker to decide whether his personal contributions
to the old Pension Plan be left in escrow or not; and

Wuereas, It might well appear to be unethical for
the Synod to retain such moneys when requests come
for the release of those personal contributions; there-
fore be it

Resolved, That the Pension Plan be amended to pro-
vide the worker the right to withdraw his personal
contributions to the Pension Plan if he desires to,
whether he enters the Concordia Retirement Plan

or not.
ALL SAINTS LUTHERAN CONGREGATION

Livonia, Mich.
Date B, Kruecer, Pastor