LCMS Convention Proceedings St. Louis, Missouri — 1969, Page 160

Transcription machine transcription, uncorrected

⤓ Download .txt · copy text

160 RESOLUTIONS

task of making wise use of moneys through investments;
therefore be it

Resolved, That the Synod accept the report of the
Board of Trustees and express gratitude to the mem-
bers (Dr. Martin E, Strieter, chairman, Ralph E. Peter-
ing, Robert W. Selle, Arthur T. Wellman, Walter Koch,
Erwin A. Wesche, Dr. Oliver Harms, and Dr. Milton
Carpenter) and others for faithful service during the
biennium.

Action: Adopted (5).

To Receive Report of Board of Pensions
and Support
RESOLUTION 12-10

Report 12-05 (CW, pp. 467—471)

Committee 12 has spent hours in careful study of the
above-mentioned report and has heard further personal
reports from the officers responsible for these written
reports. Great strides in the upgrading of the Pension
Plan have been achieved through the efforts of the
board and the specially appointed work committee.
Committee 12 has also discussed in detail the report of
the Pension Work Committee and submits the following
resolution:

Resolved, That the convention receive the report of
the Board of Pensions and Support and commend the
board members for their faithfulness and dedication in
carrying out the intent of the Pension Plan, and that we
extend our gratitude to Walter E. Lichtsinn, chairman,
Clarence M. Moses, Emmett H. Fastenau, Fred A. Heis-
ler, Robert D. Murray, and John Knippenberg, execu-
tive secretary, for their tireless efforts to provide the
maximum in benefits for the workers enrolled in the
Pension Plan; and be it further

Resolved, That the Work Committee Report (CW,
pp. 468—470) be accepted and that the convention com-
mend the Work Committee (Ralph E. Petering, chair-
man, Arthur Wellman, Robert D. Murray, Rev. John
Knippenberg, Earl Haake, and Herbert W. Schuppan)
for their far-reaching efforts to upgrade the Pension
Plan; and be it further

Resolved, That a work committee be a regular fea-
ture of the Board of Pensions and Support, Board of
Managers— Concordia Plans, and Board of Trustees,
and that future work committees be charged with the
responsibility of reviewing item No.9, a to e (CW,
p. 470) —

a. Distribution of accumulated surplus in the An-
nuity Fund;

b. Appropriateness of the use of 50% of the appre-
ciation in the common stock fund;

c. Mortality experience of our retired lives compared
with assumptions in the annuity purchase rate;

d. Investment yield and outlook for the future in
comparison with the interest assumption in the annuity
purchase rate;

e. While the Work Committee does not recommend

the separation of the various funds into segregated asset
accounts, this subject should also be left open to re-
view; and be it finally

Resolved, That we commend for their study and con-
sideration the feasibility of (a) possible alternate op-
tions for retirees at the time of retirement, e. g., lump-
sum payments rather than monthly annuity; (b) clos-
ing the accounts of members where the amounts are
small and retirement is years in the future; and (c) any
other item that would improve the benefits of the Pen-
sion Plan and grant the maximum return for the en-
rollees.

Action: Adopted (5).

To Approve Reports of Board of Managers
for Concordia Welfare Plan, Concordia
Survivor Plan, Concordia Retirement Plan
RESOLUTION 12-11

Reports 12-06 (CW, pp.471—475); 12-39U (URO, p.
84)

Wuereas, The preliminary report of the Board of
Managers for Concordia Retirement Plan and Concordia
Welfare Plan (12-06, CW, pp. 471 ff.) and this board’s
supplementary report (12-39U, URO, p. 84) reflect, in
the judgment of Committee 12, marked diligence, initia-
tive, and resourcefulness in carrying out the objectives
of the plans under their direction: to propose and gain
required authorization of the greatest benefits for the
greatest number of present and retired workers and
their dependents covered by the plans, consistent with
prudent stewardship of resources; therefore be it

Resolved, That preliminary and supplementary re-
ports of the Board of Managers be approved in their
entirety; and be it also

Resolved, That the convention express its gratitude
to the board and its administrators (Herbert W. Schup-
pan, chairman, E. H. Fastenau, Henry E. Gaertner, Her-
man F. Feucht, Herbert P. Haschke, Robert H. Mugge,
Robert V. Schnabel, Earl E. Haake, administrator, Lo-
renz F. Wahlers, associate administrator).

Action: Adopted (5).

To Decline Overtures to Raise Minimum
Monthly Pension
RESOLUTION 12-12
Overtures 12-20 (CW, pp.479—480); 12-370 (URO,
p. 83)
Introduction

In considering the various pension overtures, Com-
mittee 12 believes it is profitable to review the philoso-
phy and provisions of the Synod’s pension plans. There-
fore a few preliminary, positive statements may serve
as background to the recommendations concerning the
overtures considered by the committee.

1. The retirement plans were designed as an inte-