LCMS Convention Workbook St. Louis, Missouri — 2016, Page 76

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76

OFFICER, BOARD, AND COMMISSION REPORTS

resources that will help our workers understand the basics of financial wellness beyond saving for retirement.
Ministry Resources: CPS will strive to identify and offer additional ancillary products and services. This will lead to an expanded
offering to LCMS employers as well as supplemental coverage opportunities for workers.
Serving the Workers and the Work of the Church

In order to best serve workers, and to meet our mission, CPS has
put increased emphasis on understanding the unique needs of the
varying ministries of the LCMS. This focus has provided ministries
of all sizes, from one worker to hundreds of workers, the opportunity
to provide comprehensive benefits packages that support the critical
work of staff members and their families.

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CPS Wants to Acknowledge with Heartfelt Gratitude
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Concordia Retirement Plan (CRP)
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Modifications to the CRP were made effective mid-2014 to help preserve the stability of the CRP for the future.
As of December 31, 2015, there were 29,600 workers in the CRP
Traditional Option; 1,600 workers in the Account Option; 21,100 retirees and survivors of retirees; and 12,400 terminated vested members
and their survivors.
In 2015, the CRP provided $198.8 million in primary retirement benefits; $18.5 million in supplemental retirement account benefits; $20.9
million in survivor benefits; and $14 million in the retiree medical
supplement.
The net assets of the Concordia Retirement Plan as of December 31,
2015, were approximately $3.1 billion.

Concordia Retirement Savings Plan (CRSP)
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The CRSP provides workers at eligible employers an opportunity to
establish a 403(b) personal retirement savings account to supplement
their CRP retirement benefit.
In 2015, the CRSP accumulated $34.9 million in employee contributions; $2.9 million in optional employer match funds; and $2.8 million
in employee rollover contributions.
The total assets of the CRSP as of December 31, 2015, were approximately $346 million.

Concordia Disability and Survivor Plan (CDSP)
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The CDSP provides a disability income benefit for enrolled workers
and a preretirement lump-sum death benefit for enrolled workers and
dependents.
In 2015, CPS paid $8.9 million in survivor benefits; $6.9 million in
disability benefits; and $8 million in health benefits for survivors and
disabled members.
The total assets of the Concordia Disability and Survivor Plan as of
December 31, 2015, were approximately $115.9 million.

Concordia Health Plan (CHP)
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Four new health plan options were added for 2015 Open Enrollment.
These were added to provide employers quality benefits and increased
flexibility in advance of the anticipated implementation of the
“Cadillac Tax” within the ACA.
In 2015, approximately 40 percent of CHP members were enrolled
in a High Deductible Health Plan, signaling a shift in the way LCMS
employers are funding health coverage.
In the year ending December 31, 2015, the CHP paid $249.6 million
in benefits.
The CHP has total assets of approximately $148.1 million.

Pension Plan for Pastors and Teachers
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Prior to the CRP, the Pension Plan for Pastors and Teachers (PPPT)
was the only pension program for pastors and teachers of participating employers of the LCMS.

2016 Convention Workbook

When the CRP was established in 1965, new enrollments in the PPPT
ceased, but the Plan remains in place to support those enrolled prior to
1965.
As of December 31, 2015, there were over 2,700 individuals receiving
benefits as retired members, disabled members, or surviving dependents of deceased members.
The PPPT paid out $8.1 million in benefits in the year ending
December 31, 2015, and has a net asset value of approximately $42
million.

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The support and participation of LCMS employers, workers, and
retirees
Members of the CPS Board of Directors whose terms ended since
2013:
º Rev. John Kaiser served one three-year term, 2013–2016
º Ms. Kristi Matus served one three-year term, 2013–2016
º Mr. George Nolde served three three-year terms, 2007–2016
º Mr. Ron Wolf served three three-year terms, 2005–2014
God’s continued blessing on the work of CPS as we strive to serve the
needs of LCMS ministries and workers

CPS is blessed to be given the opportunity to support the ministries
and workers of the LCMS by offering worker-related benefit and service solutions that allow them to focus on their ministries. Each and
every day, we take the charge of walking together to heart, committed
to serving those in His service with integrity, compassion, excellence,
stewardship, and accountability. CPS is part of the Church—caring
for its workers—dedicated to its mission through all that we do. We
proudly serve those who serve to the glory of God.
James F. (Jim) Sanft, President & CEO
R14

Concordia Publishing House
“The Church has not been built upon the authority of a man.
Rather, it has been built upon the ministry of the confession Peter
made, in which he proclaims that Jesus is the Christ, the Son of God.
... ‹Therefore, [Christ] addresses [Peter] as a minister of this office
in which this confession and doctrine is to be in operation and says:
‘Upon this Rock,’ i.e., this preaching and this preaching office›”
(The Power and Primacy of the Pope, Concordia: The Lutheran
Confessions, p. 298).
Christ’s mission is our passion at Concordia Publishing House.
We exist to provide resources that are faithful to the Scriptures and the
Lutheran Confessions. The Missouri Synod can be proud of the service that its publishing house provides throughout the world, crossing
all boundaries and barriers of race, culture, or church organizations.
We are available 24/7/365, responding and providing resources
around the globe. We are grateful for the many opportunities God
gave us during the last triennium to do so. We would like to share
some highlights from the past three years.
A significant milestone was reached in the completion of the
largest and most in-depth Lutheran Bible study program available:
LifeLight. We now have a study for every single book of the Bible in
this program and, in addition, a variety of topical studies. LifeLight
studies provide an active, nine-week exploration of entire Bible books
and topical themes of Scripture. Participants uncover Bible truths,
from the little details to the big-picture teachings. LifeLight follows
a simple three-step format for personal, group, and lecture-based
study that complements all kinds of learning styles. We are proud
of the partnership with the Lutheran Women’s Missionary League,
from which the LifeLight Bible study project originated, and deeply
thankful for the faithful field testers who worked so hard for so many