LCMS Convention Proceedings St. Louis, Missouri — 1981, Page 166

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166 RESOLUTIONS

recommendations of the Discussion Group-Benefit
Preferences (representative group of workers); therefore
be it

Resolved, That the Synod commend the Board of
Directors and the Board of Managers for their careful
review and monitoring of the plans, and for the changes
which will be made Jan. 1, 1982 and communicated to
the participants; and be it further

Resolved, That every effort be continued to make the
Worker Benefit Plans the finest available, considering
the needs of the workers, the cost impact upon employers
and workers, and the responsibility for sound fiscal
management on the part of the Board of Managers.

Action: Adopted (4).

To Explore Increases
in Benefits Under Pension Plan
for Pastors and Teachers

RESOLUTION 4-05

Overtures 4-16A—B, 4-18—4-20B, 4-22A—4-23C
(CW, pp. 210—213)

WHEREAS, Many presently retired pastors and
teachers did not qualify to enter the Concordia Retire-
ment Plan because of age; and

WHEREAS, Many of those workers, who served their
Lord faithfully in years of low salaries are experiencing
economic hardships; and

WHEREAS, The resources and benefits of the Pension
Plan for Pastors and Teachers are limited because low
salaries produced low contributions to the plan; and

WHEREAS, Minimum pension benefits for all workers
and surviving dependents under the Pension Plan will
be increased on July 1, 1981, demonstrating a concern in
providing for these workers and dependents; and

WHEREAS, Adequate funding must be provided or
assured before additional increases in benefits can be
granted, so that the stability of the program is protected;
and

WHEREAS, Although adjustments made prior to those
approved this year have been funded by the Pension
Plan for Pastors and Teachers, further increases can be
funded by the plan itself only if additional resources are
developed through actuarial gains, which seems un-
likely; and

WHEREAS, The current increase, approved this year,
will be funded out of the general budget of the Synod,
after using contingency funds from the Pension Plan
for Pastors and Teachers; and

WHEREAS, The problem of low pension benefits still
exists in many cases, and needs to be further addressed;
therefore be it

Resolved, That the needs of retired workers and
dependents of deceased retired workers under the
Pension Plan for Pastors and Teachers be continually
reviewed, with ad hoc adjustments being made to assist

in meeting these needs as fully as possible; and be it
further

Resolved, That the Board of Managers be instructed
to study and explore new ways of providing additional
funding in order to provide increased benefits to par-
ticipants in the Pension Plan for Pastors and Teachers,
and make appropriate recommendations to the Synod’s
Board of Directors for implementation.

Action: Adopted (4).

(Two amendments were declined: asking that benefits be
increased 10% July 31,1981, and that $1 million of the Forward .
in Remembrance excess not otherwise designated be used for
additional funding of the Pension Plan.)

To Revise Period of Years
for Determining Retirement Benefits

RESOLUTION 4-06
Overtures 4-26A—D (CW, p. 213)

WHEREAS, Present retirement benefits are based on
the highest five (5) consecutive years of compensation
within the last fifteen (15) years of creditable service in
the ministry; and

WHEREAS, Expanding the period of years for de-
termining retirement benefits to twenty (20) years will
make available a wider variety of ministry options
without likely loss of retirement benefits; therefore be it

Resolved, That the Board of Directors amend the
Concordia Retirement Plan by changing the period of
years from fifteen (15) years to twenty (20) years for
determining a worker’s final average compensation.

Action: Adopted (4).

To Decline Overture 4-21 (To Change
Retirement Plan Regulations
re Workers Not Covered
by Social Security)

RESOLUTION 4-07A
Overture 4-21 (CW, p. 212)

WHEREAS, The Board of Directors, upon recom:
mendation of the Board of Managers, has amended the -
Concordia Survivor Plan, effective Jan. 1, 1982, to
provide benefits without reduction for Social Security
benefits to those workers not participating in the Social
Security program; and

WHEREAS, Benefits without reduction for Social
Security benefits exist in the Concordia Retirement
Plan; and

WHEREAS, A survey conducted by the Worker Benefit .
Plans reported that 89% of the Ministers of Religion
(pastors and male teachers) are participating in Social
Security and paying the cost of the program on a self-
employed basis and only 11% are not participating in
Social Security (reference Workbook p. 200—Report 4-
07); and