LCMS Convention Proceedings St. Louis, Missouri — 1995, Page 166

Transcription machine transcription, uncorrected

⤓ Download .txt · copy text

166

che synodical Board of Directors was advised that in
1991 the LCEF Board resolved to utilize the conflict of in-
terest policy adopted by the synodical Board of Directors
(see:response to recommendation 1 and exhibit 1 attached).
Unlike some other boards, LCEF Board members them-
selves sign a statement acknowledging they understand
and endorse this conflict of interest policy. The synodical
Board initially created the LCEF corporate entity and notes
that-LCEF is a board of the Synod:in the same manner as
the synodical Board of Directors and over the years has
been very cooperative in the development and implementa-
tion of common policy and in enhancing the ministry of the
Synod at all levels. The Board is pleased the Task Force
concluded that “it appears to the task force that the finan-
cial condition of LCEF is sound and that adequate finan-
cial and investment controls exist.” The Board, however,
encourages the LCEF to broadly share how it has kept costs
down through the use of outside consultants and brokers.

Task Force Recommendation 21

That a cost/benefit analysis be conducted to determine
the benefit of further outsourcing of Worker Benefit Plans
operations (WORKER BENEFIT PLANS, p. 13)

“The Board appoints the Board.of Managers of the
Worker Benefit Plans and is pleased “the Task Force favor-
' ably acknowledges the financial reporting and overall man-
agement of the Worker Benefit Plans” and concluded “De-
termined efforts are being made to address cost
containment while maintaining a level of service which is
generally superior to insurance plans outside the church.”
The Board concurs with outsourcing Worker Benefit Plan
operations where practical. In 1991 the Board of Managers,
with the approval of the synodical Board of Directors,
began outsourcing certain operations of the Concordia
Health Plan. Effective Jan. 1, 1992, all prescription claims
were outsourced to Caremark and all mental-health or sub-
stance-abuse treatment was outsourced to Preferred Health
Care. In March 1993 the Board approved outsourcing all
other medical treatment to the Prudential Plus/PruCare
Plus Networks for managed care in those areas where the
Prudential network is available. This network, effective
July 1, 1993, in St. Louis and Jan. 1, 1994, in other areas,
covers about half of the active workers covered in the Con-
cordia Health Plan. The Board of Managers is continuing
to explore outsourcing options in those areas where Pru-
dential does not operate. The Board believes there would
not be an economic or service benefit from outsourcing the
Concordia Retirement Plan, the Concordia Disability Plan,
and the Pension Plan for Pastors and Teachers.

‘Task Force Recommendation 22

That the Board of Directors of Concordia Retirement
Plan investigate the potential for reduced premiums in light
of overfunding (WORKER BENEFIT PLANS, p. 13)

The Board concurs with the reduction in premiums as
of Jan. 1, 1994, in light of overfunding. Earlier this year,
the Board of Managers, after several years of study, ad-
vised the synodical Board of Directors of its intent to both
lower premiums and increase benefits under the Concordia

Retirement Plan. The executive director of the Worker Ben-

LATE REPORTS AND OVERTURES

efit Plans advised the Task Force of the intent to take this
action.

Board of Directors

The Lutheran Church—Missouri Synod

To Continue the Synodical
Commission on Worship |
WHEREAS, The 1992 Pittsburgh Convention of the Synod
(Res. 2-02) resolved that the Commission on Worship be re-
tained as a self-standing commission and urged the Board
of Directors to provide funding for full-time staff; and
WHEREAS, Pittsburgh 4-02A placed the Commission on
Worship in the Congregational Services Conference, i ignor-
ing the mandate of 2-02; and
WHEREAS, Worship is not a program of the Synod, but
the very core of the Christian faith since the Confessions of
our church identify true worship as faith; and
WHEREAS, The Commission on Worship is not a program.
commission but is concerned with the life and teaching of
our church (Bylaw 3.928); therefore be it
Resolved, That the Commission on Worship be attached
directly to the Office of the President of Synod in his capac-
ity as supervisor of doctrine; and be it further
Resolved, That the 1995 convention of the Synod man-
date immediate full staffing for the Commission on Wor-
ship.
English District
Board of Directors

Mid-South District.

L5-32

To Require Concordia Retirement Plan to
Provide Annual Cost-of-Living Increases

WHEREAS, The purpose and intention of the Concordia
Retirement Plan (CRP) is to provide a retirement of secu-
rity and dignity for the Synod’s workers at a level at least
commensurate with their concluding full-service years; and

WHEREAS, Prudent financial retirement planning advises
provision to age 85 years; and

WHEREAS, The life expectancy of the Plan’s participants
is likely 20-25 years beyond retirement; and

WHEREAS, Even a modest annual inflation rate over a
20-25 year span of retirement will gravely erode the pur-
chasing power of the retiree; and

WHEREAS, The Concordia Retirement Plan is profoundly
funded with superior performing assets; therefore be it

Resolved, That the English District memorializes the
Synod at its next convention in 1995 to require the Concor-
dia Retirement Plan to provide an annual cost-of-living in-

crease that will at least equal the national rate of inflation. -

N

English District’

Board of Directors.