LCMS Convention Workbook St. Louis, Missouri — 1998, Page 77

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SYNODICAL REPORTS 77

District Presidents should be informed to whom such letters
are sent.

If the current budget of WBP is insufficient to permit the
above-referenced informational survey, then monies should ei-
ther be earmarked for such an effort in the next budget of
WBP and/or monies can be provided through the offering or
gift collections as mentioned in paragraph 5 below.

3. That the District Presidents affirmatively inquire into (1) how
many retired workers or widowed spouses under either the
CRP or the PPPT exist within their Districts and (2) the
specific financial needs of such retired workers or widowed
spouses. Such information, where permissible, should be
shared, in confidence, with the WBP.

4. That WBP, after reviewing all necessary facts, establish a
likely benefit and payment stream that would provide
adequate funding to retired church workers or their widowed
spouses currently under the PPPT programs.

5. That the Board of Directors establish within the Synod‘a
designated Sunday on which day a special offering would be
collected to alleviate the unmet financial needs of those
retired workers or their widowed spouses. In addition, special
gifts can be solicited through the LCMSF. That such monies
collected be set aside in a special fund administered by the
LCMSF in cooperation with the WBP.

6. That the Synod authorize the Board of Directors (or if funds
are available, the Board of Directors authorize their
expenditure) to provide in the annual budget the funds
necessary, supplemental to those collected under item (5),
above to finance the benefit and payment stream as deter-
mined in item 4 above.

In conclusion, of the two issues identified in the mandate to the
Task Force, the inadequate funding of retirement benefits for indi-
viduals under the Synod’s old PPPT program is a more readily
identifiable problem and should be capable of a systematic, man-
ageable resolution (over the period of the next 20 years), Never-
theless, our Synod’s retired church workers or their widowed
spouses who have current, unmet financial needs should have these
needs met by our church body.

On the other hand, the issue associated with the increasing level
of debt of our Synod’s professional church workers is a problem
that is growing rapidly, needs to be immediately identified as to
both the number of impacted students and church workers and the
individual scope of the problem of each student or worker, and then
addressed with both preventive and remedial solutions. It is a prob-
lem that, even though it will nor take care of itself, can be resolved.

It is the recommendation of the Financial Aid Task Force that
this report be submitted to the Synod’s 1998 convention for adop-
tion in its entirety. In order to assist both the President and the
Synod in convention, a summary of this report is attached identify-
ing by issue the responsible entity within the Synod to be tasked
with particular undertakings. Where the initiation of some or all of
the suggested courses of action will incur costs currently outside
of the budget of the responsible entity of our Synod it should be
noted that what is proposed is that funds will be raised either
through special synodical offerings or designated and earmarked
gifts.

Finally, it is imperative that when steps are implemented,
through the respective entities of the Synod, the President direct
that reports be given to himself, or the Board of Directors, at spec-
ified intervals, in order to insure that corrective actions are in fact
implemented and the issues identified are being resolved; or, if not,
that additional steps be undertaken or matters implemented to as-
sure the necessary resolution of these identified problems.

We know that “all things” do work together for “the good of
those who trust in the Lord” (Rom. 8:28) and accordingly are as-
sured that through the guidance of His wisdom resolution of these
identified challenges will be forthcoming. °

Edwin Suelflow, Chairman

Appendix R4-06A

Summary

Indebtedness of the Professional Church Worker
Which Indebtedness Is Mainly Attributed to the
Burden Associated with the Cost of Education

First Issue:

Resolution: Both Assist in the Reduction in the Level of Such
Indebtedness and Establish Programs to Provide
Guidance for the Christian Management of Debt

Agency: Lutheran Church—Missouri Synod Foundation

Responsible Action:

* establish and manage a special fund(s) to which contribu-
tions may be made and from which portions of the principal
and/or interest earned is used to underwrite both the devel-
opment and implementation of the numerous programs es-
tablished pursuant to this report

Agency: Lutheran Church Extension Fund

Responsible Action:

* implement a low-interest loan program, to Districts and con-
gregations, both for consolidation of high-interest debt and
the underwriting of educational costs at synodical schools

* implement a program that will permit the earmarking of in-
terest income from LCEF investments into the “special”
fund(s) established within the LCMS Foundation, as outlined
above

Agency: Stewardship Department

Responsible Action:

* continue and expand its current pilot program of personal fi-
nancial management workshops

* seek from both within and without the Synod the requisite ex-

pertise in the area of managing financial resources

share with the Synod’s colleges, universities, and seminaries

the expertise it is developing in the area of personal financial

management workshops

Agency: Concordia University System/Board for Higher
Education and Synodical Seminaries
Responsible Action:

* identify and assist students who have financial problems at
the individual institution

* provide financial planning workshops for students at the time
of entry into the educational system

¢ make available continuing financial planning resources to
students during their stay at the educational institution

Agency: District Presidents

Responsible Action:

* identify those professional church workers under their eccle-

siastical supervision who have unresolved debt problems

implement programs within their Districts that will provide

guidance to professional church workers in the area of per-

sonal financial management

* establish specific compensation guidelines for congregations

within their Districts

counsel congregations to follow the established compensa-

tion guidelines

* consider not approving applications for candidates from par-
ticular congregations where the compensation guidelines at
that congregation do not meet the District salary guidelines

* identify individuals applying for admittance to our Synod’s
seminaries where the individuals’ ability to finance their sem-
inary education may be in doubt in order to provide counsel-
ing and so inform the respective seminary

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