LCMS Convention Workbook St. Louis, Missouri — 2001, Page 14

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14 SYNODICAL REPORTS

To coordinate the national program mentioned above, Worker
Benefit Plans hired Eustolio Gomez in January 2000. The Plans
accepted the financial risk of providing this service with help
from the LCMS Foundation and LCEF. With the development of
the national program, using a revolving three-year approach, all
the Districts of the Synod will be asked to participate in a
program intended to provide the basics of financial education and
establish a network of financial advisors, along with a trained
corp of volunteer advocates, throughout the Synod. An advisory
council of representatives from the entities named at the
beginning of this report provides assistance and resources as
needed to the coordinator.

In addition, the following objectives have been identified for
the overall national program:

* A ten-year plan, creating three triennial periods, with each trien-
nium having its own emphasis. The first emphasis will be Per-
sonal Budget Planning. The second will be Personal Financial

Awareness. The third will be Personal Retirement Planning. Each >

triennium will build on the previous triennium in that all three
will always stress the fundamentals of planning finances.

Presenting the program in each District in a variety of ways. Dur-
ing each year of the triennium, one-third of the Districts will re-
ceive a personal presentation. One-third of the Districts will re-
ceive a multi-media presentation through the use of various types
of media such as CUENet, videos, etc. The final third of the Dis-
tricts will receive printed material written specifically for this au-
dience. This will be on a revolving basis, where, over the course
of the triennium, each District will experience each of the vari-
ous forms of media of this presentation.

Tools for use of the implementation of this program. “The Key
to the Planner” booklet has been written and is ready for use. It is
available in printed format as well as on the Internet. Another tool
being developed is a worksheet for the cascade method of debt
reduction.

¢ Communication initiatives, such as a dedicated newsletter that
heightens understanding of scriptural wisdom in financial man-
agement.

Web-based and video conferencing interactive resources, courses,
and bibliographies.

National continuing educational programs with consistent, bibli-
cal stewardship-sensitive curriculums tailored for target audi-
ences ranging from the various stages of life planning for adult
members to age-appropriate curriculums to be implemented
throughout our school systems and within our congregations.

A “training the trainers” certification to ensure quality in educa-
tional financial planning programs. This includes stewardship ex-
ecutives and business managers in Districts.

Recruitment of persons who will help to ensure the effectiveness
of the program. One group is comprised of volunteers who will be
asked to serve as a resource to our workers, encouraging them to
participate, and to make follow-up telephone calls to those per-
sons who attend the presentations. Another group is made up of
the financial planners who will provide professional, experienced,
no-pressure, no-product, and no-fee planning assistance to those
who want to take advantage of the opportunity.

Continuing educational programs for certification with consistent,
biblical stewardship-sensitive curriculums tailored for the volun-
teers, financial planners, and other professionals.

A Financial Crisis Network with the expressed purpose of pro-
viding a means by which workers, District Presidents, and other
concerned entities of the church can identify and access resources
designed to assist workers who find themselves in need of imme-
diate financial counseling. Implicit in this network is the mainte-
nance-of the worker’s privacy.

* A survey/questionnaire to obtain relevant, definable statistics and
trends as well as to gauge the effectiveness of this program.

¢ Special savings initiatives for individuals and organizations
within our communities of faith that position them to reclaim bib-
lically mandated acts and programs that restore and redeem lives

2001 Convention Workbook

and improve the quality of life in our communities while promot-
ing the Gospel.

Concordia University System/Board for Higher Education
and Synodical Seminaries

* Higher Education institutions are monitoring the accumulation of
debt of students. How effective this monitoring is remains to be
seen. We continue to encourage the administrations of institutions
to work diligently to provide information and advice in this mat-
ter.

* CUS initiated a $400M endowment effort to assist in this matter.
Within the last 18 months, this effort has increased endowments
at the institutions in excess of $54M at the 10 colleges/universi-
ties. The seminaries are also working in this area; their endow-
ment funds are now near a level that will provide sufficient funds
to cover the cost of tuition for all seminary students.

* BHE/CUS office continues to work on a plan to incorporate a set
of educational experiences for all students to work through the
importance of personal financial management. This approach
should have its effect but only insofar as students consider per-
sonal financial management an important aspect of life.

* BHE/CUS office will continue to work with institutions to make
this an important aspect of students’ experiences.

The Institute for Christian Financial Management (ICFM) is a
new initiative within the CUS. Its hub is being developed at our
Concordia University Wisconsin campus. This initiative has ac-
complished the following:

* Provided leadership in the establishment of an Advisory Council
on Retirement Planning and Financial Education in the LCMS.

* Proposed a financial education program for students in the Con-
cordia University System and the seminaries, scheduled for test-
ing in the 2001-2002 academic year.

¢ Provided support for WBP and the national program with Web
page resources.

* Begun development of financial management and education cur-
riculum materials for long-term, continuing education for church
workers and lay leaders.

* Established a long-range goal to develop a Managing Money with
Wisdom curriculum for the LCMS school system—early child-
hood to post graduate.

LCMS Foundation and Stewardship Ministry

* Provided financial support for the work of the Coordinator for
Retirement Planning and Financial Education.

* Made provision for establishing and managing special funds to
which contributions can be made and from which portions of the
principal and/or interest ean be used to underwrite both the de-
velopment and implementation of programs established by vari-
ous entities named in this report.

¢ Worked in partnership with the Institute for Christian Financial
Management (Concordia University Wisconsin) to develop an in-
tensive curriculum to provide financial education to students and
current church workers.

¢ Supported the development and expansion of the work of the Co-
ordinator for Retirement Planning and Financial Education as part
of the Advisory Council for Retirement Planning and Financial
Education.

Lutheran Church Extension Fund (LCEF)

* Obtained a Letter Ruling from the U.S. Department of Labor
making professional church workers (rostered) eligible borrow-
ers from the LCEF.

¢ Established a Direct Housing Loan Program for the professional
church worker (PCW) utilizing appropriate underwriting guide-
lines.