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LCMS Convention Workbook St. Louis, Missouri — 2013, Page 46

Scan: The Lutheran Church—Missouri Synod
Transcription machine transcription, uncorrected

46

SYNOD REPORTS
Benefits* Provided by the Concordia Retirement Plan (CRP)
2010

2011

2012

Primary Retirement
Benefits

$142,516,245

$152,924,365

$163,271,861

Supplemental
Retirement Account

$12,929,210

$13,994,031

$14,809,591

Survivor Benefits

$15,468,256

$16,443,719

$17,444,695

Retiree Medical
Supplement

$13,137,800

$13,406,634

$13,579,756

*As a new benefit, no Retirement Cash Account benefits were distributed
through 12/31/2012.

The value of the total assets of the Concordia Retirement Plan as
of 12/31/12 was $2,824,327,687.
Concordia Retirement Savings Plan (CRSP)

Workers participating in The Church’s Plan package of benefits
through their LCMS employer can save for retirement through the
Concordia Retirement Savings Plan (CRSP), a 403(b) tax-deferred
savings plan with a matching contribution component. This provides
workers with an opportunity to establish a personal retirement savings
account to supplement their retirement income from the Concordia
Retirement Plan.
The Concordia Retirement Savings Plan allows workers to:
•
•
•

Save for retirement with pre-tax dollars
Grow assets on a tax-deferred basis
Diversify their retirement savings portfolio

In December of 2010, the CRSP fund lineup was substantially
updated and expanded to offer improved investment selections and
diversity to our members. In addition, the fee structure was updated
in order to bring even more value to our members. In some cases, the
asset-based administrative expense fees associated with the funds
were cut by more than 50%.
The popularity of this plan is seen in continued strong growth and
participation over the past three years:

Taking care of workers in a time of great need, the CDSP provides a disability income benefit (for workers) and a pre-retirement
lump-sum death benefit (for workers and their enrolled dependents).
In addition, the CDSP covers the CHP contributions for enrolled disabled workers whose disability lasts more than three months.
Benefits Provided by the Concordia Disability and Survivor Plan
(CDSP)
2010

2011

2012

Survivor Benefits

$9,591,118

$5,536,202

$7,139,605

Disability Benefits

$3,656,783

$9,788,828

$11,413,824

Health Benefits for
Survivors and
Disabled Workers

$4,906,970

$5,421,135

$5,268,016

The value of the total assets of the Concordia Disability and
Survivor Plan as of 12/31/12 was $112,607,864.
Concordia Health Plan (CHP)

The Concordia Health Plan (CHP) is designed to protect LCMS
workers and their families against the financial burden of illness and
serious injuries, as well as to provide preventive, well-child, and routine medical care as recommended, helping members be as healthy
as possible.
The CHP is a self-funded, all-inclusive healthcare program. While
the majority of workers are blessed with good health, rest assured that
the necessary funds are there to share with our co-workers and their
families in the event they incur higher medical expenses.
The Concordia Health Plan offers:
•
•
•
•

Ten health plan options, including HMO, PPO, and CDHP designs,
along with a ption specifically for seminary students
Medicare supplemental program for retirees 65 and over
Health and Wellness programs
Employee Assistance Program

Concordia Health Plan (CHP) Options Available and
Percentage of Members in Each

Concordia Retirement Savings Plan (CRSP) Accumulation
2010

2011

2012

2010

2011

2012

Option A

11%

8%

6%

Option B

36%

30%

26%

Option C

26%

27%

27%

Option D

12%

15%

17%

Employee
Contributions

$27,788,467

CRSP Basic Match

$5,060,114

$5,197,460

$5,375,809

Optional Employer
Match

$584,452

$618,150

$628,013

Option E (formerly
Options Blue HRA)

1%

1%

1%

Employee Rollover
Contributions

$2,017,532

$2,697,618

$1,951,075

Option HDHP (formerly
Options Blue HSA)

10%

14%

18%

The value of the total assets of the Concordia Retirement Savings
Plan as of 12/31/12 was $222,567,816.

Option HMO—National

0%*

0%*

0%*

Option HMO—
California

1%

1%

1%

Option HMO—
California 2

1%

2%

2%

Option CSS

2%

2%

2%

$28,961,149

$30,564,886

Concordia Disability and Survivor Plan (CDSP)

CPS is proud to offer the Concordia Disability and Survivor Plan
(CDSP) to eligible workers. All full-time workers (those who are
employed more than 20 hours per week and more than 5 consecutive
months) must be offered the opportunity to enroll themselves and any
eligible dependents in the CDSP.

2013 Convention Workbook

*Less than 1%