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LCMS Convention Workbook St. Louis, Missouri — 1973, Page 382

Scan: The Lutheran Church—Missouri Synod

Transcription machine transcription, uncorrected

382 STEWARDSHIP AND FINANCE
All office snace is rented from The Lutheran Church — Missouri whom contributions have been waived due to disability or death is
Synod. The Pians follow the practice of expensing items of furni- recorded as “Reserve for noncontributory benefits.” The amount
ture and office equipment as they are purchased. of the reserve and the provision for each year is determined by the
Investments are carried at amortized cost. Bond premium and Plan's actuary.
discount is amortized on a straight-line basis over the period from
date of purchase to date of maturity. . , Note D — Contributions
The Plans became effective for Canadian workers in 1972. Contribution rates are established by the Board of Managers
Amounts relating to Canadian operations have not been translated upon the advice of the Plans’ actuary. No changes have been made
to U.S. dollars as the effect of such translation would not have been to the over-all contribution rates in either year; however, on the
material. recommendation of the Plans’ actuary, the contributions to the Re-

tirement Plan and Survivor Plan, which had previously been divided

Note B— Amounts Due from and Due to Insurance Company equally, were allocated 64°; to the Retirement Plan and 36° to the

These amounts represent the insurance companies’ estimates, Survivor Plan in 1972.
based on latest information available, of the difference between
premiums paid by the Plans and the sum of claims paid, claims Note E — Actuarial Valuations
Provided for, and the insurance company’s retention. Actuarial valuations of the Retirement Plan and the Survivor
; , + . Plan performed by consulting actuaries as of Dec. 31, 1972, indi-
Note C — Reserve for Noncontributory Benefits cated that the liabilities of both plans are being soundly financed
An estimated liability for benefits to members or dependents for and that adequate provision has been made for all future benefits.

Exhibit B
CONCORDIA WELFARE PLAN — CONCORDIA RETIREMENT PLAN — CONCORDIA SURVIVOR PLAN
December 31, 1972
Summary of Benefit Payments
CONCORDIA WELFARE PLAN

Type of Benefit 1972 1971 1965 to date
Medical Expense — Health Care $5,183,147 $3,898,300 $18,607,347
Disability Income — Salary Continuation 386,741 243,300 1,496,341
Death Benefits
Worker $253,780 $240,700 $1,381,180
Dependent eee 57,275 311,055 48,400 289,100 287,275 1,668,455
Total Welfare Plan Benefits $5,880,943 $4,430,700 $21,772,143

CONCORDIA RETIREMENT PLAN

1972 1971 1965 to date

Retirement ee $ 350,754 $ 271,300 $ 1,410,554
Disability 80,119 65,500 291,219
Total Retirement Plan Benefits___——__ $ 430,873 $336,800 $_ 1,701,773

CONCORDIA SURVIVOR PLAN

Benefits to Dependents 1972 1971 1965 to date
Death before retirement $ 665,281 $ 550,100 $ 2,604,818
Death during disability 39,037 29,800 .
Death after retirement ee 9,189 8,200 40,189
Lump sum death benefits ee 786 1,100 9,186

Total Survivor Plan Benefits $714,293 $ 589.200 $ 2,654,193

“Included in “death before retirement” total

Exhibit C Exhibit D
ANALYSIS OF EMPLOYER ENROLLMENT ANALYSIS OF WORKER ENROLLMENT
United States United States
December 31, 1972 December 31, 1972
Enrolled Ret. and Welfare All CWP CRP/CSP
Total All Plans Surv. only only Plans Only Only
Congregations 4,639 4,426 65 148 Congregations 9,725 201 972
Controlled Organizations Controlled Organizations
Synod — 1 — — Synod — 298 3 363
Districts 33 33 —_— — Districts — 539 5 78
Colleges — 15 15 —_ _ Colleges 1,173 5 99
Concordia Publ. House 1 _— 1 _ Concordia Publ. House 2 _ 665
KFUO _W 1 1 —_ — FUO 13 1 3
Concordia Hist. Institute —__ 1 1 —_ — Concordia Hist. Institute 5 — 1
Total Cont. Organizations 52 51 “y _ Total Cont. Organizations 2,030 14 1,209
Affiliated Agencies Affiliated Agencies
Consolidated Schools 58 54 3 1 LLL 82 — 3
High Schools - 19 17 2 _ Consolidated Schools 448 9 87
Mission Societies 18 16 2 _ High Schools 704 2 114
Welfare Agencies 11 6 1 4 LCUSA 25 — 5
Other ag 11 _ 5 Mission Societies 34 1 12
-—, —~ Welfare Agencies 7 79 22
Total Affil. Agencies 122 104 8 10 Other 2 82 94 34
Total Employers Enrolled 4,813 4,581 74 158
Total Affil. Agencies 1,462 185 277
Retired Members — 1,494 —
Dependents of Deceased Members _ — 332 —_—
Total Enrolled 13,217 2,226 2,458