Collection › LCMS Convention Proceedings (St. Louis, Missouri) › 1938 · 37th Convention, St. Louis › Page 314
LCMS Convention Proceedings St. Louis, Missouri — 1938, Page 314

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

Spe Petes

BAN AR a PE eR eee

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3814 Financial Matters

at St. Louis does the collecting and general accounting, and Synod’s
Board of Trustees for Synod’s Trust Funds invests the funds. Be it
Resolved, That Synod voice ‘its approval of this efficient and
economical arrangement and that it thank the Fiscal Office and the
Board of Trustees for Synod’s Trust Funds for such services.

Action of Synod: This report with its resolutions was adopted.

Committee 15 considered also various suggestions concerning
revision of the Pension Plan, as contained in Overtures 705 and
706, and reported: ;

Overture 706 suggests a minimum pension for life of $600 for
a married worker and $420 for a single person or for a widow. It
recommends that a worker becomes eligible after thirty years of
service in the Missouri Synod. It authorizes the Treasurer of
Synod, with the consent of the Lutheran Laymen’s League, to
draw from the capital of the L. L. L. Endowment Fund any amount
necessary beyond the amount now received from the interest of
the L.L.L. Fund and the Synodical Budget.

As far as the capital of the L. L. L. Endowment Fund is con-
cerned, be it

Resolved, That Synod concur in the position taken by the
Board of Directors, namely, that “the L. L. L. Endowment Fund be
kept intact and its income used in accordance with the original
intention and agreement, at least for the present.” (Page 219,
No. 3.)

The suggestion that a definite minimum pension be allowed
under certain conditions meets with our approval but not to the
extent or with the time of service limit as set forth in the overture.

However, we recommend for your adoption the following
resolution:

Resolved, That Synod instruct the Board of Support and Pen-
sions to grant to workers retiring at the age of sixty-eight years
or over after a membership of not less than one year a free sub-
sidy for life to increase the pension annuity to a minimum of
$360 a year and that of his widow to $180 a year, provided that
the worker has been active in the Missouri Synod for not less
than thirty-five years and that his widow was married to him for
at least ten years prior to his retirement. A proportionate reduc-
tion of the worker’s and the widow’s subsidy is to be made if the
worker failed to join within three months after he became eligible
for membership or if his salary-paying organization participated
not at all or only in part. If this income does not provide for the
reasonable needs, the Board of Support and Pensions shall sup-
plement the annuities after the regular application has been sub-
mitted, and according to the current rates,