Collection › LCMS Convention Workbook (St. Louis, Missouri) › 1975 · 51st Convention › Page 178

LCMS Convention Workbook St. Louis, Missouri — 1975, Page 178

Scan: The Lutheran Church—Missouri Synod

Transcription machine transcription, uncorrected

178 ADMINISTRATION
Exhibit C Exhibit G
EMPLOYER ENROLLMENT ANNUITY SUBSIDY SUPPORT
United States eg — .—_.. -___— $3,619,072 $1.471.603 $111,257
. (ne 2.733.779 1.531.872 154.44
December 31. 1974 1972) _ _ _— 2.470.319 1.591.041 oa5 117
Enrolled Ret. and Welfare 197Q 340.177 1.728.918 263.798
Total All Plans Surv. Only 9 Only 1966 a a 736.001 1,965.293 303,472
Congregations ____ _ . 5.362 5.194 47 121
Controlled Organizations Exhibit H
Diets 2H RETIREMENTS — 1974
Colleges 16 16 = - 137 normal retirees in fiseal 1974: average annuity $160.00 per month.
Concordia Publ. House 1 1 - - 103 of these also receive a CRP retirement benefit: average $105.74 per
KFUO 1 1 = — month.
Concordia Hist. Institute __... _ 1 1 = - 13 of these receive an earned benefit ~ subsidy: average subsidy $33.27
ae _ ee er month.
Total Cont. Organizations 99 Di) - - 23 retired early: average age 63 —64; average annuity $123.81 per month
Affiliated Agencies ~ average CRP $78.22 per month.
Consolidated Schools _ 70 66 9 2 39 retired by definition (age 70 still activel: average annuity $249.03
High Schools. t—s—S—~=«~S*dY 94 _ - _ per month (none of these are in CRP).
Mission Societies — 19 17 2 7 7 disability retirees under age 65: average annuity $86.69 per month
Welfare Agencies _ 12 7 1 4 ___ > average CRP $279.45 per month.
Other vn ee ee 18 13 - 5 206 classified as having retired in 1974.
Total Affil. Agencies 140 124 5 ll
Total Employers Enrolled — . 5.557 5.373 52 132 Exhibit I
_ DEATHS - 1974
Exhibit D 84 Retired Workers: average years in retirement 9—7: average annuity
WORKER ENROLLMENT $115.84: average total benefit received in retirement $16,190 tin-
cluding subsidy).
United States 19 Active Workers: 1 left no widow: 12 widows receive an average
annuity of $116.35 per month (12 also receive a CSP benefit).
December 31. 1974 6 widows deferred receiving an annuity.
All CWP CRP CSP
Plans Only Only
Congregations —____._. aoe oe 2. 10,501 89 956 Exhibit J
ee Organizations sos vas REPORT OF PENSION WORK COMMITTEE
yno =
Districts _ oe. 612 ] 71 As directed by Resolution 12-10 of the Denver convention,
Colleges —- 8. 0 107 _ 67 the ad hoc Pension Work Committee, comprised of two repre-
Concordia Publ. House. ..--- —--_-.-. 515 58 7 sentatives each of the Board of Trustees and the Board of
KFUO ___ - -— - 13 - 3 Managers — Worker Benefit Plans, has continued to give con-
Concordia Hist. Institute ——.._____ ___ 4 —- ee sideration to the improvement of the benefits of the Pension
Total Cont. Organizations 2.660 59 297 Plan for Pastors and Teachers, which was the objective of the
Affiliated Agencies directives given to the ad hoc committee by the convention in
. ‘ 1969. The committee, currently consisting of Ralph E. Petering,
LLL = — 84 — 3 chairman: Arthur Wellman, representing the Board of Trustees:
High Sckosts Schools — —.- 230 nN °° and Edward Kasch and Fred Heisler, representing the Board
LCUSA TO 7 99 _ 5 of Managers— Worker Benefit Plans, has held several meetings
Mission Societies oo 40 _ 13 during the last biennium, has initiated improvements in benefits,
Welfare Agencies - 114 106 27 carried on new studies on matters of continuing interest and
Other 94 191 51 concern, and has consulted with the staff, legal counsel, and
Total Affil. Agencies _ 1.694 309 261 the actuary for the Pension Plan for Pastors and Teachers.
Retired Members ~~ 2.038 ~~ The committee reports the following results of its activity
Dependents of Deceased Members ____ _ 416 _ and the progress of various matters currently under considera-
Total Enrolled 14.855 2.931 1514 tion:
1. Minimum Pension Increased to $200 per Month on Feb.
Exhibit E 1, 1974. The minimum pension for retired workers was increased
from $175 per month to $200 per month and the minimum benefit
ENROLLMENT—CANADA for a surviving widow was increased from $105 per month to
December 31. 1974 $120 per month effective Feb. 1, 1974. The actuarial studies
. prepared for the committee by the consulting actuary and an
Concordia Retirement and Survivor Plan Only analysis of the projected investment performance indicated
Employer that the increase could be underwritten by increasing the
Congregations 183 156 interest assumption in the annuity purchase from 5% to 5'a%
Districts ~ 5 24 and by transferring the balance accumulated in the Contingent
Colleges -. 1 25 Reserve Account on Jan. 31, 1974, to the Pension Annuities
LCIC ae _— _ 1 2 Account. Thus no increase in the synodical subsidy provided
Other Lee 6 6 through the budget was necessary to provide this increase in
Total _— __.. 196 213 benefits.
2. Allocation of Investment Appreciation Increased to 60%.
Exhibit F The percentage of investment appreciation that can be allo-
cated to accounts of active workers and the Annuity Fund was
MINIMUM RETIREMENT PENSION increased from 50% to 60% effective Feb. 1, 1974. Although the
1974 $200 1947 $60 performance of the stock market was such that prior allocations
1971 TT TTT Ys 1944 50 of appreciation had to be withdrawn on Dec. 31, 1974, the change
1969... 165 1941 _ ~~ 40 in the percentage allocable does provide a more realistic and
1965 oo 150 1938 30 equitable treatment of investment results accomplished through
1953 100 equity-type investments.