nineteen hundred and forty-six - Amazon Web Services

RELIEF AND ANNUITY BOARD 451
inauguration as of July 1, 1946. This plan is also adapted to the needs of
eligible male employees of all the agencies and institutions of the Conventions
cooperating with the Relief and Annuity Board in any one of its group plans.
The plan is herewith presented with the hope that it will be very faithfully considered
by the members of the Ministers Retirement Plan and other group plans
operated by the Board.
7. Prior to January 1, the Foreign Mission Board voted to increase the
pensions of retired missionaries from $500 to $900 per annum. It is the desire
of the Foreign Board to channel all retirement benefits through the Relief
and Annuity Board, hence it is our expectation at an early date to increase the
monthly checks from this Board to retired missionaries from $41.66 to $75.
The Foreign Mission Board and the Relief and Annuity Board have been conferring
relative to arrangements for funding the liabilities for the missionaries
not already in retirement, and it is possible they will also make some funding
arrangement for the present roll of retired missionaries. The Relief and
Annuity Board voted at its last session to give the authority to its officials to
enter into a revised agreement with the Foreign Mission Board relative to
these matters.
8. During the first quarter of 1946, the total receipts of the Board have
been $667,975.71, and the total expenditures $300,129.42, this covering the
benefits paid through the several annuity plans and the relief department and
also the expenditures for administration and promotion. The approximate
amount added to the reserves of the Board at the end of the first quarter was
$367,846.29. This amount added to the reserves reported by the treasurer as
of December 31, 1945, of $9,449,256.09, have thus been increased to $9,817,
102.38. It is quite apparent that the reserves of the Board will pass the
$10,000,000 mark before the convention assembles in Miami, Florida, May 14,
1946. We are able to report 398 new members enrolled in the Ministers Retirement
Plan and the several other active annuity plans of the Board since
January 1. This is to March 31. This number will doubtless reach 600 or more
by the time the convention assembles. The total number of certificates issued
in all plans as of March 31, 1946, is 16,545. The aggregate of benefits paid
during the first quarter of 1946, both relief and annuity, is $244,646.79.
On the basis of a multiple of this sum by four, it will be seen that the
benefits will be probably increased during 1946 to $978,587.16, and we may pass
the one million mark by December 31, 1946. The receipts through the Cooperative
Program and designations for the first quarter of 1946 amounted to
$177,809.39. Distributable funds of the Cooperative Program appear to have
been on the basis of approximately $5,000,000 during the first quarter. Of the
$177,809.39 received from the Executive Committee to March 31, approximately
$3,000 was designated money.
9. In the concluding pages of the entire report of the Board there will be
found under Exhibit A a very illuminating table headed "Contributory Retirement
Annuity Plans." It is hoped that this table will be made a matter of
thoughtful study.
Under Exhibit B is given another table entitled "Combined Dues and Contributions."
This includes contributions applicable to all the annuity plans of
the Board including the (Old) Annuity Fund which is not now active in the
sense of its receiving new members.
Under Exhibit C is given the table showing the increase in membership
and in the number of participating churches and organizations in the several
annuity plans of the Board. From this table it will be seen that the number of
members added since January 1, 1945, was 1822 and the number of churches
and cooperative boards added was 647. The total number of active members
now participating in the several plans will be seen from Exhibit A as above
referred to.
Under Exhibit D we are presenting the entire list of contracting general
boards, institutions, and agencies whose employees participate in one of the
several retirement plans of the Relief and Annuity Board.
Under Exhibit E is given statistical tables of value to students of our work.
Exhibit F gives the full text of the "Widows Supplemental Annuity Plan of
the Southern Baptist Convention.