To Audit Concordia Plan Services Retirement Funding

WHEREAS, The number of professional church workers in The Lutheran—Church Missouri Synod has been declining, therefore resulting in a smaller pool of resources which are a part of the Concordia Plan Services (CPS) Retirement Plans; and

WHEREAS, Increased life expectancy and growing number of retired workers increases the payout of monies to retirees; and

WHEREAS, Financial challenges in the economy have impacted investment earnings; and

WHEREAS, Critical shortages could threaten the financial stability of the independent CPS Retirement Plan; and

WHEREAS, Transparency is critical for trust and compliance;

therefore be it

Resolved, That the Atlantic District move the 2023 Synod convention to create an audit committee to review the retirement plans, including projections for funding and capacity of the funds for the next 25 years, safeguards to protect funds and its solvency for the next 25 years, and any recommendations for changes to the structure for best practices; and be it further

Resolved, That the reports of the audit committee be shared with the Council of Presidents and then electronically shared to all workers in CPS Retirement Plans by December 31, 2023.