The Bismarck tribune., 1931-09-16
(Official City, State and County
Newspaper)
Foreign Representatives
: SMALL, SPENCER, LEVINGS
& BREWER
Uncorporated)
CHICAGO NEW YORK BOSTON
The Rainy Day

The Rainy Day
In these times when everyone takes
thought for the future as we'll as
for the immediate present, the re-
port of Bishop William Lawrence,
who has charge of the clergymen's
pension fund Of the Protestant Epis-
copal Church excites comment
It shows that more than $500, 900
has been paid out to beneficiaries
OF the fund since it was organized in
1917 and that, as a result of the
funds steady growth. the minimum
age allotment has been increased
from $500 to $1,000 a year. The
present assets of the fund arc $685.
100000 and payments are on the
basis Of 100000 a year.
The pension idea was adopted by
the church in 1916 and a fund Of S.
100000 was sought to start with. The
amount actually raised, however, ap-
preached 100000 and the proposal
got away to flying start. Since
then 1t has been maintained and in
creased by each parish and ecclesi-
astical organization contributing rs
per cent of its pastors salary.
Reviewing the IA years Of th= fund s
history, Bishop Lawrence says in
part:
"The gift of $8,500,000 was a
great event, token of the sup
port Of the Church. A far great
er token, however, Is that during
the fourteen years over ninety
nine and a half per cent Of all
the pension assessments which
could have been received from
the parishes and official organi-
cations, have been received.
Looking back through these
fourteen years and supported by
two fresh and complete re-stud-
les Of vital statistics and actuar-
ial calculations, the fund has
included the entire class of cler-
gy which was at first excluded
and every widow that can be dis
covered. TO accomplish this the
fund has paid out $2,312,000 to
these clergymen and widows and
set up In reserve, to carry them
through to the end of their lives,
$1,267 900.
1T has by the use Of the in
come of one million dollars been
able to send as an immediate
gift check for $1,000 to the
widow Of every clergymen dying
in active service. Who knows
the relief to her given by this
check coming usually before the
funeral, and followed by letter
stating the amount Of pension
that she and her several young
children will receive each month?
by use Of surplus income from
various sources, the fund has
been able to set up reserves ac-
cording to the date Of each cler-
gymen's ordination and advance
all Of the pensions so that by
July Of this year the promised
age pension Of 5000 has been
raised to an average Of 1898; and
for the widows, exclusive of
grants for minor children, to
1887. There are now 1914 active
clergy and the number OF PEN
Sioners, aged, disabled, and Wild
ows. IS 1888. The Pension Fund
has paid out, in these fourteen
years. seven and one half mil
lion dollars. On March 9th the
financial conditions were such
as to justify the trustees in pro-
missing that for the next few years
at least the minimum amount Of
the age retirement pension be
81 900. Meanwhile the average
salary Of the clergy has increased
from 81 ZOO to $780,"
This Is something Of a revelation
to most Of US and shows what car
be done by some institutions to pro.
tect their workers against the rain,
day."
There are factors which apply Il
clergymen more than to men in 9th.
er lines Of work and most Of then
contribute to the success Of the pen
sion plan on q comparative basis.
Churchmen aren't supposed to b.
very astute financially, but If wa,
could be found to adopt somethin,
Of the same nature to the genera
populace. the demand for old-ag'
pensions to be paid by the states O
federal governm ent would di
a-borning.