Report of the
Beneficiary Society
“I will sing praises to you among the nations, for your loving kindness
is great to the heavens, and your truth to the clouds.” Psalm 57:10
As we look back on this past year of 2006 we mourn the loss of two of God’s faithful servants and proclaimers of His Sacred Word, Willard E. Cassel and William H. Bartron, and three faithful wives of our ministers, Cordelia Dunn, Mary Heffner and Addy Mull. They have gone to their reward, to be with their Lord and Saviour. Mrs. Bartron is now receiving a monthly grant from our Minister’s Aid. During the year we have received a number of our ordained Brethren ministering under the direction of the Board of Missions and several who have recently received their license in the BFC. The Society now has 94 paying members besides many retired Pastors and their wives. We covet your prayers that we may be able to continue our ministry in an effectual manner.
Several changes have been made to the article on the Beneficiary Society in the Faith & Order, changing rules, regulations and benefits. Please make yourselves aware of these changes.
1. Any Probationer/Ordained man licensed or ordained by the BFC must become a member of the Beneficiary Society of the BFC, except for those designated in paragraph two under membership.
701-1.3
Each Probationer/Ordained man entering the membership must pay into the society an equal amount of money equivalent to the number of years that he was licensed, up to the current year. This amount will be the total of the amounts paid for each year of his service.
2. The following corrections (in bold and underlined) to be made to the Article on Beneficiary Society in the Faith & Order.
701-1.1
The Beneficiary Society of the BFC is a mutual aid society of all ordained and/or licensed ministers engaged in the ministries of the BFC. – Rest of the paragraph eliminated.
701-1/3
3rd paragraph
Ministers receiving Ministers’ Retirement Fund benefits, ministers on disability, and ministers under the Ministers’ Annuity fund who have retired at age 65 or later are members of the Society by are exempt from dues. Those who continue or choose to continue serving as Pastors under agencies of the BFC must pay dues.
Dues – the dues of all members of the Beneficiary Society shall be set at the annual meeting and shall be p aid at Annual Conference. After a Pastor reaches the age of 72 he no longer is expected to pay into the fund of the society. Non-payment by the end of Annual Conference automatically cancels any claims to benefits until payment is received by the secretary.
Benefits – each member of the Society is entitled to death benefits for himself, his wife and his children. Each child is insured until the reach the age of 19.
A widow of a minister not receiving aid from MRF or MAF shall not receive less than $100 per year.
A member must pay into the Beneficiary Society Fund for at least 10 years to receive full benefits. If a member pays into the fund less than 10 years the benefits are as follows; less than 10 years – ½ of the prescribed benefits; less than 5 years – 1/4 of the prescribed benefits.
When the assets of the Society fall below $110,000, death benefits for the Pastor revert to $5,500
Officers of the Beneficiary Society: John H. Riggall, President; R. C. Reichenbach, Secretary; LeRoy S. Heller, Treasurer
Financial Report
January 1, 2006 to December 31, 2006
[not included here]