Concordia Plan Services (CPS)
Report to the Atlantic District Convention
Greetings in the name of our risen Lord and Savior Jesus Christ!
Our Mission: “Serve ministries… Care for workers… So that the Word of God spreads.”
One of the 10 objectives for forming our Synod is to “Aid in providing for the welfare of pastors, teachers, and other church workers, and their families in the event of illness, disability, retirement, special need, or death”. For 60 years, the LCMS has used the Concordia Plans as the primary vehicles for fulfilling that objective as we walk together in ministry.
The impact on workers plays out in different ways, depending on the events they face. At times, the LCMS is standing alongside workers during the most challenging of circumstances, such as health issues, disability, or death. And at times we walk together in times of joy and blessing, such as the birth of a child or in retirement.
An example comes from one of the Atlantic District’s very own, Dr. David Hahn:
My wife Janet and I have been receiving Concordia Plans retirement benefits for almost a decade now. For sure, this program is a huge blessing for us!
On the first day of every month, we look at our online checking account and voila our new deposits are there! The CPS benefit forms a strong foundation for our overall financial game plan. Also since our Concordia pension is a defined benefit plan, we have a guaranteed income stream for the rest of our lives. This is obviously a huge comfort as we look to the future.
Finally, we know Jim Sanft and lots of other Concordia Plans leaders very well. They’re all very bright and competent. We feel like the plan is in solid, professional hands! On top of all this, the Concordia Plans folks are just really pleasant men and women who truly believe in their ministry.
Balancing the Mission
The Concordia Plans are the self-insured employee benefit trusts of The Lutheran Church–-Missouri Synod, meaning we insure each other! Contributions are intended to cover the cost of benefits plus administrative expense – insurance company profit and overhead are removed from the equation. This means more dollars are poured into the care of workers than if we individually sought out insurance policies.
Concordia Plan Services works diligently to provide both efficient and effective benefit programs. Effective in terms of the desired outcomes for workers and efficient in terms of controlling costs while still achieving the targeted outcomes.
In 2024, we announced an increase in the contribution rates for the Concordia Retirement Plan. The series of increases is not due to a current financial challenge. Instead, the increases are needed to put the Plan back on track to long-term financial strength and viability.
At the same time, we put forward changes to the Concordia Health Plan that will deliver nearly $90 million in savings over a three-year period (beginning in 2024)!
Focus on Service
As ministries continue to face challenges concerning resources (people and dollars), we recognize the need for CPS to elevate the level of service we provide to ministries and our members.
In the months to come, you will be hearing about two new initiatives (MyAdminPartner and MyServicePartner) that will help ministries with limited HR capacity manage payroll and benefit administration more efficiently.
Looking Ahead
As was the case 60 years ago, we can see—and measure—the value of walking together in caring for church workers. The board, leadership, and staff of CPS stand committed to fulfilling our two-part mission of service to workers and to ministries.
What makes the model work, financially and operationally, is full and broad participation. In other words, we need you to help us continue to deliver on the 10th objective of forming our Synod!
When it comes to caring for our workers, we truly are better together!
May God richly bless your convention and your work in the Atlantic District!
