Fraternity-Testvériség, 1969 (47. évfolyam, 1-12. szám)
1969-04-01 / 4. szám
Benefits paid and Equity withdrawn in 1968 ................................. 12,937.64 BALANCE ON DECEMBER 31, 1968 ......$146,884.76 The Fund had 19 participating members and 5 pensioners on December 31. 1968. With the approval of the Supreme Council, we transferred $10,000.00 on our books. Since the required actuarial reserve is $165,701.00, we set up a reserve of $18,616.24. When the Plan was established in 1953, an $8,000.00 ceiling was set up as the maxium basis for the contribution by the employees. In order to counterbalance the erosive effect of the inflation this ceiling should be raised to $12,000.00. The Executive Committee submits a request to that effect. b. ) Together with the Treasurer, I prepared a monthly statement of income, disbursements and assets for publication in the “Fraternity”. c. ) As one of the Associate Editors, I wrote articles in our official paper. d. ) Mailing list is maintained and changes of address are handled in my department. A thorough check-up with the co-operation of the branch managers is imperative. e. ) I was elected Vice-President of the American Hungarian Federation by its Convention held in October, 1968. I accepted this position in the hope that I can help to promote our reputation in the U.S.A. and throughout the world through more efficient public relation and information service. f. ) After the resignation of the former Secretary I carried out the following duties in the capacity of Acting Secretary: 1.) I supervised the activities of the Underwriting Department and signed each newly issued insurance certificate; 2. ) I submitted Annual Statements prepared together with the Treasurer, Business Counsellor and Actuary to the State Insurance Departments on time; in turn, these departments have renewed our licenses: 3. ) I, together with the other two Supreme Officers, prepared the amendments to the By-Laws in two versions: one for the present administrative structure, and the other for the so-called “Three Officers Administration”. 4. ) I certified documents involving property rights; 5. ) I designed a new production- quota and compensation system in con- curence with my fellow-officers which was accepted by the field manager’s meeting held in February, 1968 and their contracts were drawn up accordingly; 6. ) I prepared two new pamphlets to advertise our new plans and I took care of the material needs of the officers and the branches; 7. ) I held 3 district meetings: in Chicago, Illinois, San Francisco, California and Los Angeles, California. X. SUMMARY 1968 will not go down as a successful year in the history of the Federation. Considering, however, the unusual difficulties due to the resignation of the Secretary and the administrative and financial burdens as a result of the Convention, we may look upon the final outcome with satisfaction. The drop in membership and certificates is the problem area. We are still growing in insurance in force. There are bright spots, however. The growth of our admitted assets in a convention year is very respectable, so is the 4.27% ratio of net invested income to mean assets which puts the Federation among the best of the nation’s insurance industry. 1968 was the year of reorganization. In order to satisfy the request of the field-force, a new productian-quota system was designed coupled with raises in salaries, expense allowances and commissions. The field was revitalized through employment of new and highly productive managers. Let’s hope that all these changes will move the Federation ahead in every area of our insurance and fraternal activity. The past year offered challenges and brought frustrations as well as gratifying achievements. I am grateful to the Lord for both. During the months of trial the co-operation between employees of the four departments in the Home Office reached an unprecedently high level. I express my grateful appreciation to every one of them and I recommend that they should be properly rewarded for their outstanding services. I wish to recognize by name those employed in the Controller’s Office: Dr. Zoltán Korossy, Mrs. Katalin Paschke, Mr. Gyula László, Mrs. Vilma Csorba, Miss Elizabeth Nagy, Mrs. Irene Simon, Mrs. Andrea Nagy and Mr. Tibor Junghans. I could not possibly cope with the diversified problems without getting the expert advises of Dr. Frank S. Horvath. Medical Director, Mr. Jerry Wizon, Accountant, Mr. George Schaumann, Actuary and Mr. Alex B. Eger, Legal Counsellor. I will long remember the perfect harmony and understanding which existed between the Supreme Officers while we forced to work under very hard pressure. And finally I express my heartfelt thanks to everyone of you, Gentlemen, for your concern and fellowship I was fortunate to enjoy again. I hope that my report will meet your approval and gain final acceptance. I remain, Fraternally yours, László L. Eszenyi Controller MOTHERS ’’When all is said, it is the mother, and the mother only, who is a better citizen than the soldier who fights for his country. The successful mother, the mother who does her part in rearing and training aright the boys and girls who are to be the men and women of the next generation, is of greater use to the community, and occupies, if she only would realize it, a more honorable as well as a more important position than any man in it. The mother is the one supreme asset of the national life. She is more important, by far, than the successful statesman, or businessman, or artist, or scientist!” Theodore Roosevelt 17
