Fraternity-Testvériség, 1982 (60. évfolyam, 1-4. szám)
1982-04-01 / 2. szám
CLAIM SETTLEMENTS AND CERTIFICATE LOANS U.S.A. 1981 CANADA U.S.A. 1980 CANADA Type Number Amount Number Amount Number Amount Number Amount Death 277 353,836 11 18,000 284 370,001 5 1,250 Sick Benefit 72 8,268 1 110 73 8,131 — — Hospitalization 28 7,821 — — 29 4,881 1 380 Matured 378 452,192 11 13,879 470 517,521 7 9,000 Surrender 545 353,701 18 15,545 583 364,645 10 12,731 Other 347 — 20 — 311 — 17 — TOTALS 1,647 61 — 1,750 — 40During the year, 207 new loans were granted to the members against their insurance certificates. This increase could have been due to the very attractive interest rate of 5% presently charged on our older certificates. The outstanding loans amount to $745,022.00 in the USA and $12,496.00 in Canada as of December 31, 1981. There were 761 expense voucher« issued in the USA and 55 in Canada. All claims with proper documentation were processed and cleared within 24 to 48 hours ef arrival. Again this past year we are fortunate that our mortality experience has remained high. EMPLOYEE’S RETIREMENT FUND As chairman of the Employees’ Retirement Fund, the following activity is being herewith reported. The plan is fully funded and the required actuarial reserve is set aside as a liability. There are 13 employees in-the Plan. Benefits are being paid to 10 members or beneficiaries who have retired. LIMITATION OF EXPENSES This past year of 1981 shows that we have again overspent the limitation of expenses set by New York. The method used for their calculations have been repeatedly questioned by many fraternals but to no avail. This could be brought in line by the writing of more new business and revising the mode of payment that reflects remuneration to the premium income received by the society. OTHER DUTIES In addition to the duties outlined in the by-laws, the following tasks are performed by me. RECORDING SECRETARY Executive Committee — 27 meetings Board of Directors — 2 meetings Board of Managers Bethlen Home — 4 meetings Student Aid and Loan Fund — 7 meetings Consolidation Meetup Minutes of all meetings and pertinent information regarding the consolidation have been sent to all directors. All of these minutes are on file in my office and are available for your inspection. I am also Chairman of the Employees’ Retirement Fund for which two (2) meetings were held in the past year. REINSURANCE All life insurance certificates issued that are over $ 15,000.00 are automatically insured up to $60,000.00 with the North American Reassurance Company. In accordance with the diversified duties of my office, I extend my heartfelt thanks and appreciation to my office staff. In the claim settlements, my secretary, Mrs. Katalin Paschke who has handled all matters in a very prompt and efficient manner along with the many year end statistics for the annual statement. In the underwriting and general secretarial duties, Mrs. Martha Major has handled these duties efficiently and expeditiously along with being a very important co-worker with Dr. George Topor who is presently working on a part-time basis. In the machine operations, Dr. Zoltán V. Korossy is the old standby in our outmoded system and processed the reports and statistics. Without the fine cooperation, dedication and loyalty of such a staff, it would be most difficult to render the proper services to our membership. My heartfelt thanks and appreciation are extended to my fellow Officers, Directors, Home Office employees, Medical Director, Financial Counselors, Legal Counselors and Field Force for their cooperation and assistance during the year. This report is being submitted in hopes that it will receive your acceptance. E. E. Vargo, F.I.C. Vice President-Secretary
