Fraternity-Testvériség, 1985 (63. évfolyam, 1-4. szám)
1985-01-01 / 1. szám
Page 2 TESTVÉRISÉG FRATERNITY U.S.P.S. No. 208—820 Official Organ of the Hungarian Reformed Federation of America Published Quarterly Office of Publication: 11428 Rockville Pike, Rockville, MD 20852 Telephone: (301) 770-1144 Postmaster: Form 3579 to P.O.B. 34917, Bethesda, MD 20817 Editorial Committee: Editor-in-Chief, Managing Editor: Rev. Imre Bertalan Associate Editors: Elmer E. Vargo, Vice Pres.-Secretary William Puskas, Treasurer CPS ACTUARIES This will certify that we have completed a valuation of the life insurance certifications of the Hungarian Reformed Federation of America in force as of December 31, 1984 based on lists furnished to us for that purpose, and have found the reserves to be as follows: American Experience 3)*% ............... $ 1,206,928 American Experience 3% ................. 2,720,614 1941 Standard Industrial 3% ........... 671,842 American Men Ultimate 3% ........... 8,277,211 1958 CSO 3% ..................................... 1,241,777 1958 CET 3% ..................................... 35,669 1958 CSO 3&% ................................... 890 P.V. of Payor Death Claims ............. 233 Adjustment for 1st of Month Dating 29,735 Adjustment for Premium Waiver at Age 90 ......................... 10,648 1926-33 Intercompany D.I. with 1941 CSO 2J£% ..................... 18,893 150% Class (3) with AE 3%, 1941 CSO 2)í% ................................ 7,946 Class (3), 3% ........................................ 6,759 1952 Disability Table, Period 2, 3% 15,182 Non-deduction of Deferred Premiums ....................... 37,752 Reinsurance Credit .............................. (3,612) $14,278,467 According to the Annual Statement of the Federation at December 31, 1984, other liabilities amounted to $1,548,774. Therefore, total liabilities, including reserves were $15,827,241. The total Admitted Assets of the Federation as of December 31, 1984, were $21,466,668. Therefore, the surplus over all liabilities including reserves was $5,639,427. The ratios of assets to liabilities have been 1984 — 135.63%; 1983 — 130.78%; 1982 - 129.73%; 1981 - 126.91%; 1980 - 123.29%. George R. Schaumann, Vice President HIGHLIGHTS OF THE TREASURER'S REPORT TO THE BOARD OF DIRECTORS Meeting was held in Washington, D.C. March 11 to March 15, 1985 STATEMENT OF LEDGER ASSETS December 31st, 1984 Cash: On Checking and Savings Accounts ....................... $ 541,519.90 Bonds: AAA and AA bonds are being purchased for shorter duration, with 10 years or less maturity date ............................. 17,552,950.00 Mortgage Loans Since 1978 only residentials, churches and organization mortgages were given out. All mortgages are collectible ............................. 1,985,841.00 Real Estate (Depreciated Value) Branch office in Detroit, Mich........................... 9,452.00 Loans on Certificates ................... 902,536.00 Premiums Collected not yet remitted ......................... 45,143.00 Accident & health premiums due ............................. 371.00 Accrued Investment Due ............... 428,528.00 TOTAL ASSETS (All time high) $21,466,668.00 KEY INDICATORS Ratio of assets to liabilities (All time high) (Solvency Ratio) $ 136.21 Ratio of net investment income to mean assets ............................... 7.77 Mortality rate experience ............. 38.64 Unassigned Funds surplus (all time high) ............................... 5,639,426.00 Dues income .................................... 942,172.94 Investment Income ....................... 1,594,460.00 In my opinion and also in the opinions of our other experts the Federation is in good and sound financial shape. William B. Puskas, Treasurer
