William Penn Life, 1984 (19. évfolyam, 1-4. szám)
1984-04-01 / 2. szám
William Penn Actuary Report Item Death Claims Matured Endowments Emergency Cash Surrender Benefits Payments to A&H Certificates Annuity and Old Age Benefits Supplementary Contract and Refund Accumulations Dividends TOTAL 1982 1983 $1,191,914 $1,512,012 394,174 345,851 1,366,838 2,081,880 149,125 2,104,416 311,826 475,400 182,710 322,289 249,508 239,500 $3,846,095 $7,081,348 In our opinion, the amounts carried in the balance sheet on account of the various acutarial items: (i) are computed in accordance with commonly accepted actuarial standards consistently applied and are fairly stated in accordance with sound principles; (ii) are based on actuarial assumptions which are in accordance with or stronger than those called for in certificate provisions; (iii) meet the requirements of the insurance laws of the Commonwealth of Pennsylvania; (iv) make a good and sufficient provision for all unmatured obligations of the Association guaranteed under the terms of its certificates; (v) are computed on the basis of assumptions consistent with those used in computing the corresponding items in the annual statement of the preceding year end; (vi) include provision for all actuarial reserves and related statement items which ought to be established. Respectfully submitted, BRUCE AND BRUCE COMPANY Consulting Actuaries R. E. Bruce Career Agents Recognized On Tuesday, March 27, the William Penn Association held its annual Awards Dinner. This was to recognize the career agencies for outstanding sales achievements for 1983. Those in attendance were: the National Directors, members of the Auditing Committee and the sales representatives being honored along with their spouses or guests. We were very fortunate to hear some very complimentary remarks by our Chairman of the Board, Mr. Stephen Danko, Esquire. We were also very fortunate to have our National President, Mr. John Sabo, comment on the fine sales achievements of the career agents. Mr. Sabo introduced Ron Abels, F.I.C., National Sales Director, who presented the awards to the various sales representatives. Those people receiving awards were: Fred Aronne, who was given an award for 13 years of loyal, dedicated service to the Association. (Continued on Page 7) Auditing Committee Report The Auditing Committee met March 26, 1984 for the purpose of election. Present were Mr. John Sabo, President, Chairman Pro-Tempore; Mr. Gus G. Nagy, Secretary, Secretary Pro-Tempore; plus members that were re-elected at the 30th National Convention in September 1983. Mr. Sabo called for nominations for Chairman — Emma Beganyi was nominated; there being no other nominations, Emma Beganyi was cast the unanimous vote and declared as elected Chairperson. Mr. Sabo called for nomination for Secretary — Louis Fodor was nominated; there being no other nomination, Louis was elected as Secretary of the Auditing Committee. The Auditing Committee then joined the meeting of the Board of Directors, HOME OFFICE NEWS We wish to announce that Chief Underwriter Ernest Bendzsuk and his wife Lili became first-time grandparents on February 13. Their daughter Kathy and her husband Bill Grundza had a bouncing baby girl named Jennifer Lynn, who weighed in at 6 lbs. 1 4 ozs. Congratulations!!! where each member greeted the assemblage in their own fashion. We were then excused and proceeded to the Home Office to begin our audit. We checked income from premiums, stocks and bonds, mortgages and examined deposits and entries for same. Payrolls, commissions, dividends were checked against vouchers and computer print-outs. Pensions, sick benefits, hospital and accident payments were checked; physically examined all stocks, bonds and securities in bank vault, also checked stocks and bonds bought and sold. Yearly Branch Audit Reports were examined and found that many branches are still not complying with the directive that are sent out from the Home Office. Branches should be notified again, so they would file this important report with the Home Office. Our audit was helped by the cooperation we received from the staff and employees at the Home Office for which we are thankful. Other committee members are: Charles Fabian, Michael Hrabar, Michael Kara and Violet Lenart. Submitted fraternally, Emma Beganyi, Chairperson Louis A. Fodor, Secretary Tournament . . . (Continued from Page 1) a hospitality room in the hotel at 7:30 P.M. The new Hyatt on Capitol Square was selected as the Tournament Headquarters and the Governor's Ballroom was reserved for the banquet on Saturday night. May 26, 1984. Banquet starts at 6:00 P.M. with a cash bar. A prime rib dinner will be served at 7:00 P.M. Music will be provided by George Bátyi and his Gypsy Orchestra. SEE YOU IN COLUMBUS! 3
