Fraternity-Testvériség, 1970 (48. évfolyam, 1-12. szám)
1970-04-01 / 4-6. szám
of the new business remains the same as experienced in 1969, we shall hit the upward trend in 1970. 1968 1969 Gross Assessments _________________ $1,450,537.21 $1,450,011.71 Net Assessments ___________________ 1,357,445.24 1,357,244.81 1968 U.S.A. CANADA TOTAL Gross Dues Collected .............. $1,405,871.80 $40,102.35 $1,445,974.15 Net Dues Received ___________ 1,316,099.84 37,331.46 1,353,431.30 1969 Gross Dues Collected ______ $1,405,835.45 $34,130.73 $1,439,966.18 Net Dues Received _____________ 1,315,420.27 31,794.66 1,347,214.93 Complying with the resolution of the first regular meeting held in 1969, I asked for another proposal for automation of our Home Office operations. The study prepared by the Actuary shows that computerizing of our billing system will probably not result in any significant savings, unless we adopt the direct Home Office collection. V. TRUST FUND Death benefits which cannot be paid to the beneficiaries because of various reasons (Minor, address unknown, etc.) and proceeds of unclaimed matured certificates are kept on our Trust Fund of Unpaid Claims. As of December 31, 1969, the balance of the Fund was $88,181.62. Several States consider these deposits abandoned properties after seven or eight years, at which time unclaimed amounts must be transferred to the Welfare Departments of the respective States. Occasionally, we publish a list of these deposits in the official paper. VI. BUDGET The President of the CPS Actuaries will present this proposal in detail pointing out the advantages, disadvantages and possible consequences of this far-reaching innovation. After hearing all the surrounding facts and circumstances you may reach one of the following three decisions: 1.) Authorize the automation of the administration; I submit a budget-expense reconciliation for the year of 1969, combined with the proposed budget for the current year. The proposed budget was prepared with the co-operation of the Executive Committee and the Business Counsellor. 2. ) Automate only a fraction of the branches and test the system; I forwarded a monthly budget-expense reconciliation to the National Officers 3. ) Retain the manual operation. and the Accountant. HI. STATISTICAL SERVICE FLUCTUATION SUMMARY FOR 1968-69 VII. PAYROLL AND PAYROLL TAXES CERTIFICATES U. S. A. CANADA 1968 1969 1968 1969 Beginning Inventory ............ ............. 35,301 34,679 820 827 Add: New Certificates ......... .............. 1,249 1,382 154 52 Reinstated.................... ............. 67 72 6 6 Transfers, etc.______---------- 1 — — 8 Total: .............. 36,618 36,133 980 893 Less: Death ....................._.... .............. 387 406 16 8 Matured.............._........ 273 225 — — Lapses ....................... ............. 667 628 132 147 Surrender .................... ............. 612 580 4 14 Transfers, etc...............---------- --8 1 — Year-end Inventory .............. ............. 34,679 34,286 827 724 CHANGES DURING YEAR .. ______ - 622- 393 + 7- 103 INSURANCE IN FORCE Beginning Inventory . ............$45,519,015 $45,626,506 $1,417,500 $1,340,000 Add: New Insurance _____ 2,871,150 3,918,800 485,500 134,000 Reinstated ........ ............ 121,750 115,000 10,000 6,500 Transfers, etc.-------- 111,577 73,220 _ 12,000 Total: ................ ............$48,623,492 $49,733,526 $1,913,000 $1,492,500 Less: Death ................ 344,796 382,297 8,000 4,000 Matured ......... ............ 260,462 217,195 _ _ Lapsed .............. ............ 1,466,908 1,227,577 539,000 433,000 Surrender ........ ............ 786,431 792,387 12,000 20,000 Transfers, etc. . 138,389 159,710 14,000 6,000 Year-end Inventory ............$45,626,506 $46,954,360 $1,340,000 $1,029,500 After deducting the various Federal and State taxes, net proceeds of the salaries were computed and figures forwarded to the Treasurer’s Office. Taxes were submitted together with the prescribed return forms to the U.S. agencies and Canadian tax offices always on due time. It is the recommendation of the Executive Committee that the salary of the Home Office employees and the per thousand compensation of the field force be raised. Details and effect of such raise on the budget will be presented. VUI, REINSURANCE Members carrying more than $15,000 insurance are reinsured with the North American Reassurance Company. I determined and reported reinsurable certificates and subsequent changes. I give account on the cost of reinsurance as follows: Reinsurance premium Actually paid in 1969 ........$1,747.96 Less: Experience Refund for 1968 ___________ 593.05 IV. CLAIM SETTLEMENT U.S.A. No. Amt. Death ------------------- 365 $352,047 Sick Benefit ______ 216 15,193 Hosp’n. ___________ 177 27,081 Matured__________ 521 423,344 Surrender ________ 626 239,553 Others ___________ 187 — Canada U.S.A. Canada No. Amt. No. Amt. No. Amt. 15 $8,000 372 $383,907 8 $4,000 — — 197 13,835 2 420 2 340 161 30,600 ____ ____ — — 388 333,138 ____ ____ 5 1,834 594 240,438 14 2,552 10 — 186 — 9 — NET REINSURANCE PREMIUM PAID FOR THE YEAR...............................$1,154.91 We ceded $236,000 life and $437,000 accidental death insurance. It is more than worth to keep this coverage in force for the relatively small yearly premium of $1,154.91. IX. OTHER SERVICES 1.) As Chairman of the Employes’ ReWe granted loan against 200 certificates in the U.S.A. and 3 in Canada. As of December 31, 1969, we had 1,453 outstanding certificate loans in the U.S.A. in the amount of $511,142.96, and 6 certificate loans in Canada in the amount of $1,728.59. 18
