William Penn Life, 1977 (12. évfolyam, 1-4. szám)
1977-04-01 / 2. szám
William Penn Actuary Report Item 1975 1976 Death Claims $ 982,554 $1,083,632 Matured Endowments 457,002 355,447 Surrender Benefits 441,671 400,178 Payments to A & H Certificates 183,843 190,567 Disability Benefits 2,818 3,051 Supplementary Contracts and Refund Accumulations 74,759 78,449 Dividends 178,064 195,575 TOTAL $2,320,711 $2,306,899 In our opinion, the amounts carried in the balance sheet on account of the actuarial items identified above, (it 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 provisions for all actuarial reserves and related statement items which ought to be established. Respectfully submitted, BRUCE & ASSOCIATES Consulting Actuaries 1976 ANNUAL STATEMENT FINANCIAL REPORT ASSETS: Bonds------------------------------------------------------------------------------- $30,614,089 Stocks------------------------------------------------------------------------------- 1,563,357 Mortgage Loans---------------------------------------------------------------- 1,189,279 Real Estate---------------------------------------------------------------------- 1,307,096 Certificate Loans-------------------------------------------------------------- 811,026 Cash---------------------------------------------------------------------------------- 448,414 PREMIUMS: Life----------------------------------------------------------------------------------- 13,251 Accident S Health-------------------------------------------------------------- 3,240 Accrued Investment Income----------------------------------------------- 554,042 Total Admitted Assets-------------------------------------------- 36,503,748 LIABILITIES, SPECIAL RESERVES AND SURPLUS CERTIFICATE RESERVES: Life------------------------------------------------------------------------------------ 27,720,072 Accident S Health-------------------------------------------------------------- 365,011 Supplementary Contracts Without Life Contingency--------- 54, 526 Miscellaneous--------------------------------------------------------------------- 235,000 CERTIFICATE CLAIMS: Life----------------------------------------------------------------------------------- 52,533 Accident S Health-------------------------------------------------------------- 8,287 Refund (Dividend) Accumulations------------------------------------- 1,260,063 Advanced Premiums----------------------------------------------------------- 730,013 Commissions, Taxes, General Expenses Due or Accrued--------------------------------------------------------------------- 31,487 Pension Benefit Funds------------------------------------------------------- 1,114,236 Security Valuation Reserve----------------------------------------------- 741,861 Trust Account--------------------------------------------------------------------- 103,941 Other Liabilities----------------------------------------------------------------- 62,603 Total Liabilities------------------------------------------------------ 32,479,639 Special Reserves---------------------------------------------------------------- 13,123 Unassigned Surplus----------------------------------------------------------- 4,010,985 Western Pennsylvania Scholarship Dinner-Dance Each year Branches 34, Pittsburgh, 71 Duquesne, 89 Homestead, 22C McKeesport and 290 Springdale sponsor a Dinner-Dance for the benefit of the William Penn Scholarship Foundation. Our next Dinner-Dance is scheduled for Friday evening, June 24, 1977 at Duquesne Golf Club, West Mifflin, Pennsylvania. Area members are requested to contact their local Branch Officers for tickets and reservations. The last Dinner-Dance netted the Scholarship Fund $936.78. Pictured in this issue on Page Five are some of the members and friends who attended. In Memóriám Paul Szentmiklossy A veteran fraternalist in the American-Hungarian fraternal life, Mr. Paul Szentmiklossy passed away January 29, 1977 and in him we mourn the loss of not only a fine member but an excellent friend. Paul began his career toiling in the field for the Hungarian Reformed Federation and in recognition of his invaluable service to his Associaton he was elected Natonal Treasurer and held that esteemed position for 16 years until his death. Paul was recognized in the fraternal congresses both on the State and National levels. He served as an Officer in the New Jersey Fraternal Congress, D.C.-Maryland Congress and the State Fraternal Congress section of the National Fraternal Congress of America. Our paths crossed constantly and he was a firm believer in the need for the two largest Hungarian fraternal benefit societies to write as one, in order to preserve the Hungarian heritage and culture in the U.S.A. Perhaps his vision will become a reality. Regretfully we did not learn of Paul’s death until the morning he was buried, therefore, we could not personally pay our respects. We do, however, here extend condolences to his widow Helen, and the children. May he rest in Peace. Total 36,503,748 7
