Washington D.C., Oct 6, 2004 / 22:00 pm
U.S. Catholics have shown great concern and gratitude to their senior religious priests, brothers and sisters by donating $28,016,815 to the Retirement Fund for Religious in 2003.
Donations enabled the National Religious Retirement Office to award almost $20 million in grants to 541 religious institutes with underfunded retirement programs throughout the country. The grants represent 38,903 senior members, age 70 and over, approximately $513.38 per religious.
In addition, $6.4 million was donated in supplemental grants to orders with critical needs, such as entrance into the Social Security system and assistance with health care costs. Many orders cannot afford health insurance, reports the U.S. Conference of Catholic Bishops.
Between 1993 and 2003 the percentage of women's orders in the U.S., whose retirement plans were 61-100 percent funded, rose from 25 to 51 percent. The percentage of men's communities in the same situation rose from 20 to 64 percent.