Click here to advertise on CatholicCulture.org

Milwaukee archdiocese discloses shortage in pension funds

Catholic World News - October 26, 2011

In bankruptcy-court filings, the Archdiocese of Milwaukee has disclosed that its pension funds for priests and lay employees are underfunded.

Archdiocesan officials said that the shortage of pension funds can be attributed to recent declines in the stock market, and said that the problem is “no current cause for concern to employees.” But the size of the shortfall could cause difficulties for the archdiocese.

The Milwaukee archdiocese has filed for bankruptcy protection because of the prospect of enormous payments to sex-abuse victims.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our July expenses ($15,942 to go):
$35,000.00 $19,058.29
46% 54%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

Sons of Dominic Prepare for Family Synod 7 hours ago
Dominican theologians assess proposals for divorced and remarried 8 hours ago
The ‘Pope Francis effect’—changing the way the world sees the papacy 9 hours ago
Renewal with God Behind Us: Man Determines All July 28
Introducing the Church Fathers July 27

Top Catholic News

Most Important Stories of the Last 30 Days
New management, new changes coming for reformed Vatican bank CWN - July 8
Sweeping reforms to Vatican's media, financial operations CWN - July 9
‘Even Genghis Khan didn’t do this’: Mosul emptied of Christians CWN - July 21