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.
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 ($17,160 to go):
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!