Philadelphia archdiocese troubled by shortfall in clergy pension fund
June 18, 2013
The Philadelphia archdiocese faces a serious shortfall in funding for its clergy pension fund.
In meetings with priests, Archbishop Charles Chaput has spoken frankly about the shortfall, according to priests who attended the sessions. The fund reportedly stands at $4.5 million, while $90 million is needed to meet predicted expenses.
The archdiocese plans to increase assessments on parishes and heavier contributions from retired priests living in archdiocesan housing in order to address the shortage.