Cost of annual retirement care for US religious tops $1 billion
November 20, 2013
The “total cost of care for senior women and men religious” topped $1.1 billion in 2012, the United States Conference of Catholic Bishops (USCCB) stated in a press release on the annual Retirement Fund for Religious collection.
61% of religious communities in the United States that take part in the collection have a median age of 75 or over. By 2023, “retired religious will outnumber wage-earning religious by four to one,” according to the press release.
“Of 548 communities submitting data,” the USCCB added, “only 8% were fully funded for retirement.”
Catholics have contributed $698 million to the collection since 1988, including $27 million in 2012.