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Facing Shortfall, Boston Archdiocese Pares Clergy Pension Benefits Catholic Culture May 26, 2009 http://www.catholicculture.org/news/headlines/index.cfm?storyid=3035 The Boston archdiocese has sharply cut back on benefits to retired clergy, in order to face the collapse of its underfunded clergy-retirement account. The new archdiocesan policies will also trim benefits to priests who take leaves for health reasons. The pension fund for the Boston clergy is underfunded by $114 million, according to an archdiocesan report, and annual benefit payments outstrip contributions to the fund by $10 million. In reducing benefits, the archdiocese explained that previous policies would have exhausted the pension fund by 2011. |
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