Appeal Supports Retirement Needs of Elderly Sisters, Brothers, Religious Order Priests

WASHINGTON—The30th appeal for the Retirement Fund for Religious will be held Dec. 9-10 inmost U.S. Catholic parishes. The annual, parish-based collection is coordinatedby the National Religious Retirement Office (NRRO) and benefits some 32,000 agingCatholic sisters, brothers and priests in religious orders.  

Catholicbishops of the United States initiated the collection in 1988 to help addressthe deficit in retirement savings among the nation's religious congregations.Proceeds are distributed to eligible congregations to help underwriteretirement and health-care expenses. Roughly 94 percent of donations aidelderly religious.

"Wecontinue to be amazed and grateful for the outpouring of support for seniorreligious and their communities," said Presentation Sister Stephanie Still, theNRRO's executive director.

The2016 appeal raised more than $30 million. The NRRO distributed $25 million infinancial assistance to 390 religious communities across the country. Religiouscommunities combine this funding with their own income and savings to meet ahost of eldercare needs, including medications and nursing care. Throughout theyear, additional funding is allocated to provide expanded assistance to religiouscommunities with significant retirement-funding deficits. A portion of theproceeds also supports education in retirement planning and eldercare delivery.

Whilesupport from the Retirement Fund for Religious has helped many religiouscommunities to stabilize retirement accounts, hundreds of others continue to lacksufficient resources to fully provide for older members. Most senior religiousworked for little to no pay, leaving their religious communities with inadequateretirement savings. At the same time, religious communities are challenged bythe rising cost of care. Last year, the averageannual cost of care for senior religious was $42,000 per person, while skilledcare averaged more than $63,000, according to NRRO data. In 2016, thetotal cost of care for women and men religious past age 70 exceeded $1.2billion.

Proceedsfrom the collection underwrite financial assistance, educational programmingand hands-on consultation that help religious communities reduce fundingdeficits, enhance eldercare and plan for long-term needs. "Our goal is to helpreligious communities meet today's retirement needs while preparing for theones to come—so that religious young and old can continue to serve the Peopleof God," said Sister Still.

Moreinformation is available at www.retiredreligious.org.

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Keywords:National Religious Retirement Office, NRRO, retirement, eldercare, U.S.bishops, Sister Stephanie Still, USCCB, U.S. Conference of Catholic Bishops,National Collection

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