The looming retirement crisis has been of concern across all sectors of the economy and even the clergy are not immune.
Catholic dioceses across the country need to make sure they have made adequate preparations for their priests to live once they retire. A paper by Robert Nordin of Gabriel Roeder Smith & Co., a consultant and actuarial firm based in Southfield, Mich., looked at the issues that need to be considered.
The company, in conjunction with Laity in Support of Retired Priests, built a model to allow a diocese to see how their retirement systems are working. It takes into account, among other factors, pension plans, Social Security benefits and any personal savings a priest may have set aside.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
