Parishes to Conduct Annual 'Share in the Care' Collection for Elderly Nuns, Brothers, Priests in Religious Orders

Parishes to Conduct Annual 'Share in the Care' Collection for Elderly Nuns,
Brothers, Priests in Religious Orders

Collection slated for December 12-13

Changing demographics of religious institutes leave retirement plans
underfunded

Some can't pay for heat, medical care, needed repairs of old buildings

WASHINGTON, Nov. 9 /PRNewswire-USNewswire/ -- The annual Retirement Fund for
Religious national collection will be taken up in most U.S. parishes December
12-13. The collection theme is 'Share in the Care.'

Now in its 22nd year, the collection is coordinated by the National Religious
Retirement Office (NRRO) in Washington and benefits thousands of elderly women
and men religious whose communities lack adequate funding for retirement.

"Funding needs are more dramatic than ever," said Sister Janice Bader, a
Sister of the Most Precious Blood of O'Fallon, Missouri, and NRRO executive
director. "We recently got a call about a religious order that could not pay
its heating bill. We've found sisters cutting back on medical and dental care
to save money. A lot are living in 'Peter Pan' housing, built as if the
sisters would stay forever young. These institutions need to be made
handicapped-accessible."

She said many sisters, brothers and religious order priests have been helped
by recent donations.

"I am continually heartened by the overwhelming generosity of Catholics to
this fund each year," she said. "Even in these difficult financial times,
Catholics across the nation find a way to give back to the women and men
religious who sacrificed so much for our Church and our world."

The financial crisis is rooted in low salaries and changing demographics.
Traditionally, religious worked for small stipends that furnished only the
basics of daily living. There were no retirement plans or pensions, and care
for elderly members was provided largely by younger members. Over the last few
decades, however, elderly religious have begun to outnumber younger religious,
and the income of those engaged in compensated ministry can no longer keep
pace with the growing cost of elder care. Moreover, the number of wage earners
is projected to decrease sharply over the next 10 years, resulting in
significantly less income available to support senior religious.

The 2008 collection drew over $28.2 million. Since 1988, Catholics have
donated nearly $589 million to the annual appeal. Approximately 95 percent of
these donations are distributed almost immediately to support the care of
senior religious.

The 2008 appeal, for example, enabled the National Religious Retirement Office
to distribute over $23 million to 483 religious institutes. These funds
supplemented the day-to-day care of elder religious and helped religious
institutes implement long-range retirement strategies. The NRRO also
distributed close to $3 million in targeted financial assistance to support
self-help projects, such as collaborative health care facilities, initiated by
religious institutes.

The retirement crisis developed as demographics of religious institutes
changed, so that now there are more elderly than younger members. The problem
has been compounded by skyrocketing health care costs. Today, there are more
than 35,000 women and men religious over age 70, and more than 5,500 religious
require skilled care.

Historically, older religious worked for years for small stipends, with
surplus income reinvested in their ministries, such as schools and social
service agencies. Retirement was not a priority in the past when there were
enough younger members to care for older ones.

Over the next 10 to 15 years, the number of religious age 25 to 74 is expected
to decrease sharply. With this decline, the income of religious institutes
will drop precipitously.

For more information, visit www.retiredreligious.org.

Backgrounder: Retirement Fund for Religious

In 1988, Catholic bishops in the United States launched the Retirement Fund
for Religious (RFR) to address the significant lack of retirement funding for
Catholic nuns, brothers, and priests in religious orders. The National
Religious Retirement Office (NRRO), formerly the Tri-Conference Retirement
Office, was established to coordinate the annual collection and to distribute
the proceeds of this collection to religious institutes in need.

Traditionally, women and men religious worked for small stipends that
furnished only the basics of daily living. There were no retirement plans or
pensions, and care for elderly members was provided largely by younger
members. Over the last few decades, however, elderly religious have begun to
outnumber younger religious, and the income of those engaged in compensated
ministry can no longer keep pace with the growing cost of elder care.
Moreover, the number of wage earners is projected to decrease sharply over the
next 10 years, resulting in significantly less income available to support
senior religious.

The annual appeal for the Retirement Fund for Religious, which is taken up
each December in most U.S. Catholic parishes, provides vital support to
religious institutes in meeting current and future retirement needs. Since
1989, the National Religious Retirement Office has distributed over $557
million to religious institutes across the nation, including more than $493
million to help underwrite the direct care of elderly religious. Almost $64
million has supported efforts by religious institutes to stabilize retirement
savings and to develop comprehensive retirement strategies.

Religious are careful stewards of the funds received through the RFR and
strive to maintain a low cost of care. For example, the October 2008 Metlife
Market Survey of Nursing Home and Assisted Living Costs reported that the
national average rate for a semi-private nursing home room was $69,715. By
comparison, the cost of skilled care for a religious in 2008 was just over
$55,000.

In addition to sponsoring the annual appeal, the National Religious Retirement
Office offers assessment tools, educational programming, services, and
resources that enable religious institutes to evaluate and prepare for
long-term needs. The NRRO also coordinates an extensive network of volunteer
consultants, including experts in elder care and financial planning, to help
religious institutes plan for the ongoing care of senior members.

The NRRO is sponsored by the Conference of Major Superiors of Men (CMSM), the
Council of Major Superiors of Women Religious (CMSWR), the Leadership
Conference of Women Religious (LCWR), and the United States Conference of
Catholic Bishops.

For more information, visit www.retiredreligious.org.

SOURCE U.S. Conference of Catholic Bishops

Sr. Mary Ann Walsh of the U.S. Conference of Catholic Bishops, +1-202-541-3200
(O), +1-301-587-4762 (H)