According to this article..........."Though billions of dollars have been salted away, there still remains an unfunded future liability $8.7 billion for current nuns, priests and brothers in religious orders." The financial hole is projected by a consulting firm to exceed $20 billion by 2023."
Here it is...With tens of thousands of U.S. nuns over age 70, the Roman Catholic Church is facing a massive financial shortfall for the care of retirees in religious orders _ a gap that over the long term dwarfs costs from the clergy abuse crisis. ...
Though billions of dollars have been salted away, there still remains an unfunded future liability of $8.7 billion for current nuns, priests and brothers in religious orders. The financial hole is projected by a consulting firm to exceed $20 billion by 2023. ....
She says "the impact is more minimal than one might think" because members of orders "are very much about mission" and not worrying about their future needs. Also, orders are "spending their future retirement money for current bills" _ so they are not uncomfortable at the moment. ...
Some religious orders are financially healthy, but Fries' office reckons that only 4 percent of current sisters are adequately funded for their retirement needs. ...
Hundreds of orders have been forced to sell off assets to cover expenses.
They do sound like twi a little ... get the nuns to work with a sense of mission, but don't adequately fund their retirement, God will provide ... or work till you die?
then also the selling of assets to cover liabilities, the sex scandal that cost money ....
I was curious to read it not so much 'cuz of twi as an my great aunt who was a nun. In 1991 or so after several years of consideration she left her order and struck out on her own in the free world. She was 81 years old!
I think it's a really fascinating story, but then again she was my beloved aunt.
After she went through their process, divorced God and jumped through other hoops, she was outa there. But she had nothing; less than nothing, really.
A church that she'd been attending during this exodus helped her get into a tiny little apartment, furnished it for her, etc., loving her through this transition.
With some re-working of some family money and her church family supporting her, she lived happily for another 16 years.
She, like the ones mentioned, had no money, no retirement funds, no medical assistance.
I think my aunt is an exception, not the rule, since she had loved ones to assist.
Velly Intellesting...... Especially since we KNOW how well TWI has taken care of seniors in the past, including Mrs. W. I hope those who know nothing but living in dorms, trailers and depending on TWI for food, lodging and care have loved ones who will care for them when they get kicked to the curb. <_<
Funny, isn't it, how much TWI degrades and makes fun of the Catholic Church, but as time goes on, it becomes more and more obvious that they are cut from the same cloth?
At least I know my ex's family will help him out if he has continued to stay in touch with them since moving to New Knoxville and forsaking the 401K he had started building with his former police department.
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skyrider
According to this article..........."Though billions of dollars have been salted away, there still remains an unfunded future liability $8.7 billion for current nuns, priests and brothers in religious orders." The financial hole is projected by a consulting firm to exceed $20 billion by 2023."
My, oh my............... :blink:
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Shellon
Hi skyrider, where'd you read about this, I'd like to read the article.
Thanks
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dmiller
I also. :) Googled it, and found not much news about it newer than 2002.
You made a good point about twi though.
Given the *treatment* (cough!!) ABANDONMENT they gave Mrs. W. ---
it's a moot point as to IF staff will be abandoned.
The only real question is "what *novel* excuse will twi come up with --
when they let the axe fall?"
If they even try to make an excuse.
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skyrider
shell & dm,
The article is at....
www.comcast.net/news/national/index.jsp?cat=DOMESTIC&fn=/2006/07/27/443451.html
Hopefully, someone can link to it......I'm still a-learnin'.
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rhino
Here it is... With tens of thousands of U.S. nuns over age 70, the Roman Catholic Church is facing a massive financial shortfall for the care of retirees in religious orders _ a gap that over the long term dwarfs costs from the clergy abuse crisis. ...
Though billions of dollars have been salted away, there still remains an unfunded future liability of $8.7 billion for current nuns, priests and brothers in religious orders. The financial hole is projected by a consulting firm to exceed $20 billion by 2023. ....
She says "the impact is more minimal than one might think" because members of orders "are very much about mission" and not worrying about their future needs. Also, orders are "spending their future retirement money for current bills" _ so they are not uncomfortable at the moment. ...
Some religious orders are financially healthy, but Fries' office reckons that only 4 percent of current sisters are adequately funded for their retirement needs. ...
Hundreds of orders have been forced to sell off assets to cover expenses.
They do sound like twi a little ... get the nuns to work with a sense of mission, but don't adequately fund their retirement, God will provide ... or work till you die?
then also the selling of assets to cover liabilities, the sex scandal that cost money ....
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Shellon
Thanks sky and rhino.
I was curious to read it not so much 'cuz of twi as an my great aunt who was a nun. In 1991 or so after several years of consideration she left her order and struck out on her own in the free world. She was 81 years old!
I think it's a really fascinating story, but then again she was my beloved aunt.
After she went through their process, divorced God and jumped through other hoops, she was outa there. But she had nothing; less than nothing, really.
A church that she'd been attending during this exodus helped her get into a tiny little apartment, furnished it for her, etc., loving her through this transition.
With some re-working of some family money and her church family supporting her, she lived happily for another 16 years.
She, like the ones mentioned, had no money, no retirement funds, no medical assistance.
I think my aunt is an exception, not the rule, since she had loved ones to assist.
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Belle
Velly Intellesting...... Especially since we KNOW how well TWI has taken care of seniors in the past, including Mrs. W. I hope those who know nothing but living in dorms, trailers and depending on TWI for food, lodging and care have loved ones who will care for them when they get kicked to the curb. <_<
Funny, isn't it, how much TWI degrades and makes fun of the Catholic Church, but as time goes on, it becomes more and more obvious that they are cut from the same cloth?
At least I know my ex's family will help him out if he has continued to stay in touch with them since moving to New Knoxville and forsaking the 401K he had started building with his former police department.
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topoftheworld
Gezz, if I had known nun's got retirement benefits, I mighta considered going that route!
I'm living as a nun, anyway......
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