The Need
What do the Clergy Funds support?
The Clergy Funds were established in the early 1970s. These funds provide for the healthcare and retirement needs of Senior Priests, healthcare costs of active priests, and the Senior Priest retirement home, Regina Cleri.
How many Priests and Senior Priests are in the Archdiocese of Boston?
There are 752 priests in the Archdiocese of which 274 are Senior or Disabled Priests. Over the next five years an additional 74 priests will be eligible for retirement.
Why are the Clergy Funds in such need?
In 2000 the economy was strong and robust and the Clergy Funds had accumulated $90 million. During this period of time new benefits were added, including:
- nursing home and assisted living benefits;
- increased the medical benefits;
- an aggressive dental plan;
- paid stipends for priest not in active ministry; and
- the purchase of Regina Cleri, a retirement home for Senior Priests.
Over the last nine years, several factors have combined to destabilize these funds. The significant rise in healthcare, assisted living and nursing home care have placed a burden on the financial stability of the Funds. Our funds have not been immune to the recent stock market decline.
At the same time, the number of retired priests rose from 18% in 2000 to 34% in 2009, and this number is expected to reach approximately 41% in just a few years.
Priests of the Regina Cleri residence at an informal dinner.
How is the Archdiocese addressing the situation?
The Archdiocese is actively taking steps to ensure and provide the retirement and healthcare benefits that our priests are entitled to. A business plan that has been developed and is being implemented will decrease expenses and increase revenue so that the current operating deficit will be decreased significantly over the next year. Through all our efforts, it will still require the generous response of the entire Catholic Community.
Understanding the importance of caring for the priests in the Archdiocese, His Eminence made the stabilization of the Clergy Funds one of his top priorities. The Cardinal Seán is committed to ensuring adequate retirement stipends and appropriate healthcare for the growing number of retired priests in the Archdiocese.
How are the Clergy Funds managed?
The Clergy Funds will be governed by an independent Board of Trustees, comprising members of the business community, Archdiocesan leadership, and clergy. This new board will oversee the management of the fund, reorganize the trusts, improve communications regarding policies and programs, control the costs of the fund, and protect the integrity and purpose of the funds.
The everyday oversight and activities are performed by the Clergy Benefits Team: Joseph D’Arrigo, Maria Sullivan, Joan Smith, Mary Hanlon, RN, and Maryellen Barrett. Learn more about our Team. The Clergy Funds are also supported by a group of dedicated priests who serve on the Policy Committee.
Cardinal Seán’s Commitment to Priests in the Archdiocese:
As a presbyterate and an Archdiocese we have accomplished a great deal during the past five years. We have made great strides toward restoring confidence and trust among the people of God, and we must be ever vigilant in that sacred responsibility. We have stabilized our central ministries, reduced debt and directed more funds to programs and services. We are working diligently to improve the finances at our hospitals and schools and are making good progress. I know that you are understandably concerned about the circumstances of the priest pension and healthcare trusts, where there are major shortfalls. I pledge that we will resolve this problem and provide for your needs after you have devoted a lifetime of service to God and His people. Together, we will go forward to carry out the mission entrusted to us by Jesus Christ.
- Cardinal Seán’s 5th anniversary address to the priests of the Archdiocese of Boston