UNITED STATES
National Catholic Reporter
Jack Ruhl | Feb. 24, 2015
ANALYSIS
The Catholic priesthood is aging at an alarming rate, and thousands of U.S. diocesan priests are expected to retire within the next few years. With most diocesan priest pension plans significantly underfunded, questions over where the money comes from to support them may point to a major crisis in the making.
Fewer than 26,265 diocesan priests remain in the U.S. today and of them, only 68 percent — about 17,900 — are still in active ministry. Only about one-third as many new priests are being ordained each year to make up for the ones who are retiring, dying or leaving active ministry. Dioceses now have one retired priest for every two active priests, and half of all priests in active ministry are over the age of 60.
Half of all priests currently in active ministry also expect to retire by 2019, and most of them expect to receive the pension payments they’ve been promised. Church leaders have known for decades about the looming priest shortage and its implications for sustaining Catholic parishes as eucharistic communities. Another, more hidden crisis lurks in diocesan pension reserves that are underfunded, many of them seriously.
Thousands of priests retiring in the next few years could discover that the pension and post-retirement money they expect from their dioceses is not available. I reviewed the results of the USI Consulting Group’s 2012 Diocesan Retirement Survey of priests and lay employees, focusing on priests. USI Consulting Group, founded in 1981 and headquartered in Glastonbury, Conn., provides retirement and employee benefit plan services throughout the United States.
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