Posts Tagged Jack Ruhl
The U.S. Catholic church has incurred nearly $4 billion in costs related to the priest sex abuse crisis during the past 65 years, according to an extensive NCR (National Catholic Reporter) investigation of media reports, databases and church documents.
“In addition, separate research recently published calculates that other scandal-related consequences such as lost membership and diverted giving has cost the church more than $2.3 billion annually for the past 30 years.
“Between 1950 and August of this year, the church has paid out $3,994,797,060.10, NCR found.”
By Jack Ruhl and Diane Ruhl, National Catholic Reporter — Click here to read the rest of this story. NCR also has editorialized on this topic, and the editorial, “The deep, lasting financial cost of sex abuse,” can be read by clicking here.
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 …
“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 …
“The hierarchy must admit that changes are needed in financial management. At the same time, priests and laity must demand more financial transparency and accountability. Pell (Cardinal George Pell, Prefect for the Secretariat for the Economy), referring to anticipated changes in the Vatican bank said, ‘There need to be changes in the economic area — not just with the so-called Vatican bank — but more generally there is work there to be done [and] a need to ensure that things are being properly done.’
“Let’s hope the American hierarchy gets the message.”
By Jack Ruhl, National Catholic Reporter — Click here to read the rest of this story.