The National Religious Retirement Office (NRRO) announced that the Archdiocese of Newark will hold the annual Retirement Fund for Religious collection in parishes throughout the archdiocese from Dec. 10 to Dec. 11, 2022.
What is the Retirement Fund for the Religious?
The Retirement Fund for the Religious is an annual collection for elderly, retired Catholic sisters, brothers, and religious order priests—known collectively as women and men religious.
Why is it important?
Historically, women and men religious served for little to no pay. With rising health-care expenses, hundreds of U.S. religious communities face a large gap between the needs of their older members and the funds available to support their care. As a result, many retired religious now lack adequate retirement savings.
What does your donation do?
Since the collection began, almost $817 million has been distributed to support the day-to-day care of elderly sisters, brothers, and religious order priests. An additional $102 million has been allocated for programs to assist religious institutes with comprehensive retirement planning. In addition to direct financial assistance, proceeds from the annual collection underwrite educational programming, services, and resources that enable religious communities to evaluate and prepare for long-term retirement needs. Support from the Retirement Fund for Religious helps religious communities care for senior members while continuing important ministries to the People of God.
For most of their lives, elder religious worked for little to no pay. There were no 401(k) plans or pensions.
The average annual Social Security benefit for a religious is $7,326, whereas the average US beneficiary receives $19,896.
The 2021 collection raised nearly $28.5 million, and the NRRO distributed funding to 271 U.S. religious communities. Last year, the parishioners of the archdiocese donated $325,581.40 to the collection.
To donate to the Fund, click this link.