Aging is a Business and Economic Issue, Part 2

Ecumen CEO Kathryn Roberts recently wrote an article about aging as a business and economic issue.The economics of aging also are impacting religious communities. For example:Catholic archdioceses across the country are holiding fundraising appeals for the Retirement Fund For Religious. The United States Conference of Catholic Bishops, where the fund is housed, estimates that by 2023 religious orders could face more than $20 billion in unfunded retirement liabilities. Some other interesting stats:- $2 billion to $9 billion: That’s how the gap between assets available for the cost of living and health care for senior religious has grown in the last two decades. It’s expected to continue growing.– $1.6 billion: The projected annual cost of care for senior priests and nuns. Compare that with the combined Social Security benefits of all retired religious: $184 million per year.– 37,000: Number of Catholic religious in the U.S. past age 70.