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Saturday, July 29, 2006

 

Catholics face crisis over retired nuns

`With tens of thousands of U.S. nuns over age 70, the Roman Catholic Church is facing a massive financial shortfall for the care of retirees in religious orders a gap that over the long term dwarfs costs from the clergy abuse crisis.

Though billions of dollars have been salted away, there still remains an unfunded future liability of $8.7 billion for current nuns, priests and brothers in religious orders. The financial hole is projected by a consulting firm to exceed $20 billion by 2023.’




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