Support for our Priests
Our priests have given their lives to God in service to the people of our Diocese, and it is our honor and commitment as a faith community to provide them with a dignified retirement. With 38 retired priests in the Diocese and an expected 13 retiring in the next 10 years, adequately funding the Priest’s Pension Fund will be an ongoing challenge that we must meet head on. Actuarial projections indicate the Diocese needs an additional $200,000- $300,000 in annual funding, far outstripping the $60,000 provided via the ADA. Our goal is to increase the Priest’s Pension Fund by $2 million, which will bring the fund more in line with the annual need over the next 10 years.
“Even in retirement, many of our priests are loving to the end and doing all that Christ asks of them. They no longer get a regular paycheck and sometimes when they become ill, their savings and their pension doesn’t cover the nursing home or the healthcare costs. We must all step in and help to make sure that we care for the ones who’ve always cared for us.”
Rev. Joseph Pins
Pastor, St. Joseph Catholic Church and School, Des Moines
Questions about Support for our Priests
| How do we support our priests in their retirement? |
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The Priest’s Pension Fund Society of the Diocese of Des Moines, a 501(c)(3) corporation established in 1948, provides retired priests – who generally work until they are 70 years of age – a pension benefit as well as special funding for extraordinary health care or living needs when the priest’s own assets are exhausted. The fund supplements traditional benefits that priests receive through Social Security and/or personal retirement savings.
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| What is the status of the Priest Pension Fund and what do we need to bolster the fund? |
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Actuarial projections indicate the Diocese needs to increase annual contributions to ensure the fund meets the needs of the current and future retired priests and provides a benefit proportional to the current cost of living. Occasional diocesan capital campaigns and bequests are the primary source of income for the Priests’ Pension Fund Society. To support the growing number of retired priests, an additional $200,000 - $300,000 in annual funding is needed, which is far more than the $60,000 provided via the ADA.
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