Each year, the Retirement Fund for Religious (RFR) provides funding to hundreds of eligible religious communities to help underwrite the day-to-day care of senior members and to bolster retirement savings. Special consultative and financial support is also available for communities with critical shortages in retirement funding.
Below, click on a photo to read how RFR programs help religious communities care for senior members.
The Midwest Augustinians faced a challenge common among religious communities today—an outdated and costly facility that no longer met the needs of senior members. Planning and Implementation Assistance, made possible by the Retirement Fund for Religious, enabled the Augustinians to determine the best solution to their property issue and to develop a new approach to elder care. Today, well elders live with active friars at houses throughout the province. Friars requiring assisted or skilled care reside at a nearby retirement facility, where the Augustinians have established a unique canonical community. Now all elders, regardless of their level of care, are able to live in community.
At a 2009 chapter meeting, members of the Congregation of Divine Providence concluded that they could no longer afford to maintain their buildings and land while continuing to provide quality elder care. With inadequate retirement funding and underutilized facilities, the sisters recognized that reliance on Providence required a willingness to look at their future with open hearts and minds. Financial and consultative support, made possible by the Retirement Fund for Religious, helped the community identify creative solutions to their property and elder-care challenges. The resulting retirement strategy has led to improved care and increased long-term funding.