Archdiocese of Philadelphia reports bigger loss in fiscal 2017
Besides establishing a surplus in priests' retirement plans, the central office for financial matters said the deficit in the lay employees retirement plan fell to
In a commentary on the fiscal 2017 financial results,
Archbishop
In addition to the
One of the properties, a 200-acre-plus
The days of the deposit-and-loan fund may be numbered. As of last February, the fund no longer opens new accounts, accepts deposits, or makes loans. In addition, the fund distributed
"A wind down is a real possibility, but a final decision regarding that matter has not been made," O'Shaughnessy said. "A wind down would also take quite some time as it requires collection of the outstanding loans."
As of
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