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New Retirement Plan Coming to LI Diocese

Employees of Diocese of Rockville Centre will be switched to 403(b) retirement funding depending on amount of years with the diocese, reports state.

The Diocese of Rockville Centre will redefine its retirement plans for certain workers and phase out its former pension plan, according to Newsday.

The almost 3,000 employees who have worked for the Diocese less than 30 years will have their retirement plans switched to a 403(b) plan, essentially a 401(k) plan for nonprofits, said the report.

Diocesan spokesman Sean Dolan told Newsday that the new plan, which will apply to employees with less than 30 years of experience as of Dec. 31, follows that of many other companies.

"We want to be able to deliver what we promise and promise what we deliver," Dolan told Newsday. "Look at how many governments and companies, people just wake up and they find they don't have a pension. We're just trying to make sure that is not the case."

The change will go into effect Jan. 1, 2015, said the report.

Dolan didn’t specify whether the plan would save the Diocese money.

Employees with more than 30 years of work at the Diocese as of Dec. 31 will maintain their original pension plans with fixed monthly payments from the diocese, said the report.

The change will affect “teachers, parish workers, Catholic Charities employees, and others who work in the diocese,” said the report.
joe thrapp March 18, 2014 at 03:38 PM
The money should always go to the needs of the people and not the grandeur of new churches. I believe instead of companies being allowed to close defined pension plan. The Congress should pass a law that makes all companies over 100 employees offer a pension. The pension should be fully funded first before retuning money to the shareholders. The plans in the private sector should be more generous than the public sector. The private sector have less employment guarantees than the public. In NYS I would have a referendum to change the NYS Constitution to remove guaranteed rates to state pension plans. In NYS the municipalities can never lower the pension plans because the constitution gives public workers a constitutional guarantee. Now That's not fair.......................
Jack March 18, 2014 at 11:47 PM
Brookhaven ' Robert If you dislike the Church so much then switch religion. Bottom line, the Catholic [Church] Charities does more for the worlds poor and homeless than any government and by far any other religion. Most religion do nothing. All parishes have a yearly budget and these budgets have been strained due to lower contributions. The main reason for lower contributions is the poor economy. If a parish is maintaining their buildings they are doing the right thing as repairs put off become more expensive later on. Please do not give me any more of your anti Catholic nonsense. Please go to another religion. Joe the NYS constitution can be changed by an amendment but no one including the governor will initiate. The all know which side the bread is buttered. We property tax payers are being ripped off by the teachers union/ school district boards of education.
brookhavenconfucius March 19, 2014 at 04:29 AM
JACK, The Church IS NOT these human FRAUDS and PHONIES, who hold daily and weekly, POLITICAL INDOCTRINATION SESSIONS, AND kowtow to whatever alien political ideology, that is popular, and that they embrace. It is my understanding that ALL religions suffer, to some varying degree, from these FRAUDS. So you have to HOLD YOUR NOSE AND IGNORE THEM, and have enough Faith, that THESE TYPES, are the social flotsam, that is 'PASSING THROUGH', any Society's 'digestive system'...and are anomalies, NOT THE RULE...AND that any 'influence' they have, is temporary...LIKE A MIGRAINE...or a stomach virus !
Robert Demarco March 19, 2014 at 08:07 AM
Jack, I am not anti-Catholic. Humans have done harm to the Church(priests, bishops, etc). I donate regularly and directly to the Parish outreach, which helps people all over the Island. I was not referring to regular maintenance in my previous post. They raised money during the recession to install ceramic, marble, and oak in a church that was 20 years old. I feel that it was an unnecessary burden for the parishioners whose generosity is always exploited. And Jack, the main reason for lower contributions is lower attendance at Mass, and there are many reasons for that.
Jack March 19, 2014 at 07:17 PM
Brookhaven Why don't you criticize all religions like you do the Church. Jump on that bandwagon. Bottom line the Church has so much good for the world and I'm not going to let some earthly men detract me from enjoying being a Catholic and attending Mass. I feel very lucky to be Catholic. The combination of all other religions combined do not come near what the Cathokic Charities has done for those in need. If they make a few mistakes, so be it. Why don't you find yourself another religion if you care about God at all. I think you will be disappointed. Robert, I appreciate your post an agree with you. I think things are cyclical and we have a society an culture now that belittle religion and especially the Church. I enjoy the extra room in the pews and look forward to seeing better days with more attendees. I also look forward to a more conservative government that will support faith based operations and the departure of this leaderless government we have now.

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