At 16:56 28/02/2013, you wrote:
I wonder how it compares to the CEO of a multi-national corp. Isn't that
the way it should be compared rather than to the common man?
D
Nothing at all in the shape of a cheque paid into a personal bank account.
Besides, like your average billionaire, ex-Pope Benedict needn't touch a
banknote or a coin again. He's already at the top and needn't buy anything
to demonstrate his status to us. If, however, he were to take a couple of
simple non-theological decisions he'd be well worth a golden handshake far
more lavish than any that CEOs receive. What are these decisions? Firstly,
to revoke the anti-contraception policy of the Catholic Church. Secondly,
to reverse the ruling about the celibacy of the clergy. This would reduce
homosexualtiy in the seminaries and the monasteries, as also a great deal
of paedophilia by priests.
Keith
.
On 28/02/2013 7:22 AM, Arthur Cordell wrote:
How the pope's retirement package compares to yours
* by A. Pawlowski, TODAY contributor
* Feb. 28, 2013
Michael Kappeler/EPA
By A. Pawlowski, TODAY contributor
Its good to be the pope even a retired one, it turns out.
As Pope Benedict XVI steps down on Thursday, his retirement package the
first one the Vatican has had to prepare in almost 600 years would
likely be considered a sweet deal by the average American senior,
providing a steady income and generous perks.
Lets start with the basics: The pope emeritus will receive a monthly
pension of 2,500 euros,
<http://www.lastampa.it/2013/02/18/italia/cronache/nel-buen-retiro-in-vaticano-con-una-pensione-da-euro-JbEcXKSmhcFU8zOZlsnmKI/pagina.html>according
to Italian newspaper La
Stampa<http://www.readability.com/articles/eldtcuhu#rdb-footnote-1>1.
That translates to almost $3,300, or close to the monthly maximum of
$3,350 that Social Security will pay to an American who retires this year.
Few people will actually qualify for that amount. For starters, you would
have to <http://www.ssa.gov/oact/cola/examplemax.html#fn3>wait until 70
to retire<http://www.readability.com/articles/eldtcuhu#rdb-footnote-2>2.
You would also have to spend most of your working life earning Social
Securitys taxable maximum pay,
<http://www.ssa.gov/planners/maxtax.htm>which is set at $113,700 this
year<http://www.readability.com/articles/eldtcuhu#rdb-footnote-3>3.
Thats quite rare, said Richard Johnson, director of the program on
retirement policy at the Urban Institute.
He pointed out that the average Social Security check is about $1,200 a
month not enough to pay for the typical American retirees expenses.
For most people, if you look at the median, Social Security counts for
about 40 percent of their income. So its important, but people rely a
lot on other savings, like pensions or 401(k) savings, Johnson said.
A big nest egg is not something the pope emeritus has to worry about. The
Roman Catholic Church will cover his living expenses, provide him with a
spacious home inside the Vatican and pay for everything from cooked meals
to housekeepers,
<http://www.telegraph.co.uk/news/religion/the-pope/9877578/Pope-Benedect-XVI-to-receive-2150-pension.html>according
to The Telegraph<http://www.readability.com/articles/eldtcuhu#rdb-footnote-4>4.
Such services are not available to the typical American senior, unless he
or she pays for an assisted living facility or resides in a nursing home,
Johnson said.
What about waiting to retire until 85, as Benedict did? The average
American retires at about 64, so working that long is unusual, Johnson noted.
If you have a job you love, its great, he said.
(But) just like the pope, the biggest determinant of retirement is
health status. When your health starts to deteriorate, thats what often
pushes people into retirement, sometimes earlier than expected.
Health care costs are one of the big risks that older Americans face, and
while Medicare pays for the bulk of their expenses, many things are left
uncovered, Johnson said. Meanwhile, the pope emeritus will continue to be
a member of the Vatican's generous private health care policy,
<http://www.bbc.co.uk/news/magazine-21585674>the BBC
reported<http://www.readability.com/articles/eldtcuhu#rdb-footnote-6>6.
Bottom line: rent-free living, few out-of-pocket expenses plus thousands
of dollars deposited into your account each month would probably
constitute a good deal in most peoples minds.
Of course, the pope is not most people. His financial health is of such
interest that it recently got the
<http://www.nbc.com/saturday-night-live/video/retirement-ad/n32894/>Saturday
Night Live
treatment<http://www.readability.com/articles/eldtcuhu#rdb-footnote-7>7,
with a mock ad showing a worried Benedict surrounded by a pile of unpaid
bills and seeking the help of a financial planning firm called Papal
Securities. Motto: Because heaven can wait.
References
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-1>^<http://www.lastampa.it/2013/02/18/italia/cronache/nel-buen-retiro-in-vaticano-con-una-pensione-da-euro-JbEcXKSmhcFU8zOZlsnmKI/pagina.html>according
to Italian newspaper La Stampa (www.lastampa.it:80) (
<http://www.lastampa.it/2013/02/18/italia/cronache/nel-buen-retiro-in-vaticano-con-una-pensione-da-euro-JbEcXKSmhcFU8zOZlsnmKI/pagina.html>http://www.lastampa.it/2013/02/18/italia/cronache/nel-buen-retiro-in-vaticano-con-una-pensione-da-euro-JbEcXKSmhcFU8zOZlsnmKI/pagina.html
)
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-2>^<http://www.ssa.gov/oact/cola/examplemax.html#fn3>wait
until 70 to retire (<http://www.ssa.gov:80>www.ssa.gov:80) (
http://www.ssa.gov/oact/cola/examplemax.html#fn3 )
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-3>^<http://www.ssa.gov/planners/maxtax.htm>which
is set at $113,700 this year (www.ssa.gov:80) (
<http://www.ssa.gov/planners/maxtax.htm>http://www.ssa.gov/planners/maxtax.htm
)
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-4>^<http://www.telegraph.co.uk/news/religion/the-pope/9877578/Pope-Benedect-XVI-to-receive-2150-pension.html>according
to The Telegraph (<http://www.telegraph.co.uk:80>www.telegraph.co.uk:80)
(
http://www.telegraph.co.uk/news/religion/the-pope/9877578/Pope-Benedect-XVI-to-receive-2150-pension.html
)
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-5>^<http://slideshow.nbcnews.com/slideshow/news/pope-benedict-xvis-departure-50969248/>Slideshow:
Pope Benedict's XVI's departure (slideshow.nbcnews.com:80) (
<http://slideshow.nbcnews.com/slideshow/news/pope-benedict-xvis-departure-50969248/>http://slideshow.nbcnews.com/slideshow/news/pope-benedict-xvis-departure-50969248/
)
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-6>^<http://www.bbc.co.uk/news/magazine-21585674>the
BBC reported (<http://www.bbc.co.uk:80>www.bbc.co.uk:80) (
http://www.bbc.co.uk/news/magazine-21585674 )
*
<http://www.readability.com/articles/eldtcuhu#rdb-footnote-link-7>^<http://www.nbc.com/saturday-night-live/video/retirement-ad/n32894/>Saturday
Night Live treatment (www.nbc.com:80) (
<http://www.nbc.com/saturday-night-live/video/retirement-ad/n32894/>http://www.nbc.com/saturday-night-live/video/retirement-ad/n32894/
)
Original URL:
<http://lifeinc.today.com/_news/2013/02/28/17119472-how-the-popes-retirement-package-compares-to-yours?lite>http://lifeinc.today.com/_news/2013/02/28/17119472-how-the-popes-retirement-package-compares-to-yours?lite
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