CROOKSTON, Minn. — The Diocese of Crookston is urgently seeking solutions after discovering its pension plan is severely underfunded.
A letter was sent to current and former employees in late October after the diocese found it was nearly $25 million short on funds.
The plan is managed by the Catholic financial organization Christian Brothers Services.
Bishop Andrew Cozzens said there was a lack of transparency from the organization. He added that some of the 180 other organizations whose finances are managed by Christian Brothers Services, including other dioceses, have also been underfunded.
The Crookston Diocese covers 65 parishes and eight Catholic schools from Warroad to Frazee, Minn. Cozzens estimates about 500 past and present employees will be affected by the shortfall.
The issue was first realized this summer when a rate increase made the diocese aware of the severe lack of funding.
Cozzens said the diocese has “grave” concern for caring for past employees and will do everything it can to provide the benefits they need.
Church officials said they are searching for a solution with help from financial advisers, many of whom are also invested in the pension plan.
Ryan McNamara joined WDAY as a reporter in late 2024. He is a native of Brooklyn Park, Minnesota and graduated from St. Cloud State University in 2024.
His time as a Husky included copious amounts of time spent at “The Herb” reporting on Husky hockey, or at Halenbeck Hall calling Husky basketball. He also spent two summers with the Northwoods League’s St. Cloud Rox. Along with his duties in news and sports, Ryan dons a headset for occasional play-by-play broadcasts for North Dakota and Minnesota high school sports.
When he’s away from the station, he’s most likely lifting, finding time to golf, or taking in as much college basketball as possible, in order to complete the elusive perfect March Madness bracket.