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Pensionomics: Measuring the Economic Impact of State & Local Pension Plans

nirs_nei_cover A new national economic impact study finds that the benefits provided by state and local government pension plans have a significant economic footprint:  2.5 million American jobs and $358 billion in economic impact.

The analysis finds that the benefits provided by state and local government pension plans have a sizable impact that ripples through every state and industry across the nation.  Full Report here.   Report PowerPoint here. State Fact Sheets/Map hereState Press Releases here

Pensionomics: Measuring the Economic Impact of State and Local Pension Plans,” finds that expenditures made from state & local pension benefits for fiscal year 2005-2006:

  • Had a total economic impact of more than $358 billion.
  • Supported more than 2.5 million American jobs that paid more than $92 billion in total compensation to American workers.
  • Supported more than $57 billion in annual federal, state, local tax revenue.
  • Had large multiplier effects. Each taxpayer dollar invested in state and local pensions supported $11.45 in total economic activity, while each dollar paid out in benefits supported $2.36 in economic activity.
  • Had the largest impact on the manufacturing, health care, finance, retail trade, and accommodation and food service sectors. 
  • Paid $151.7 billion in pension benefits to 7.3 million retirees and beneficiaries.

The report also analyzes the economic impact of public pensions in all 50 states.  

 

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Download "Pensionomics" report here.

Download the State Fact Sheets here.

Visit a Map with state-by-state impacts here.

Read the National Press Release here.

Read the State Press Releases here.

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