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Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures Print E-mail

screen_shot_2012-03-05_at_11.10.56_am A new national economic impact study finds that DB pension benefits have a significant economic impact: 6.5 million American jobs and $1 trillion in economic output.

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. State Fact Sheets/Map here. Press Release here. State by State Press Releases here.

Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures” finds that expenditures made from public and private pension benefits in 2009:

  • Had a total economic impact of more than $1 trillion.
  • Supported more than 6.5 million American jobs that paid more than $315 billion in labor income to American workers.
  • Supported more than $134 billion in federal, state, local tax revenue.
  • Had large multiplier effects. For every dollar paid out in pension benefits, $2.37 in total economic output was supported. For every taxpayer dollar contributed to state and local pensions $8.72 in total output was supported.
  • Had the largest employment impact on the food services, real estate, health care, and retail trade sectors. 
  • Paid $426 billion in pension benefits to nearly 19 million retired Americans and beneficiaries.

The report also analyzes the economic impact of state and local pensions in all 50 states.  

 

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Download "Pensionomics" report here.

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

Read the press release here.

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