Global Pensions, February 26, 2009 — State and local government pension plans have a total economic impact of more than $358 billion and supported more than 2.5 million American jobs, a new report by the National Institute on Retirement Security reveals.

Jonathan Stapleton reports that “Pensionomics: Measuring the Economic Impact of State and Local Pension Plans,” finds that expenditures made from state  & local pension benefits for the financial year 2005-2006 also supported more than 2.5 million American jobs that paid more than $92 billion in total compensation to American workers. It said 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.

Read the full article here.