In a new Forbes column NIRS Executive Director Dan Doonan writes that pension income is so much more than just income for retirees – it’s also a reliable economic engine that impacts virtually every community across the U.S.
When pension income lands in a retiree’s bank account, that money doesn’t just sit in an account. That income is spent on day-to-day living expenses. Retirees use their pension income on essentials like groceries, housing, medicine, utilities, clothing, transportation, and entertainment. And this spending has sizable economic footprint across the U.S, not only generating income for businesses and workers, but also generating tax revenue.
A detailed economic analysis finds that retiree spending powered by U.S. private and public sector defined benefit pensions was substantial – whopping $1.5 trillion in total economic output, supporting 7.1 million jobs across the nation across various sectors in 2022.
A new report from the National Institute on Retirement Security (NIRS) and Aon examines the changes public pension plan investing has undergone throughout the twenty-first century.
Retiree spending powered by U.S. private and public sector defined benefit pensions contributed significantly to the economy in 2022, according to a new report from the National Institute on Retirement Security.
Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures calculates the national economic impacts of U.S pension plans, as well as the impact of state and local plans on a state-by-state basis.
PENSION SPENDING SUPPORTS 7.5 MILLION JOBS, $1.2 TRILLION IN ECONOMIC OUTPUT ACROSS THE U.S. Real Estate, Food Services, Health Care, and Retail Sectors See Biggest Employment Impacts Webcast on January 10th at 2 PM ET to Review Findings WASHINGTON, D.C., January 10, 2019 – A new report finds that economic gains attributable to defined benefit […]