Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures
A new national economic impact study finds that DB pension benefits have a significant economic impact: 6.1 million American jobs and $941.2 billion 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.
“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 $941.2 billion.
Supported more than 6.1 million American jobs that paid more than $291.9 billion in labor income to American workers.
Supported more than $125 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 nearly $400 billion in pension benefits to over 21 million retired Americans and beneficiaries.
The report also analyzes the economic impact of state and local pensions in all 50 states.
Evolution and Growth: How Public Pension Plans Have Diversified Their Investments Amid Changing Markets
A 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.
