Pensionomics 2023: 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. The full report is available here.
Pension spending supports jobs and the local economy where retirees reside and spend their benefits. For example, when a retired firefighter receives a pension benefit payment, s/he spends the pension check on goods and services in the local community. S/he purchases food, clothing, and medicine at local stores, and may even make larger purchases like a car or a computer. These purchases, combined with those of other retirees with pensions, create a steady economic ripple effect.
What is the economic impact of state and local pension plans in your state? Click on a state to download a Fact Sheet with details.