When citizens or legislators talk about eliminating public pension plans because of their cost to taxpayers, they fail to understand the $1 trillion impact these plans have on the economy as a whole.

A new study by the National Institute on Retirement Security, “Pensionomics 2012: Measuring the Economic Impact of DB Pension Expenditures,” looked at the impact this money has on local and national economies. Its research found that not only do retirees, who receive steady paychecks from their defined benefit pension plans, spend it in their local communities, but those expenditures support 6.5 million American jobs that paid more than $315 billion to American workers. They also supported more than $134 billion in federal, state and local tax revenue.

Complete your profile to continue reading and get FREE access to BenefitsPRO.com, part of your ALM digital membership.

Your access to unlimited BenefitsPRO.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical BenefitsPRO.com information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com

Already have an account?


Join BenefitsPRO

Don’t miss crucial news and insights you need to navigate the shifting employee benefits industry. Join BenefitsPRO.com now!

  • Unlimited access to BenefitsPRO.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
  • Exclusive discounts on BenefitsPRO.com and ALM events.

Already have an account? Sign In Now
Join BenefitsPRO

Copyright © 2023 ALM Global, LLC. All Rights Reserved.