|We Make Connecticut Happen|
Pensionomics 2014: DB Plans Boost CT Economy
A new economic impact study by the National Institute on Retirement Security (NIRS) finds that pension benefit expenditures provide important economic support to the economy, including more than $943 billion in total economic output and 6.2 million jobs in the United States.
In Connecticut alone, the study finds that each taxpayer dollar invested in state and local plans supports 40,249 jobs that paid $2.4 billion in wages and salaries, and $3.99 in total economic activity -- an overall economic impact of $6.6 billion.
Pensionomics 2014: Measuring the Economic Impact of Defined Benefit Pension Expenditures reports the national economic impacts of public and private pension plans, as well as the impact of state and local plans on a state-by-state basis.
The study measures the economic ripple effect of retiree spending of pension benefit income, which typically is a stable source of income that lasts through retirement.
Download the full NIRS study here.
Download the Connecticut fact sheet here.
© American Federation of State, County and Municipal Employees, AFL-CIO. All rights reserved.
Photographs and illustrations, as well as text, cannot be used without permission from AFSCME.