A new national economic impact study finds that DB pension benefits have a significant economic impact: 6.5 million American jobs and $1 trillion 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.
According to the report, state and local pension plans in California supported 324,761 jobs that paid $17.4 billion in wages and salaries in 2009, as well as supporting $52.5 billion in total economic output the same year.
Each dollar “invested” by California taxpayers in these plans supported $6.67 in total economic activity in the state, NIRS reports.
Read California's Fact Sheet here: http://www.nirsonline.org/storage/nirs/documents/factSheetsPreviews/Factsheet_CA.pdf
Find the entire report here: http://www.nirsonline.org/index.php?option=com_content&task=view&id=684&Itemid=48