Retiree spending powered by U.S. private and public sector defined benefit pensions contributed significantly to the economy in 2022, according to a new report from the National Institute on Retirement Security (NIRS). Retiree spending of public and private sector pension benefits in 2022 generated $1.5 trillion in total economic output, supporting 7.1 million jobs across the nation.
Pensionomics 2025: 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.