Pension Benefits in 2014 Generated $1.2 Trillion in Economic Output Supporting 7.1 Million Jobs Across U.S.

Our latest research finds that economic gains attributable to private and public sector defined benefit (DB) pensions in the U.S. are substantial.

Retiree spending of pension benefits in 2014 generated $1.2 trillion in total economic output, supporting some 7.1 million jobs across the U.S. This pension spending also filled government coffers with retirees paying a total of $190 billion in federal, state and local taxes on their pension benefits and spending 2014.

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– National Institute on Retirement Security