The Benefits of Retirement Security…
When a retiree receives a pension benefit payment, s/he spends it on goods and services — housing, food, clothing, medicines, a car or computer. These purchases create an important economic ripple effect.
Every taxpayer dollar contributed to state and local pension plans supported
$9.19 in national economic output!
Nationally, taxpayer contributions are about 24 percent of pension financing. Most of the funding comes from investment earnings and employee contributions.
| In Florida, 2014 expenditures stemming from state and local pensions supported…
• 108,370 jobs that paid $4.8 billion in wages and salaries
• $15.5 billion in total economic output
• $2.4 billion in federal, state, and local tax revenues