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Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures
By Dan Doonan & Iliana Boivie
Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures finds pension spending powered by U.S. private and public sector defined benefit pensions contributed significantly to the economy. In 2022, retiree spending of public and private sector pension benefits generated $1.5 trillion in total economic output, supporting 7.1 million jobs across the nation.
In addition to its impact on employment and economic activity, pension spending bolstered public finances in 2022, adding $224.3 billion in tax revenue at the federal, state, and local levels. The report highlights that key sectors such as food services, healthcare, and retail experienced the most significant benefits from this spending, underscoring the critical role of pensions in supporting economic stability and growth.
Get the report here
