Thursday, July 31, 2014

How much does PERS matter to the Oregon economy?

The Statesman Journal
July 30th, 2014

Public pension benefits not only help keep retirees afloat but are a boon for the private-sector economy, according to a study released this month by the Public Employees Retirement System.
Retirees received $3.2 billion in benefits last year, mostly funded by investment earnings, not tax dollars.
That income contributed $3.8 billion in total value to the economy, the study found, through retirees spending their money locally. That money supported 34,712 jobs, worth $1.07 billion in wages.
Those numbers sound large but actually represent a fraction of the state's total economy.

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