New research released last week by the National Institute on Retirement Security (NIRS) in partnership with NRTA, AARP’s Educator Community, provides a snapshot of the economic impact of pensions in Colorado, outlining the importance of a defined benefit plan to attract and retain teachers, and the economic impact of spending by PERA retirees. This updated research builds on the NIRS Pensionomics report published in 2016.
- Pensions in Colorado provide $6.3 billion in economic output from retirees’ spending in the state.
- Public retirees spending their retirement income in Colorado support 41,719 jobs.
- An additional $1.2 billion in federal, state, and local taxes are generated by public employee retiree benefits.
- $1 in employer contributions to public retirement plans in the state generates $6.82 in economic output.
- Pensions play a fundamental role in retaining high-quality, experienced teachers in Colorado classrooms.
Previous PERA on the Issues posts:
Retiree spending boosts Colorado’s economy, sustains jobs
The Economic Impact of Colorado PERA