CalPERS Study: Fund Generated $30 Billion in Economic Activity in 2014

640px-Flag_of_California.svg

CalPERS has released a study that claims that the pension fund, through pension payouts and investments, generated over $30 billion in economic activity in California alone in 2014.

Specifically, the study posits that $9.64 in economic activity was generated for every $1 contributed to the pension fund.

More from Plan Sponsor:

The findings come from the “CalPERS Economic Impacts in California” report for the fiscal year ending June 30, 2014. CalPERS says the report “highlights the vital role” pension funds play in the U.S. and global economies.

According to Anne Stausboll, chief executive officer for CalPERS, retirees spending their pensions returned $9.64 in economic activity for each taxpayer dollar contributed to the system. The total economic activity generated by CalPERS benefits payments was $30.9 billion, while CalPERS benefit payments supported 104,974 jobs throughout California.

Investments in California accounted for $25.7 billion, or approximately 8.5%, of the CalPERS portfolio, the organization notes.

The pension fund is often cited among the largest U.S. retirement plans, serving more than 1.7 million members in the CalPERS retirement system. Another 1.4 million people are served by CalPERS health benefit programs. CalPERS’ holdings stand at approximately $304 billion.

Read the study here.

Share This Post

Recent Articles

Leave a Reply

Privacy Policy | © 2017 Pension360 and © 2014 Policy Data Institute | Site Admin · Entries RSS ·