Pension Spending During Pandemic Supported $1.3 Trillion In Output, 6.8 Million Jobs, $157.7 Billion in Tax Revenue Across the U.S. Economy

WASHINGTON, D.C., January 4, 2023 – Economic gains attributable to private and public sector defined benefit pensions in the U.S. during the COVID-19 pandemic were substantial. Retiree spending of public and private sector pension benefits in 2020 generated $1.3 trillion in total economic output, supporting nearly 6.8 million jobs across the nation. Pension spending also added nearly $157.7…
Source: Red Lake Nation News