nirs – CORPaTH

Defined Benefit Pension Spending Helps Local and National Economies

Source: NYSTRS Retiree spending of defined benefit (DB) pension benefits generated $1.5 trillion in total economic output, supported 7.1 million jobs across the country, and produced $224.3 billion in tax revenue in 2022, according to “Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures,” a new study from the National Institute on Retirement Security (NIRS). Pension spending “supports the economy and supports jobs where retirees reside and spend their benefits,” write the study’s authors, NIRS Executive Director [...]

CORPaTH2025-02-06T12:24:36-08:00February 5th, 2025|Categories: Economy|Tags: DB Plans, nirs, pension spending|

Pensionomics 2025: Measuring the Economic Impact of Defined Benefit Pension Expenditures

Source: National Institute on Retirement Security 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 [...]

CORPaTH2025-01-13T15:11:54-08:00January 13th, 2025|Categories: Economy|Tags: DB Plans, nirs, Pensionomics 2025|

Gen X Is Getting Ready To Retire, But Their Savings Are Significantly Lower Than Recommended

By Alexandra Blogier Source: Your Tango Yet again, Gen Xers are left to fend for themselves. Gen Xers pride themselves on being independent and self-sufficient. However, this generation of latchkey kids, who were born between 1965 and 1980, is now facing a future in which they could benefit from community support. Many Gen Xers are getting ready to retire, but their savings are significantly lower than the recommended amount. Gen Xers have 5 to 15 years left before they hit [...]

joey2024-08-16T13:12:32-07:00August 15th, 2024|Categories: Retirement|Tags: gen-x, nirs, retirement|

NIRS Offers Congress 6 Recommendations for Expanding Access to Private-Sector Pensions

By Paul Mulholland Source: Plan Sponsor The National Institute on Retirement Security has published a report providing recommendations to Congress about how to increase defined benefit plan creation in the private sector. The report was commissioned by the Senate Committee on Health, Education, Labor and Pensions. The report makes six core policy recommendations: reduce Pension Benefit Guaranty Corporation insurance premium rates; formally recognize risk-sharing plans; provide more flexibility for overfunded plans; allow pre-tax employee contributions; and permit transfers between [...]

CORPaTH2024-05-10T15:36:43-07:00May 9th, 2024|Categories: Pension Reform|Tags: nirs, private sector pensions|