Recently, Nevada Public Employees' Retirement System (PERS) participated in an economic impact study with the National Institute on Retirement Security. This study details the economic impact Nevada PERS pension benefits have on our state. This study reaches far beyond the public employees (active, inactive, and retired) who provide valuable and essential functions in the state. The economic study reveals the multiplying effect pension benefits spent in our state have on the state's overall economy.
Key Findings:
- Nevada PERS paid more than $1 billion in pension benefits last year.
- Expenditures resulting from Nevada PERS pension payments supported more than $390 million in income for state residents other than Nevada PERS retirees.
- More than 10,000 jobs statewide can be attributed to Nevada PERS pension payments.
- Nevada PERS pension payments supported more than $1.2 billion in total economic output in the state and more than $789 million in value added.
- Payments made to Nevada PERS retirees supported more than $174 million in federal, state, and local tax revenue.
- Each dollar paid out in pension benefits to Nevada PERS retirees residing in the state supports $1.09 in total economic output in Nevada.
- Each dollar in taxpayer contributions to Nevada PERS supported $6.69 in total economic output in Nevada.