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Measuring the Impact of Minnesota's Retirement Systems

Minnesota’s three statewide retirement systems generate an economic impact of $3.3 billion for the state economy according to an economic impact study recently completed. The economic impact study, conducted by Andrea Lubov, Ph.D., was authorized by the boards of trustees of the Minnesota State Retirement System (MSRS), the Public Employee Retirement Association (PERA), and the Teachers Retirement Association (TRA).

The report assesses the financial and economic impacts of the three statewide retirement systems for the fiscal year ended June 30, 2007. Together the three funds had $50.2 billion in assets and paid out nearly $2.8 billion in benefits to 144,000 people in the fiscal year ended June 30, 2007. The total included more than $2.5 billion paid to 129,000 Minnesota residents. The retirement benefits produced an economic impact of $3.3 billion on the state economy and beneficiaries’ spending led to 22,500 additional jobs statewide.

Key Findings

The full report and a summary are available for viewing:

Measuring the Economic Benefits
    (Summary)

PDF (1.5 MB)
Measuring the Impact of Minnesota's Retirement Systems
prepared by Andrea Lubov, Ph.D., March 2008
    (Full Report)
PDF (1.6 MB)

Other Publications of Interest

A Better Bang for the Buck
The Economic Efficiencies of Defined Benefit Pension Plans
National Institute on Retirement Security (NIRS)
by Beth Almeida and William B. Fornia, FSA

Full Report
PDF (520 kb)

PowerPoint
Presentation
PDF (90 kb)

The Value of Your Public Sector Defined Benefit (DB) Plan
Made available with the permission of the National Council
on Teachers Retirement (NCTR)

PDF (178 kb)
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