PSRS/PEERS Benefits Have Positive Impact on Missouri’s EconomyAugust 23, 2018
As of June 30, 2018, of the 91,585 individuals receiving benefits from PSRS/PEERS, approximately 89% of them live in Missouri. Total annual benefits paid as of June 30, 2018 were over $2.8 billion. Of this amount more than $2.5 billion was distributed among Missouri's 114 counties, positively impacting the state's economy (based on un-audited data for fiscal year 2017-2018).
The benefits paid by the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) serve not only as a source of income for retirees, beneficiaries and their families, but also fuel local economies.
Pension benefits received by our retirees are spent in their local communities. As one person’s spending becomes another person’s income, the funds begin to ripple through the economy. In this way, the expenditures and sales tax revenue our retired members generate stimulates the growth of Missouri’s economy. In many Missouri counties, PSRS/PEERS could be considered one of the largest employers.
You can also view an interactive version of this map.