Boards and Governance

Supporting the Economic Ecosystem

As a member of RetireReadyTN, one of your most valuable benefits is your comprehensive retirement plan

Did you know that 81% of TCRS members retire in Tennessee?

That means that pension benefits received by retired members are spent in the local communities of Tennessee.


Tennessee retired couple smiling

In 2016, expenditures from Tennessee state and local government pensions supported the following within the state:

  • 32577 jobs that paid $1.8 billion in wages and salaries
  • $5.4 billion in total economic output
  • $776.4 million in federal, state, and local tax revenues

Each dollar paid in pension benefits supported $1.69 in total economic activity in Tennessee.

Source: Pensionomics 2018: Measuring the Economic Impact of DB Pension Expenditures, National Institute on Retirement Security

Tennessee economic impacts by industry sector

Industry Employment Impact (# of Jobs) Labor Income Impact Value Added Impact Output Impact
Real Estate 1,549 $46,055,040 $235,544,729 $327,263,958
Limited-service Restaurants 1,450 $27,908,020 $62,004,061 $115,122,473
Full-service Restaurants 1,435 $33,974,686 $37,637,243 $71,837,071
Nursing and Community Care Facilities 1,307 $53,130,454 $60,418,015 $93,677,290
Hospitals 1,208 $161,730,238 $138,844,844 $218,999,320
Retail—General Merchandise Stores 947 $28,717,605 $45,308,089 $69,083,174
Retail—Food and Beverage Stores 834 $26,494,562 $38,366,260 $57,576,369
Offices of Physicians 833 $85,602,531 $83,632,597 $123,549,557
Wholesale Trade 720 $58,568,386 $120,075,877 $178,097,139
Religious Organizations 640 $30,759,668 $8,185,571 $21,752,467

* Industry totals include the first round of impacts from pension payments to state residents, and do not account for recaptured “leakage” to or from other states.

Pension benefit multiplier

Each $1.00 in state and local pension benefits paid to Tennessee residents ultimately supported $1.69 in total output in the state of Tennessee*.


$0.50
$0.71

* This “multiplier” incorporates the direct, indirect, and induced impacts of retiree spending, as it ripples through the state economy. **Source: Pensionomics 2018: Measuring the Economic Impact of DB Pension Expenditures, National Institute on Retirement Security

sunrise over Tennessee field

Contact Us


Have questions about your retirement account? We're here to help!

(800) 922.7772 (Main line)

(800) 766.4952 (TDD)

TCRS.CustomerSupport@tn.gov

Mailing Address


TCRS
Andrew Jackson Building, 15th Floor
502 Deaderick Street
Nashville, TN  37243-0201

Deferred Compensation Program
Empower Retirement
545 Mainstream Drive, Suite 407
Nashville, TN  37228