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 2021, expenditures from Tennessee state and local government pensions supported the following within the state:

35500 jobs and had an estimated impact of $269 million on state and local tax revenue
Benefit payments of $2.87 billion resulted in a total economic output of $4.93 billion
$775 million in state and local tax revenues over the last three fiscal years

Each dollar paid in pension benefits supported $1.87 in total economic activity in Tennessee.

Retirement benefits paid by TCRS ...

Source: University of Tennessee 2022 study: "Economic Impact of the TCRS Defined Benefit Plan on Tennessee."

Click below to view the report.

Each $1.00 in state and local pension benefits paid to Tennessee residents ultimately supported
$1.87 in total output in the state of Tennessee*.

$1.00 Pension benefits paid to retirees in Tennessee

$1.87 Total output in the state of Tennessee

* This “multiplier” incorporates the direct, indirect, and induced impacts of retiree spending, as it ripples through the state economy. Source: Economic Impacts of the TCRS Defined Benefit Plan on Tennessee