Approximately 83 percent of KCPSRS’s 4,049 retirees reside in Greater Kansas City and make a significantly positive impact in this community. Each year, nearly $64 million in pension benefits go to Greater Kansas City residents. Pension dollars are spent in Kansas City for goods and services, e.g. food, housing, clothing, medicine. This, in turn, creates a ripple effect that supports the local economy, provides jobs, and helps keep Kansas City vital and economically healthy.
Pension expenditures have large multiplier effects on the economy. According to a recent report, Pensionomics 2016: Measuring the Economic Impact of Defined Benefit Pension Expenditures, by the National Institute on Retirement Security (NIRS), each dollar paid out in pension benefits supported $1.41 in total economic activity in Missouri. NIRS key findings for Missouri indicate retiree expenditures stemming from state and local pension plan benefits supported 41,750 jobs in the state, paying $1.9 billion in wages and salaries.