US - Retirement funds have a significant impact on their local economies, according to a study of investments held by the Retirement Systems of Alabama (RSA).
Between 2002 and 2008, capital expenditures in these investments totalled $854.3m, with operating expenditures of $1.6bn, including $245.4m of payroll for over 5,800 workers.
During the same period, the study found the £854m in capital expenditure had a state-wide impact of $1.9bn in output, over $620m in earnings for Alabaman households and was directly or indirectly party to almost 20,000 jobs.
Sales taxes earned through the wider effects of these investments totalled more than $85m.
Although benefit payments were not included in the study, indirect effects of RSA investments accounted for some $3.3bn of state output, or 2% of the state's 2007 GDP.
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