US - Several thousand jobs and a US$2.1bn bump to the state GDP have been created through pension benefits paid by the Illinois Teachers' Retirement System (TRS).
Bob Lyons, TRS board trustee, commented: "This study underscores the ripple effect TRS has on Illinois' economy."
Lyons added: "Every county in the state of Illinois is positively affected by TRS benefit payments. In fact, the analysis shows that annual benefits received in each Illinois county averaged $22.8m."
The figures showed over 30,000 jobs had been created in Illinois and contributed to a billion dollars in additional state earnings.
The study was based on $2.3bn paid annually by TRS and the direct and indirect effects this money had on the local economy.
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