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The Illinois Municipal Retirement Fund (IMRF) serves 2,960
units of local government and approximately 388,000 active,
inactive, and retired municipal employees. IMRF members
provide vital community services including educational
support, road maintenance and public safety.
But the economic impact of IMRF reaches far beyond just those
municipal workers who are earning or have earned retirement
benefits in the system. After all, IMRF retirees are also
consumers and taxpayers.
In 2010, IMRF paid $988 million to retirees in Illinois. Those
benefit payments ripple through the economy as retirees spend
those payments in their local communities, creating income for
other households, firms, and even various levels of government.
The income received by these households, firms and
governments is, in turn, spent, thus creating a additional income
effects for other households and firms. Each successive “round”
of spending creates additional economic impacts which can be
estimated.
Read
IMRF's 2010 Economic Impact Study.
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